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BNY Mellon has been selected to provide custody and associated value added services to EUR2.8bn in assets held by Pensioenfonds Horeca & Catering (PH&C). PH&C is a Dutch regulated industry-wide pension fund for the hotel, restaurant and catering business. With over 800,000 participants and 30,000 employers, PH&C is one of the top ten largest pension funds in the Netherlands. In addition to core custody, BNY Mellon will provide a range of services including recordkeeping, investment accounting, advanced performance measurement services, Dutch regulatory reporting, securities lending, compliance monitoring, passive currency overlay, global collateral management and global class action services. "After an extensive due diligence process, we chose BNY Mellon because of its financial stability, strong technology reinvestment programme and its proven record in respect of service standards, client focus and relationship management," said Ernst Hagen, head of asset management at PH&C.
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