Dirk Broeders

Does it pay to pay performance fees?

A new study finds no statistical evidence that returns of pension funds that pay performance fees for active investing are significantly higher or lower than the returns of pension funds that don't.

Dirk Broeders, David Rijsbergen and Arco van OordMarch 12, 2019

Performance fees hardly worth it

An analysis of 218 Dutch pension funds has shown that paying performance fees has little impact on performance. Size of fund and specialisation were deemed more important for net returns.

Amanda WhiteJuly 19, 2017

Longer horizons lead to more investment

Dutch research has found that pension funds with longer horizons do hold more illiquid assets, but the correlation wanes after about 17 years and other factors also affect illiquidity tolerance.

Dirk Broeders, Kristy Jansen and Bas WerkerApril 27, 2017

More evidence big is better in pension funds

A pension fund that has 10 times more assets under management has on average 7.67 basis points lower annual investment costs according to a working paper from authors at De Nederlansche Bank, that explores the relationship between pension fund size and investment costs. Written by Dirk Broeders, Arco van Oord and David Rijsbergen the paper […]

Amanda WhiteJuly 3, 2015

Uncategorised posts

Holland’s hybrid: defined ambition

Jan Tamerus, actuary director at PGGM, was instrumental in developing the new Dutch pension defined-ambition structure. Back in 2006, he was involved in looking at the sustainability of the defined benefit system and in concluding it was not in fact sustainable, the idea of defined ambition evolved. One of the key reasons for not going […]

Amanda WhiteMay 1, 2013

Uncategorised posts

Broeders develops risk-sharing formula

Senior economist, supervisory strategy at De Nederlandsche Bank, Dirk Broeders, has completed research which calculates an explicit formula for risk sharing by pension funds.

Amanda WhiteOctober 20, 2010