Frank van Alphen

Oct 10, 2024 | ipe.com | Frank van Alphen

Total asset management costs including transaction costs for Dutch pension funds slumped by 16% to 0.48%, or €7.2bn in 2023. Administration costs, however, rose by 13% according to a survey by Bell, a consultancy. Both asset management costs and transaction costs fell, by three and two basis points, respectively, to 0.39% and 0.09%.

Sep 6, 2024 | ipe.com | Frank van Alphen

The European Court of Justice (ECJ) has ruled that Dutch defined benefit (DB) funds do not owe value-added tax (VAT) on asset management if pension benefits depend “primarily” on returns, However, a Dutch court now needs to assess whether the funds in question meet this criterion. Dutch DB pension funds are in a long-running dispute with the Dutch state about whether they should pay VAT on services provided by their asset managers.

Jun 12, 2024 | ipe.com | Frank van Alphen

The pension funds for Architects, general practitioners (Huisartsen), painters (Schilders), security staff (Particuliere Beveiliging) and company pension scheme Smurfit Kappa have very few assets that are managed by Dutch pension asset manager PGGM. Back in 2021, the firm decided to focus its asset management activities entirely on its largest client PFZW. The main reason for this was that PFZW no longer wanted to invest in pooled funds, preferring discretionary mandates.

Mar 8, 2024 | ipe.com | Frank van Alphen

Dutch pension provider Blue Sky Group, which is owned by the three pension funds of airline KLM which are also the firm’s owner, has put its asset management division up for sale. The firm expects to transfer its asset management division to a buyer by the beginning of next year, according to chief executive officer Tom Bottinga. “We and our clients have looked at the time after the introduction of the Pension Act,” said Bottinga.

Jan 31, 2024 | ipe.com | Frank van Alphen

The 45 Dutch pension funds that have indicated their preference not to make the transition to a defined contribution (DC) arrangement should better substantiate that their decision is in the best interest of their members, according to pension regulator DNB. The regulator has issued its call following a roundtable discussion in December with directors of pension funds that prefer not to move defined benfit (DB) accruals to DC.