NETHERLANDS - PGGM, the asset management arm of giant Dutch pension fund PFZW, has today revealed it has taken over the asset management and pension operation of the €20m Aena pension fund.
It is the first time since PGGM Investments was created as a separate entity to the pension fund that the asset manager has taken on assets of a pension fund other than PFZW.
Martin van Rijn, chairman of the executive board at PGGM, commented: "The service to Aena fits within our strategy to service more pension funds."
Aena, the small occupational pension fund for independent artists, sculptors, writers, actors, translators, dancers, music authors, composers and poets established in 2002, joined PGGM on January 1.
Hans Megens, chairman of Aena, commented: "PGGM has good pension experience and is a reputable investor with a reliable implementation."
He noted PGGM invests responsibly and claimed the manager had been a trendsetter in its social responsibility.
PGGM said it now has €72bn in assets under management.
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