Jeroen van Gelderen

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Nov 18, 2013 (3 years and 11 months ago)

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09:00


10:00: The Dutch Pension system



Herman Wijffels



10:00


11:00: Shell Pension fund


Willem Handels



11:00


12:00: An introduction to APG


Jeroen van Gelderen



12:00


13:00: Lunch

Agenda

An introduction to APG

Owned by pension funds, for pension funds



Jeroen van Gelderen

Amsterdam

May 19, 2010



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In the Netherlands, pension services are in most cases outsourced to professional

financial institutions, pension delivery organisions (PDOs).




Asset management and investment services


ALM


Investment advisory services


Asset management


Risk management


Reporting


Custody services


Treasury



Pension administration


Support to the Board of Trustees


Advisory services


Reporting and annual report


Collection of contributions


Pay
-
out phase


Administration


Communication

Pension Delivery Organisations (PDOs)

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Dutch pension service providers

Source: Annual Accounts

Source: Annual Accounts

Pension providers - Assets Under Management (2008)
0
50
100
150
200
250
Aegon (incl. TKP Pensioen)
Aon
Blue Sky Group
Delta Lloyd
Hewitt
ING (AZL & Nationale Nederlanden)
SAMCo
SPF
Fortis/ASR
Mn Services
PGGM
Syntrus Achmea
APG
Assets (€bln)
Company
Industry
Professional
Other
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Dutch pension service providers

Source: Annual Accounts

Source: Annual Accounts

Pension providers - Participants (2008)
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
Aegon (incl. TKP Pensioen)
Aon
Blue Sky Group
Delta Lloyd
Hewitt
ING (AZL & Nationale Nederlanden)
SAMCo
SPF
Fortis/ASR
Mn Services
PGGM
Syntrus Achmea
APG
Participants (x 1000)
Company
Industry
Professional
Other
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Profile of APG


Established in 2008, but with a long tradition and experience in
managing pensions


Result of a merger of APG and Cordares


Servicing, among others, the pension fund for the public sector, the
building sector, housing and the cleaning industry


Assets under management amount to more than EUR 230 bn


Servicing 20,000 employers and more than 4 mln plan members


Owned by pension funds


No profit maximisation


Offering a full range of pension services

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Strategy of APG

Clients

Products /
services

Business

Enhancing the Dutch collective pension system
(2nd pillar) by offering high quality at a reasonable
price

Focused approach, in order to quarantee high level
of quality

Integrated approach, but always fitting fund
-
specific
requirements and demands

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Integrated approach towards pension services

Board of Trustees

Assets

Liabilities


ALM


Advisory services


Pension fund asset management


Targeted at fund objectives


Long term perspective


Reporting


Custody


Collection of contributions


Administration


Communication


Payments


Reporting


All fund specific



General support


Risk management


Advisory services

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Asset management

‘Portfolio optimization platform’


Allocatie and overlay


Treasury and trading


Strategy and research

‘Income Portfolio’

1.
Treasuries

2.
Index Linked Bonds

3.
Credits

4.
Cash

5.
Infrastructure

6.
Absolute Return
Strategies

7.
Liability Hedging
Alternatives

‘Growth Portfolio’

1.
Developed equities

2.
Emerging equities

3.
Private equity

4.
Real Estate

5.
Commodities

6.
Return Optimizing
Strategies

7.
Innovations

Characteristics asset management


Two basis portfolios aimed at specific
risk/return profile


Focus on pension specific asset management


Alignment fund and asset manager


Focus on implementation and innovation


ESG



Advantages for pension funds


Alignment with overall objectives of the fund


Innovative & socially responsible


Long term, pension related focus


Access to alternative asset classes


Low costs

Asset

Management

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Pension administration

Characteristics


Account management is key


Strong link with social
partners


Expertise with respect to legal
and financial pension issues


Strong presence in “The
Hague” and “Brussels”


Expertise and experience with
pension fund communication


Effective and efficient
collection of pension fund
contributions


Overall approach to income
-
substituting old
-
age benefits



Benefits for pension funds


High quality at a reasonable price


“Best in class” advise


Fund
-
specific approach


“Fiduciary” approach with respect
to servicing employers and plan
members


Transparant communication to plan
members


Operational excellence


If desired, more than only pension
services in relation to old
-
age
benefits


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APG, all round pension provider

APG Group

‘Shared services’

‘Shared framework’

Asset
management

Pension
admini
-
stration

‘Cordares’

Pension
admini
-

stration

‘APG’

Supple
-

mentary
products

‘Loyalis’


IT
-
supply


Procurement


Facilities


Payments &
receivables

Bundling pension
-
expertise and
-
control


Pension
policy/advisory
services


Financial control


Risk management

APG Group

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Contact details

Jeroen van Gelderen

Senior Actuary Consultant


J.vanGelderen@cordares.nl


+31 20 583 35 86


Ruben Laros

Junior Business Developer


Ruben.laros@apg.nl


+31 20 604 92 14