JPMorgan Acts as Transition Manager for €11.7bn Doctors Pension Funds
JPMorgan has announced it has been awarded the transition management mandate for Doctors Pension Funds in the Netherlands. Following a review, the €11.7bn pension fund is shifting from internal to external fund management. The funds consists of Stichting Pensioenfonds voor Huisartsen, a scheme for general practitioners, and Stichting Pensioenfonds Medische Specialisten, a scheme for medical specialists. The assets in the two funds will be managed by 30 external fund managers. As part of the restructuring, €9bn in government bonds has already been transitioned.