State Street Corporation has been appointed to provide a range of investment services for 620 million in pension fund assets of Royal Cosun, a food producer in the Netherlands.
State Street will provide Royal Cosun’s three pension funds with global custody, accounting, regulatory reporting, and performance measurement and analytics services.
“We have reviewed our requirements for financial services in view of a new fiduciary management mandate for the three Royal Cosun pension funds signed recently. State Street’s pro-active and professional approach has been one of the reasons to grant this mandate to them,” says Ab Matser, group treasurer of Royal Cosun and Cor Veraart, head of the pension desk.
Royal Cosun’s pension funds are Stichting Pensioenfonds Koninklijke Cosun, Stichting Pensioenfonds Aviko and Stichting Pensioenfonds Suiker 2007, with assets of 440 million, 100 million and 80 million, respectively.
“We are delighted to receive this new mandate from Royal Cosun. As our Dutch business continues to grow, this mandate is another testament to our success in meeting the complex needs of the sophisticated pension fund market in the Netherlands,” says Simone Vroegop, vice president and director of State Street’s investor services business in the Netherlands.