Pensioenfonds Vervoer, Groningen, Netherlands, has appointed Rotterdam-based Robeco as fiduciary manager of the €11 billion pension fund, Financial News reports. Robeco will succeed Goldman Sachs Asset Management, which was dismissed in April 2010 for underperformance.
Robeco will be in charge of asset allocation and manager selection advice. Northern Trust, the fund’s global custodian, served as interim fiduciary manager. The €150 billion Dutch transport workers scheme appointed KPMG for the search.
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