Spoorwegpensioenfonds, the â¬12bn (ã9.5bn) pension scheme for the Dutch railway sector, has hired five new asset managers to look after new mandates in tactical investment, microfinance and emerging market debt, after it withdrew almost â¬1bn from equities last year.
The scheme had 45% of its assets invested in stock markets at the end of the year, according to the mandate-tracking news service MandateWire. The railway fund's commitment to the new funds has been partially funded by its shift away from stocks.
