NETHERLANDS - The €300m pension fund for the Dutch private security industry has awarded PGGM an external mandate to manage the entire pension fund.

Tom Uittenbogaard, president of the governing board of the security pension scheme,  said PPGM, the asset management arm of PfZW, pension fund to the healthcare sector, was selected following guidance from its consultant Avida International and with the cooperation of CMC.

“Both from a professional and cultural aspect, PGGM came forward as best party for our orientation. PGGM knows the pension world like no other and that protects the interests of our participants. Moreover, PGGM Investments has developed a responsible philosophy through its history with the care and health sector which we fully support.”

The industry-wide pension fund for the private security industry (PBP) was created in 1990 and now manages the pension scheme for 320 private security ventures in the Netherlands and serves 40,000 deferred members and pensioners.

Alongside its latest appointment PGGM Investments now manages assets under management of over €67bn for PfZW and AENA, the occupational pension fund for independent artists.

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