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Blackrock Loses $17 Billion Mandate at Dutch Pension Fund Pfzw
7 Articles
7 Articles
PFZW, a capitalised pension fund with 248 billion euros in the Netherlands, ended Wednesday, September 3rd with a mandate of 14 billion euros that tied it to the US asset manager BlackRock, in order to favour sustainable investments. A new sign of the widening gap in green finance between Europe and the United States.
BlackRock, LGIM Lose $34 Billion in Mandates from Dutch Pension Fund’s Shift to Sustainability-Focused Investment Policy
Dutch pension fund PFZW revealed significant changes in its external investment manager lineup, including pulling approximately €29 billion (USD$34 billion) in mandates from BlackRock and LGIM, as it implements a shift in its investment policy towards a more sustainability and active management focus. In a statement provided to ESG Today, a PFZW spokesperson said: “PFZW has been developing a new investment strategy where financial performance, r…
The 250 billion euro pension fund has chosen to entrust the management of its stock portfolio to a group of other managers, in a context of declining issues of responsible investment and climate risk treatment for some US managers.
The asset manager has lost a mandate worth $17 billion with a largest pension fund in the Netherlands.
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