Ralf van Baast

SAMCo and external asset managers, which the firm appoints on behalf of the Pension Fund, implement the investment policy.

FIM-N is an active investment manager following a growth-and-value investment style. Their investment philosophy emphasizes innovation, flexibility and customization to their clients' needs. Their investment approach is bottom-up, based on fundamental research and in-depth knowledge of the markets in which they specialize. FIM-N invests in equity and debt globally, and in third-party funds. Equity investments focus on the Netherlands, the UK and Europe, and also include investments in emerging markets. FIM-N invests indirectly in real estate throughout Western Europe. In addition to performances, multi-manager selection considers the manager's investment style and research process, assessed through visits to asset management firms. Proprietary research is shared within the Fortis Investments global network, and combines quantitative and qualitative analysis. Research focuses on valuation, assessing asset quality and identifying catalysts likely to unlock value. Fortis Investments believes that performances depend more on sector allocation than on regional allocation. They favor sector leaders representing quality among their peers. Their investment decisions are based on a blend of company and sector views with macroeconomic analysis. Fortis Investments emphasizes accountability. Within the allocation framework defined at the global level, small teams of portfolio managers operate autonomously under the supervision of the asset class CIO. The firm's products are managed using a core model portfolio, customized for each client.

BNPP AM Netherlands is an active boutique manager which aims to deliver superior risk-adjusted returns by making high-conviction investment decisions based on in-house proprietary research. The firm manages a range of active investment strategies – both fundamental and quantitative, in addition to strategies managed to replicate specific indices and benchmarks – across a wide universe of assets extending from equities, fixed income, multi-asset and LDI solutions to alternatives. The BNPP AM Netherlands investment teams manage portfolios that are adjusted according to clients' specific investment objectives and constraints and are fully accountable for their investment performance and rewarded for their risk-adjusted returns.