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Rabobank Pensioenfonds moves away from enhanced indexing

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  • Rabobank Pensioenfonds moves away from enhanced indexing

NETHERLANDS - The €9.1bn Rabobank Pensioenfonds has adjusted its equity investments away from advanced indexing following a recent review.

After the routine review, the pension fund is now investing in active global equities, emerging markets, a quantitative mandate and a new mandate based around conservative intrinsic value investing (CIVI).

CIVI, also referred to as smart beta, results in a portfolio with "reduced volatility and comparable returns to traditional index-based investments", the fund said.

Rabobank, with its focus now on more active strategies, has also redistributed its mandates with active global equities, the largest being managed by Mark Glazener at Robeco, the bank's asset management subsidiary.

The responsibility for emerging markets is divided equally between two further Robeco funds, with the entire fixed income portfolio also remaining with Robeco.

Additionally, Syntrus Achmea has been charged with fiduciary management alongside Swiss Corestone, on whose advice the pension fund granted an €800m quant mandate to US companies AQR and PanAgora.

Of the €9.1bn under management, €8.3bn are held by Robeco, with the remainder part of its quant mandate.
 

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