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TKP Investments has taken a multi manager investment approach since the late 1980s. The selected asset managers are considered to be the best in their respective asset categories. Only external managers manage TKP Investments client accounts.
TKP Investments multi manager approach:
- The pooling of specialist asset managers increases the chance of consistent outperformance whilst reducing risk;
- Robust and intensive selection process focusses on selecting the best managers per investment category worldwide;
- Important selection criteria are the investment philosophy, the investment process, personnel and organization, performance and diversification;
- Continuous monitoring based on portfolio information, company news, attribution analysis and risk and return measures;
- Clear termination process based on quantitative and qualitative criteria.
Dutch and international funds
TKP Investments provides investment funds with a European passport, UCITS, through an international pooling platform launched in 2009. Cross-border asset pooling allows companies with operations in different countries to pool their pension assets across borders. This pooling platform enables international clients to benefit from the expertise and experience of TKP Investments with the tax-transparent Dutch pooling vehicle, Fonds voor Gemene Rekening (FGR). For more information on the pooling solution for international companies, please contact AEGON Global Pensions.
TKP Investments employs a structured and disciplined investment process to select the best managers worldwide. This process consists of various steps, displayed in the underlying figure.
The TKP Investments team that is responsible for the selection and monitoring of external managers is stable, broad-based and highly experienced. Some members of the team have spent more than ten years working in the investment industry and, more importantly, in the multi manager industry. This aspect sets TKP Investments apart. Various investor team members are highly educated by post academic investments educations, like CEFA, CFA and CAIA, and are DSI registered.
Within the team, there are different specific interest areas, Equities & Fixed income, Alternatives and Portfolio Implementation & Treasury.
In addition to the knowledge and experience of the team in Groningen, use is also made of the expertise of colleagues from AEGON Transamerica in the United States, where a team of researchers focuses mainly on the US.
Risk management is an important part of the TKP Investments investment process. The selected external managers are monitored continuously by TKP Investments. Particular attention is given to the restrictions that have been contractually agreed with each manager. These might include restrictions on the countries where the manager may invest, the types of investment instruments that can be used, the concentration of the investments in specific sectors, or the minimum size of companies in which the manager invests.
The investment mandates by the external managers, are mainly managed on segregated accounts, and not via investment funds of the external manager. This enlarges the transparency for TKP Investments of the underlying investments of the external manager.
Next to the daily contacts about transactions and positions, formal contact takes place four times a year. In this way changes in investment style, philosophy, personnel and the organisation or other factors that may influence future performances, can be traced immediately.
