ING IM selected by FDC for a €400m mandate
ING Investment Management Europe (ING IM) has been selected by Luxembourg’s “Fonds de compensation commun au régime general de pension” (FDC) to manage a €400 million Global Equity mandate.
ING IM will manage the mandate using their Sustainable Equity strategy, which is measured against the MSCI World Total Return (net) benchmark, expressed in US dollars and converted to euro. The lead portfolio manager will be Hendrik-Jan Boer.
Ivar Roeleven, head of Mutual Funds, Europe at ING Investment Management, says the significant win “reflects the rigorous nature of our processes as well as the performance of our strategies”.
FDC is the Luxembourg state-owned institution which manages the financial reserves of the state pension scheme. At the end of 2011, it had €10.5bn in assets under management. FDC currently has a 30% exposure to equity, with 25% coming from global and the other 5% from emerging markets.