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)
- 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 determining the financial strategy of the pension funds. It is therefore in close contact with APG’s clients. The ESAA team is part of Strategic Portfolio Advice (SPA), which is responsible for Strategic Asset Allocation for pension fund clients. This includes strategic investment plans, ALM studies, but also various other services such as an overview and segmentation of asset classes, investment cases per asset class, studies on monetary policy and specific market developments. ESAA 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.
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.