Fiduciary management

Fiduciary management is responsible for selecting and monitoring asset managers.  Fiduciary management translates the investment policy set by the board into concrete investment mandates. Here it is essential that the mandates are designed in such a way that they contribute optimally to the pension funds' objective. When selecting investment mandates, we follow a structured process. We start working within the process on the basis of strict criteria that we determine together with the fund board. Criteria such as passive or active management, costs, sustainability, transparency, risk tolerance, sustainability criteria and complexity are formalized whereby we always design the selection from a portfolio perspective.

Based on the available knowledge of our internal portfolio management, mandates are assessed for selection at individual investment title level, specific risks in positions are indicated and the operational control of the mandate is assessed at portfolio management level.

After selection, fiduciary management monitors the investment mandates whereby investment restrictions, internal control, compliance, returns and risks are continuously monitored. In case of deviations, fiduciary management takes the necessary actions whether or not in close consultation with the board.