Stichting Pensioenfonds voor de Architectenbureaus, the Dutch pension fund for architect practices, has selected F&C Netherlands as its fiduciary partner to manage €3.2 billion of its assets.

F&C has been granted the fiduciary mandate to provide asset allocation and strategic advice (including asset liability management). It will also provide manager selection and monitoring, and risk management and reporting.

The pension fund mandate will separate fiduciary management from asset management and reporting & control.

The fund is responsible for the pension scheme of some 46,000 employees and former employees.

In addition, Avida International acted as adviser during the tendering process and Triple A Risk Finance was appointed as additional adviser for asset-liability management.

Willem Jan Boot, chairman of Stichting Pensioenfonds voor de Architectenbureaus, said: "We want to implement a high-quality pension scheme at the lowest possible cost. A rigorous process of selection has led us to F&C as the fiduciary manager best placed, in cooperation with our asset managers PGGM Vermogensbeheer and Syntrus Achmea Real Estate & Finance, to help us meet these basic principles."

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Ben Kramer, board member of F&C Netherlands, said: "By making F&C its fiduciary partner, the fund will be able to focus even better on what should be the foremost priority for a pension fund’s trustees: strategy and risk management.

"Following the appointment of F&C as fiduciary manager, the pension fund’s board can now focus on essential issues, such as strategy and risk management," he added.