SPMS, the €10.2bn Dutch occupational pension fund for medical consultants, has started implementing a new risk management framework for its investment portfolio.
The rules govern who is responsible for setting levels of risk, how those risks are measured, who provides advice and who monitors risks.
The scheme said the framework included risks such as interest rates, counterparties, liquidity, and currency, and these were assessed against policy, procedure and reporting criteria.
In its annual report for 2017, the pension fund also detailed a new “three-line defensive model”.
Jeroen Steenvoorden, director of SPMS, said that the first defensive threshold comprised the scheme’s administrative bureau, while the second line of defense was made up of the scheme’s…
