In 2017, APG Asset Management established a Fiduciary Management (FM) department with the goal of providing pension fund clients with independent advice on their investments and to oversee the appropriate implementation of client mandates and assignments. This department headed by the Chief Fiduciary Officer (CFi) acts as a trusted and independent advisor to our pension fund clients. CFi reviews the performance of selected internal and external asset managers and oversees the risk and return of the overall client portfolio.
Fiduciary Management (FM) consists of the following specialized teams:
- Asset Liability Management (ALM)
- Economics & Strategic Asset Allocation (ESAA)
- Research & Analytics (R&A)
- Mandate Management (MM)
- Fiduciary Management Responsible Investments (FMRI)
- Client Management (CM)
Asset Liability Management (ALM)
Asset Liability Management (ALM) provides insight into how future financial scenarios could impact the pension fund's assets. The transition to a new pension system creates a greater need for and understanding of the consequences of the choices to be made, such as those regarding pension and investment policy.
Economics & Strategic Asset Allocation (ESAA)
The Economics & Strategic Asset Allocation (ESAA) team plays a central role in the development of the investment policy of pension funds. It is therefore in close contact with APG’s clients. The ESAA team is responsible for assisting pension fund clients with their ALM study, Strategic Asset Allocation, but also provides various other services such as an overview and segmentation of asset classes, investment cases per asset class, and studies on expectations for the macro economy and returns on asset classes. The ESAA team has two different roles: one focusing on Strategic Portfolio Construction & Advice, and the other on medium to long term developments in the economy and financial markets.
Research & Analytics (R&A)
Research & Analytics supports strategic portfolio advice to APG’s clients through applied research and analytic tools covering a wide range of topics, including risk preference surveys, pension systems, lifecycle investing, climate risk, factor analysis, and alternative asset classes.
Mandate Management (MM)
Mandate management supports fiduciary managers in developing and realizing mandate advice, decision-making, and decision evaluation and contributes to the formulation of a mandate and its evaluation against asset managers worldwide.
Fiduciary Management Responsible Investments (FMRI)
The Fiduciary Management Responsible Investments team (FMRI-team) advises clients on the development of their responsible investment (RI) policies. FMRI acts as an independent strategic advisor to our clients. We provide RI policy advice to clients and provide RI-related input to other advisors within the FM department. In line with client demand, we ensure that RI is embedded in the development of fiduciary mandate advice, investment decisions, and execution reviews, in line with laws and regulations and APG AM’s overall fiduciary strategy and vision.
Client Management (CM)
Client Management advises clients on strategic balance sheet and investment management strategies and translates the client’s strategy into a concrete set of mandates. The Client Management team is the primary point of contact for clients.