State Street has been appointed by Stichting Pensioenfonds SABIC Innovative Plastics in the Netherlands to service its 700 million in pension fund assets. State Street will provide custody, accounting, monthly performance measurement and currency overlay services. It has been providing investment analytics services to the pension fund since 1991.
State Street was able to support our pension assets with a wide range of comprehensive investment servicing solutions, said Arthur Smit, managing director of Stichting Pensioenfonds SABIC Innovative Plastics. When we sought a new partner for these additional services, State Street emerged as the strongest provider.
Pensioenfonds SABIC Innovative Plastics in Bergen op Zoom is an open, defined benefits scheme for global plastic resins supplier SABIC Innovative Plastics (formerly known as General Electric Plastics). The pension fund services approximately 5,000 participants of whom 1,450 are active members.
(JDC)