asset management

It is an important responsibility of all pension funds to invest premium revenue at an acceptable level of risk. Their core purpose is to protect the security of current and promised benefits.

In asset management a distinction is made between strategic and tactical investment policy. Strategic policy is the responsibility of the PH&C governing board. Its strategic decisions are based on the outcome of Asset Liability Management (ALM) studies and are valid for the longer term (five to 10 years).

Tactical policy is delegated to fourteen firms of professional asset managers. These are currently: Acadian Asset Management, Achmea Vastgoed, AlpInvest, Allianz Global Investors, Blackrock, Cohen & Steers, F&C, Goldman Sachs, HarbourVest, Robeco, SPF beheer, State Street Global Advisors, T. Rowe Price, and Western Asset Management.

The managing director of PH&C monitors the activities of these asset managers and reports regularly to the governing board on their execution of mandates and their performance.