The Dutch pension scheme for the hospitality and catering industry has awarded a £62m ($101m) emerging market equities mandate.
The mandate was won by Principal Global Investors Europe Ltd., the UK registered entity of Principal Global Investors, a global asset manager and a member of the Principal Financial Group.
"The Netherlands continues to be an important growth market for Principal Global Investors. We currently manage more than $3bn in assets for 11 Dutch clients," says Jeroen van Rooij, head of institutional business development for Principal Global Investors - Benelux and Nordics.
"Our multi-boutique strategy appeals to a large number of corporate and industry-wide pension funds. We are very pleased to add Pensioenfonds Horeca & Catering to our list of clients and look forward to a long and fruitful relationship."
Pensioenfonds Horeca & Catering has approximately 900,000 deferred and active members from 36,000 employers and is one of the 10 largest pension funds in the Netherlands.
"Principal Global Investors proved they can consistently add value by active management. Their large, dedicated team, which is very disciplined and well-structured, was a key factor in our decision making," said Wouter Jan Naborn, head of asset management at Pensioenfonds Horeca & Catering. "Furthermore, risk management and compliance are vested in the organization."
On 30 June of this year the scheme held approximately €4.8bn in assets under management.
You can view the latest available account details from both the pension scheme as well as the manager by logging on to the Pension Funds Online database.
First published 28.10.2012