Asset Management

It is an important responsibility of the pension fund to invest premium revenue at an acceptable level of risk. The core purpose is to make sure that future pensions can be paid.

Within asset management two different policies are distinguished: the strategic and tactical investment policy. Strategic policy is the responsibility of Pensioenfonds Horeca & Catering's governing board. The strategic decisions are based on the outcome of Asset Liability Management (ALM) studies and are valid for the longer term (longer than three years).

The tactical policy is delegated to professional external asset managers. The Asset Management department is responsible for the selection and monitoring of these external asset managers. The assets of the pension fund are currently invested by:

Asset Manager Asset category
Aegon Asset Management Mortgages
AlpInvest Private Equity
Altera Non-listed real estate
BMO Global Asset Management Euro Nominal bonds, Convertibles, Interest rate hedgin...
Goldman Sachs Private Equity, Money market fund
HarbourVest Private Equity
Loomis Sayles High Yield bonds
Northern Trust Listed real estate, Small Caps equity
Pramerica Emerging markets debt
Principal Global Investors Emerging markets equity
RobecoSAM Private Equity
SPF Beheer Private Equity
State Street Global Advisors Developed markets (ex US) large cap equity
Syntrus Achmea Real Estate & Finance Mortgages
T. Rowe Price United States large cap equity
Western Asset Management Inflation linked bonds

The Asset management department of Pensioenfonds Horeca & Catering monitors the activities of these asset managers and reports regularly to the governing board on their execution of mandates and their performance.