NETHERLANDS/UK - The €125m Dutch pension fund for workers in the paint and printing industries (SBVD) has promoted its balanced mandate manager to the status of fiduciary manager.

F&C Investments announced today the fund has decided to extend the existing relationship, from managing a balanced mandate for the fund, to a fiduciary arrangement, which will see F&C offer investment advice, portfolio construction, performance monitoring, risk management and reporting.

A spokeswoman for F&C told IPE the mandate is not its first in the Dutch fiduciary space.

"We have won a few other mandates since launching our fiduciary offering in the Netherlands," she said, adding the other funds have chosen not to go public.

Commenting on the appointment, Robert van Westerhoven, chairman on the employer side of SBVD, said: "This partnership will allow the board to focus its attention on strategic decisions. F&C will advise us on strategy and execute all tactical and operational activities related to the investment portfolio."

He added the fund aims to fulfill its current liabilities with this appointment as well as its ambitions regarding indexation.

Van Westerhoven concluded: "We are looking forward to jointly work with F&C to further expand our risk management and multi-management capabilities.

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