Dutch pension fund manager prepares UK push

APG, the fund firm owned by the Netherlands' largest pension fund, is preparing to fight forpension management and administration business in the UK as partof its cross-border expansion plans, an APG executive said.

In 2010 the fund manager, which has about 205 billion euros($309 billion) under management, will pitch for mandates in theUK with assets of hundreds of millions of euros, said Jaap Maassen, APG's senior vice president for international business.

APG spent 2009 focused on consolidating its position in the Netherlands following the merger with construction industry pension fund Cordares in 2008, Maassen said on Monday on the sidelines of the sidelines of the Multi Pensions 2009 conference.

"We are looking at the UK, Belgium and Italy. We are lookingat mandates both in asset management and pension administration," he said.

The fund manager, which was created in 2008, sealed a partnership in Italy last year with pension fund servicesprovider PensPlan to gain a foothold in the Italian pension industry, which is expected to grow as a result of a reform approved in 2004. In the United Kingdom, which like the Netherlands is home toone of Europe's more developed pension industries, APG will face strong competition, which Maassen hopes he can head off by touting APG's experience in administration services.

"We also have access to less liquid assets like private equity and complex products like hedge funds," Maassen said. ($1=.6635 Euro)