APG has announced that it will invest exclusively for Dutch pension fund ABP from around 2030.

The news builds on ABP's vision for the future, which was adopted at the end of 2024, and outlined the funds' intent to keep maximum investment returns at 'acceptable risk' and to keep costs as low as possible.

"If APG, as an asset manager, also serves other clients, it adds extra complexity, which does not necessarily yields extra returns," commented ABP chairman Harmen van Wijnen.

As of the end of November 2024, APG managed about €552bn in pension assets for ABP, and approximately €75bn euros for the pension funds BpfBouw, SPW, and the employee pension fund PPF APG.

These customers will therefore switch to another asset manager around 2030.

ABP chairman and APG CEO, Annette Mosman, confirmed that the changes will only take effect after all eight APG customers have transitioned to the renewed pension system.

Despite the shift in its asset management focus, APG also confirmed that it will continue to do pension administration work for various clients, so that it can benefit from economies of scale.

However, APG will set up teams in this part that focus exclusively on serving ABP participants and employers.

APG will work to develop specific operational models in consultation with APG's other shareholder, Sociaal Fonds Bouwnijverheid, and all funds involved, this year.

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