NETHERLANDS – The e150bn Heerlen based ABP pension fund has appointed US equity quant manager Advanced Investment Technologies (AIT) to manage a large cap core equities portfolio.

ABP says no further details about the mandate are to be given, although AIT is one of the investment managers incorporated in the fund’s joint venture with US asset manager State Street under the name State Street Global Alliance LLC.

The alliance, created in February 2001 aims to seek out innovative asset management firms and provide them with seed capital.

ABP has also sold a 23.9% stake in property group Rodamco North America (RNA) to Westfield Holdings, one of the world’s largest shopping centre developers, as part an increased international spread of its investments and an attempt to increase liquidity.

The transaction reduces ABP’s stake in RNA to 6.6% and follows a five year reduction programme for ABP in most of its major shareholdings.

The fund, which has a long relationship with Westfield, commented that it believed that with Westfield as a major shareholder, RNA would enjoy substantial shareholder value.

At the end of 2000, ABP’s asset mix consisted of 52.5% fixed-income, 38.5% equities and 9% real estate.




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