New platform launch brings pan-European provision one step
closer
12 June 2009
Written by Sophie Baker
IThe first multi-client cross-border asset pooling platform
has been launched by AEGON and Citi, developed with TKP investments, with
total assets invested of more than €9bn.
The asset pooling platform uses tax transparent investment funds under
a European passport (UCITS) to enable AEGON Global Pensions’ multinational
clients to consolidate the management, investment and reporting of their
pension assets. This, AEGON says, will reduce both risk and costs.
The landmark launch is a step towards pan-European pension funds, and
has been launched with both pension funds and insured funds from the Netherlands
and the UK. The UCITS compliant funds, the AEGON Global Multi Manager
Funds, consist of both equity and fixed income funds, and the platform
is to be further expanded over Europe throughout 2009 with the launch
of further UCITS funds.
Roelie van Wijk, CEO of TKP Investments, commented: “With the launch
of this platform we are able to provide international clients with the
benefits of the expertise and experience that we have already built up
with the Dutch pooling vehicle, the Fonds voor Gemene Rekening (FGR).
This platform makes it possible for TKP to realise our European growth
strategy outside the Netherlands.”
Director of AEGON Global Pensions, Frans van der Horst, added: “Until
today, only a few large multinationals have been able to profit from asset
pooling, as setting up a pooling platform has been too time-consuming
and expensive. With the launch of the first multi-client asset pooling
platform, small and medium-sized multinational companies can now also
benefit from cost savings, improved governance and better risk control.”
