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ASR grows consolidation vehicle with €1.2bn pension client

first_imgThe €1.2bn Dutch pension fund of temporary employment agency Randstad is to join Het Nederlandse Pensioenfonds, the consolidation vehicle of ASR.It is the second fund to announce such a move this week, after the €900m Owase pension fund announced its intention to move to Het Nederlandse Pensioenfonds.As of next year, the closed Randstad scheme will be housed in an individual compartment at the general pension fund (APF) of the Dutch insurer.As a consequence of the new acquisition, Het Nederlandse Pensioenfonds will become the biggest APF in the Netherlands in terms of members, with 7,000 compared to the 6,000 members of Stap, Aegon’s consolidation vehicle.  Its assets will increase to €3.5bn, putting it in second place behind Stap, which has €6bn assets under management.Randstad is the third scheme with assets of approximately €1bn to join ASR’s vehicle, alongside Owase and the €1.1bn pension fund of engineering firm Acadis, which announced its move last year.José Suarez Menendez, chair of Het Nederlandse Pensioenfonds, said the vehicle’s strict admittance policy was starting to bear fruit.“We have held off smaller schemes wanting an individual compartment, as this wouldn’t be viable for the longer term,” he said.He added that Het Nederlandse Pensioenfonds operated a separate section that was open to smaller pension funds and employer pension plans. This section has six clients, including the schemes of attraction park De Efteling and insurer DAS.According to the Randstad scheme, confidence and a “cultural match” were important reasons for selecting the ASR subsidary.It said that, at Het Nederlandse Pensioenfonds, its actuarial calculations – and with it its liabilities – could remain unchanged, while it could also retain its policies for investment and inflation-linked payments.Also in favour of the APF was that it worked with Kempen Capital Management, the fiduciary manager of the Randstad scheme.The contract with Het Nederlandse Pensioenfonds has been agreed for an indefinite period.Suarez Menendez said the governance arrangement was pension funds’ main reason to choose his consolidation vehicle.“Through our own administrative bureau, we develop our own policy, independent from our founder and provider ASR,” he explained.The chair also highlighted the APF’s asset management approach with Kempen as independent fiduciary manager. Most other APFs use asset managers owned by their parent companies, he said.He said his APF expected more schemes to join “as there is a lot of market movement since last summer”.“We are currently talking with several players with more than €1bn of assets,” he said, adding that some had shown an interest in joining a multi-client compartment.last_img read more

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Pedestrian killed in early morning crash

first_imgAurora, IN—Early Monday morning, the Indiana State Police responded to a crash on US 50 in Dearborn County that resulted in the death of a pedestrian who was struck by a vehicle.The initial investigation by Troopers Matt Holley and Jacob Tolle, Indiana State Police-Versailles Crash Reconstruction Team, determined that a 2010 Chevrolet Malibu being driven by Rodney G. Beach, age 53, Aurora, Indiana was traveling eastbound on US 50 near Sycamore Estates Drive in Aurora. Beach’s vehicle struck Nicholas A. Crum, age 31, Aurora, Indiana who was walking in the middle of the eastbound lanes for an unknown reason.Crum sustained fatal injuries in the collision. He was pronounced deceased on the scene by the Dearborn County Coroner’s Office. Beach, along with a witness, stopped at the scene and are cooperating with investigators.Toxicology results are pending at this time. The investigation is ongoing. US 50 was closed in the area for approximately three hours for the crash investigation.last_img read more

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World Football Championship: Only 15 Accreditations for B&H Journalists

first_imgUnfortunately a large number of B&H journalists will remain in B&H without possibility of an official participation at the World championship matches.FIFA announced the possibility of the B&H football house of receiving a modest number of accreditations, meaning 15 accreditations, which is far less than the actual demand. B&H Football Association confirmed this information on their official website.“We inform all the local media that the football association of B&H has received a total of 15 accreditations for the World Championship in Brazil: 15 accreditations for journalists (written press, internet portals and freelancers) and no accreditation for photographers. The representatives of the FIFA department for accreditation have distributed accreditation for journalists based on experience and number of media representatives from the previous championships”, announced the Football Association of B&H.Through its media channel (FIFA Media Channel) FIFA determined the manner and the number of accreditations granted to alliances-participants for the World Championship that will be held from 12 June until 13 July in Brazil.(Source: nfsbih.ba)last_img read more

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Stoke keen to complete striker deal, insists chairman Peter Coates

first_imgStoke City remain keen on signing West Bromwich Albion striker Saido Berahino, chairman Peter Coates has told talkSPORT.The forward, once linked with a switch to Tottenham Hotspur, has been the subject of bids from the Potters worth £16million and £20million, according to reportsAnd Coates has revealed they do still want to land the 22-year-old striker.“We’re after that elusive striker everyone is looking for,” he told the Alan Brazil Sports Breakfast.“Players like to see new faces and the club moving on. Although it might affect their position, they still want to feel you’re improving.“[Saido Berahino] is on our list. We would like to do something. We’re in the hands of the player and West Bromwich Albion at the minute and we’re working away on it.“We would like to take him if a deal can be done.”Meanwhile, Coates has assuaged supporters’ fears surrounding the future of Austria international Marko Arnautovic, who was reportedly wanted by Everton.He said: “He [Arnautovic] is an exceptional talent and he was our leading goalscorer last season so we’re naturally keen to keep him and we think that will happen.”last_img read more