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Agenda

Agenda. 09:00 – 10:00: The Dutch Pension system Herman Wijffels 10:00 – 11:00: Shell Pension fund Willem Handels 11:00 – 12:00: An introduction to APG Jeroen van Gelderen 12:00 – 13:00: Lunch. An introduction to APG Owned by pension funds, for pension funds. Jeroen van Gelderen

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Agenda

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  1. Agenda • 09:00 – 10:00: The Dutch Pension system Herman Wijffels • 10:00 – 11:00: Shell Pension fund Willem Handels • 11:00 – 12:00: An introduction to APG Jeroen van Gelderen • 12:00 – 13:00: Lunch

  2. An introduction to APGOwned by pension funds, for pension funds Jeroen van Gelderen Amsterdam May 19, 2010

  3. In the Netherlands, pension services are in most cases outsourced to professional financial institutions, pension delivery organisions (PDOs). • Asset management and investment services • ALM • Investment advisory services • Asset management • Risk management • Reporting • Custody services • Treasury • Pension administration • Support to the Board of Trustees • Advisory services • Reporting and annual report • Collection of contributions • Pay-out phase • Administration • Communication Pension Delivery Organisations (PDOs)

  4. Dutch pension service providers Source: Annual Accounts Source: Annual Accounts

  5. Dutch pension service providers Source: Annual Accounts Source: Annual Accounts

  6. Profile of APG • Established in 2008, but with a long tradition and experience in managing pensions • Result of a merger of APG and Cordares • Servicing, among others, the pension fund for the public sector, the building sector, housing and the cleaning industry • Assets under management amount to more than EUR 230 bn • Servicing 20,000 employers and more than 4 mln plan members • Owned by pension funds • No profit maximisation • Offering a full range of pension services

  7. Strategy of APG Enhancing the Dutch collective pension system (2nd pillar) by offering high quality at a reasonable price Business Products / services Integrated approach, but always fitting fund-specific requirements and demands Clients Focused approach, in order to quarantee high level of quality

  8. Integrated approach towards pension services Board of Trustees • General support • Risk management • Advisory services Assets Liabilities • ALM • Advisory services • Pension fund asset management • Targeted at fund objectives • Long term perspective • Reporting • Custody • Collection of contributions • Administration • Communication • Payments • Reporting • All fund specific

  9. Asset management Characteristics asset management • Two basis portfolios aimed at specific risk/return profile • Focus on pension specific asset management • Alignment fund and asset manager • Focus on implementation and innovation • ESG Advantages for pension funds • Alignment with overall objectives of the fund • Innovative & socially responsible • Long term, pension related focus • Access to alternative asset classes • Low costs AssetManagement ‘Income Portfolio’ • Treasuries • Index Linked Bonds • Credits • Cash • Infrastructure • Absolute Return Strategies • Liability Hedging Alternatives ‘Growth Portfolio’ • Developed equities • Emerging equities • Private equity • Real Estate • Commodities • Return Optimizing Strategies • Innovations ‘Portfolio optimization platform’ • Allocatie and overlay • Treasury and trading • Strategy and research

  10. Characteristics Account management is key Strong link with social partners Expertise with respect to legal and financial pension issues Strong presence in “The Hague” and “Brussels” Expertise and experience with pension fund communication Effective and efficient collection of pension fund contributions Overall approach to income-substituting old-age benefits Benefits for pension funds High quality at a reasonable price “Best in class” advise Fund-specific approach “Fiduciary” approach with respect to servicing employers and plan members Transparant communication to plan members Operational excellence If desired, more than only pension services in relation to old-age benefits Pension administration

  11. APG, all round pension provider Bundling pension-expertise and -control • Pension policy/advisory services • Financial control • Risk management APG Group ‘Shared framework’ Asset management Pension admini-stration ‘Cordares’ Pension admini- stration ‘APG’ Supple- mentary products ‘Loyalis’ ‘Shared services’ • IT-supply • Procurement • Facilities • Payments & receivables APG Group

  12. Contact details Jeroen van Gelderen Senior Actuary Consultant • J.vanGelderen@cordares.nl • +31 20 583 35 86 Ruben Laros Junior Business Developer • Ruben.laros@apg.nl • +31 20 604 92 14

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