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Article: News: Goldman Sachs to run PGGM global portfolio.(Brief Article)
- Article from:
- Financial Times Mandate
- Article date:
- June 14, 2004
CopyrightCOPYRIGHT 2004 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dutch pension fund PGGM has appointed Goldman Sachs Asset Management (GSAM) to manage a global tactical asset allocation (GTAA) mandate using derivatives for a notional e1bn of assets.
The e53bn pension scheme for Dutch healthcare workers selected GSAM from a shortlist of managers, whose names haven't been disclosed.
Ellen Habernehl, spokeswoman for PGGM, said the main reason why it decided to implement a GTAA strategy was the potential for bringing into its portfolio more returns than those achieved by traditional investments. Because of the complexity of managing these strategies in-house, she said the outsourcing route was "the most cost-efficient ...