Over the past few years, as several large multinational companies set up tailor-made asset pooling solutions, it looked as if asset pooling for pensions was about to break through as a must-have solution for all companies with pensions plans across Europe. However, tailor-made asset pooling solutions turned out to be highly complex and costly to implement. In addition, the financial crisis forced companies to focus on more urgent problems. As a result, attention for asset pooling waned. With the advent of multi-client asset pooling solution in 2009, asset pooling became attainable for international companies of all sizes for the first time.
Alexander van Ittersum, author of the white paper, states: ‘Asset pooling was developed to help companies with international operations to gain a clear overview of their pension assets and to take advantage of their international scale. Importantly, asset pooling provides clear benefits for all stakeholders – it reduces complexity for corporate headquarters, provides a high quality asset management solution for local subsidiaries and provides local trustees with good investment performance and increased diversification at a lower cost.'
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