Fiduciary management services became a hot topic in the Dutch institutional market over the last few years. This is important because the Dutch institutional market is the 4th largest in the world.

The Fiduciary trend was directly related to growing numbers of pension plans feeling that they were too small and/or not specialized enough to find the best service providers themselves, let alone run portfolios internally.

The changing global financial marketplace has definitely contributed to that. We went from a two-block (US-Europe) world to a three-block one (US-Europe-Emerging Markets). And that has complicated things to such an extent that many pension plans with assets under management below 1 billion Euros now want to outsource (some) tasks formerly performed internally. Additionally, new asset classes/products are growing in importance as well, such as hedge funds.

Compendeon believes in this fiduciary movement, since it is basically an outsourcing operation similar to what has been seen in many other industries. However, our Fiduciary Vision is not a simple YES! We believe that fiduciary outsourcing can only be successful when it is carried out in a transparent, independent and ‘best-of-breed’ way.