The Board establishes the strategic investment policy, for a three-year period each time. This dfines the allocation of investments between the various investment categories. Examples of investment categories are equities (shares) and fixed-income investments (such as bonds). The investment categories are in turn subdivided into different regions of the world, such as Europe, the United States and Japan. |
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The Actuarial and Operating Memorandum (Actuariële en Bedrijfstechnische Nota, ABTN) sets out the guidelines for managing the investment risks. Shell Asset Management Company B.V. (SAMCo) and external asset managers are responsible for implementing the investment policy on behalf of the Pension Fund. SAMCo appoints these external asset managers on behalf of the Pension Fund. |
