PGGM either invests in house or uses asset managers to invest on its behalf. Sometimes it appoints specialised fund-of-fund managers, who in turn select other (indirect) asset managers. PGGM seeks to offer its clients total transparency and be open about all these relationships. We also aim to provide comprehensive and genuinely useful information, rather than just data. We therefore provide five lists for clients:

List 1: Direct asset managers and investment mandates
List 2: Indirect asset managers
List 3: Listed equities
List 4: Listed bonds
List 5: Private investments

List 1: Direct asset managers and investment mandates
This list specifies the asset managers managing mandates on behalf of PGGM clients. The information includes the asset manager’s name, a description of the investment mandate, the asset categories involved and the market value of the mandate. If a fund-of-funds manager has been appointed, we provide the asset manager’s name, and details of the underlying (indirect) asset managers can be found in list 2.

List 2: Indirect asset managers
Where fund-of-funds managers have been appointed, this list provides information as to the underlying asset managers by name, along with details of the investment categories involved. Details of the relationship between the individual fund-of-funds manager and the underlying asset managers are not disclosed.

List 3: Listed equities
This list details listed equities by name, country, market value and sector and also states the approximate percentage of the interest in the company.

List 4: Listed bonds
This list details listed bonds by name, country, sector and market value.

List 5: Private investments
Private investments are investments not listed on a stock exchange. The list provides the name and country of the company in which we invest and the asset category involved, as well as an indication of the investment’s market value.