Investment management and advisory
We aim to ensure good pensions and contribute to a liveable world through our investment advice and asset management. As of 2024, we exclusively manage public market investments for PFZW. This is also the intended end state for private market investments.
Investing in numbers
Assets under management
EUR billion
2024
261,0
2023
240,4
Achieved return
2024
7,7%
2023
8,2%
Percentage
Achieved return
EUR billion
2024
18,6
2023
18,3
How Data Mesh helps achieve Strategy 2030 goals
Daniëlle Bourgondiën, Program Manager Data Mesh Transformation, introduces you to the world of Data Mesh at PGGM. The Data Mesh Program focuses on developing an innovative data platform and enhancing data awareness and literacy within the organisation, supported through training and events. This helps enable well-informed decisions by using data effectively. In this video, Daniëlle explains how Data Mesh helps PGGM achieve the ambitious goals of Strategy 2030. Watch and discover how Data Mesh plays a crucial role in shaping the future of PGGM.
A future-proof investment organisation
In 2024, we continued to strengthen our investment organisation in preparation for the future. We want to be able to respond flexibly to global developments and the new pension system, while continuing to meet the ambitions of our client, PFZW.
For this reason we have developed a renewed investment process that allows us to better manage return, risk and sustainability. It simplifies asset management, speeds up decision-making and increases our agility. Implementation of this new approach began in early 2025.
A key milestone was the decision to manage all listed investments exclusively on behalf of PFZW. This enables us to streamline our processes, report more effectively and shape our sustainability goals more concretely. At the same time, we are building an organisation where systems, processes and teams are fully equipped to support this integrated way of working.
We also made important organisational changes. PGGM Vermogensbeheer and PGGM Advies Vermogensbeheer are now managed under a single executive board. In 2025, we will launch a new department responsible for the integrated management of the total portfolio. We are also investing in technology, data and the development of our people. In doing so, we are preparing, together with PFZW, for a future that delivers strong and sustainable pension outcomes.
In 2025, we will launch a new department responsible for the integrated management of the total portfolio.
Strong financial performance and long-term value
Together with our client PFZW, we aim for an investment portfolio in which return, risk and sustainability are weighed equally. Our goal is to deliver market-level returns, within acceptable risk limits, while maintaining a relatively high degree of sustainability.
The Credit asset class is the first area in which this integrated vision has been fully implemented. This article outlines how this was achieved, from the initial idea through to practical implementation.
We have also put the ambitions of the new impact mandate, Climate and Energy Transition Solutions (CETS), into practice. Through this mandate, we invest in companies that contribute to the energy transition in Europe in a variety of ways. We have already invested in companies that capture CO₂ from the air, recycle industrial gases, and supply green energy to heavy industry such as steel plants using innovative processes.
In 2024, approval was also granted for a second impact mandate focused on the Dutch health and welfare sector.
Under this mandate, we will invest on behalf of PFZW in companies that offer solutions to the challenges facing this sector and contribute to its long-term sustainability. For example, we have invested in Momo Medical, a company based in Delft that develops bed sensors for healthcare.
With these impact investments, we aim not only to generate financial returns, but also to contribute to climate goals, public health and biodiversity. Together with PFZW, we have defined measurable impact targets, such as reduced emissions, improved health outcomes and better nature conservation. We use the Theory of Change model to clearly demonstrate how each investment supports these goals, enabling us to measure and report on our impact in a meaningful way.
20 years of infrastructure investing: a milestone!
This year we celebrate 20 years of investing in infrastructure on behalf of our clients.
Direct investments by PGGM Infrastructure
Active ownership as a strategic advantage
Infrastructure is an asset class that aligns well with PFZW’s objectives. It allows us to invest directly in companies that provide essential services to society, such as public-private partnerships, energy, transport and digital infrastructure. At the same time, these investments generate stable, often inflation-linked income. This combination makes infrastructure a particularly attractive investment.
Read more
WIFS event recap
We are looking back at the 4th edition of the WIFS (Netherlands) Dive In Festival, where the Top 50 Women in Sustainable Finance was launched. During the festival, which featured contributions from Karin Bouwmeester and Geraldine Leegwater, the importance of diversity and inclusion for the transition in the financial sector was strongly emphasised. Highlights included the importance of male allyship, inspiring nominee stories, and a call for greater self-confidence among women. For more information about WIFS (Netherlands), follow them on LinkedIn or visit their website.
Investment management and advisory
We aim to ensure good pensions and contribute to a liveable world through our investment advice and asset management. As of 2024, we exclusively manage public market investments for PFZW. This is also the intended end state for private market investments.
Investing in numbers
Assets under management
EUR billion
2024
261,0
2023
240,4
Achieved return
2024
7,7%
2023
8,2%
Percentage
Achieved return
EUR billion
2024
18,6
2023
18,3
A future-proof investment organisation
In 2024, we continued to strengthen our investment organisation in preparation for the future. We want to be able to respond flexibly to global developments and the new pension system, while continuing to meet the ambitions of our client, PFZW.
For this reason we have developed a renewed investment process that allows us to better manage return, risk and sustainability. It simplifies asset management, speeds up decision-making and increases our agility. Implementation of this new approach began in early 2025.
A key milestone was the decision to manage all listed investments exclusively on behalf of PFZW. This enables us to streamline our processes, report more effectively and shape our sustainability goals more concretely. At the same time, we are building an organisation where systems, processes and teams are fully equipped to support this integrated way of working.
We also made important organisational changes. PGGM Vermogensbeheer and PGGM Advies Vermogensbeheer are now managed under a single executive board. In 2025, we will launch a new department responsible for the integrated management of the total portfolio. We are also investing in technology, data and the development of our people. In doing so, we are preparing, together with PFZW, for a future that delivers strong and sustainable pension outcomes.
In 2025, we will launch a new department responsible for the integrated management of the total portfolio.
Strong financial performance and long-term value
Together with our client PFZW, we aim for an investment portfolio in which return, risk and sustainability are weighed equally. Our goal is to deliver market-level returns, within acceptable risk limits, while maintaining a relatively high degree of sustainability.
The Credit asset class is the first area in which this integrated vision has been fully implemented. This article outlines how this was achieved, from the initial idea through to practical implementation.
We have also put the ambitions of the new impact mandate, Climate and Energy Transition Solutions (CETS), into practice. Through this mandate, we invest in companies that contribute to the energy transition in Europe in a variety of ways. We have already invested in companies that capture CO₂ from the air, recycle industrial gases, and supply green energy to heavy industry such as steel plants using innovative processes.
In 2024, approval was also granted for a second impact mandate focused on the Dutch health and welfare sector.
Under this mandate, we will invest on behalf of PFZW in companies that offer solutions to the challenges facing this sector and contribute to its long-term sustainability. For example, we have invested in Momo Medical, a company based in Delft that develops bed sensors for healthcare.
With these impact investments, we aim not only to generate financial returns, but also to contribute to climate goals, public health and biodiversity. Together with PFZW, we have defined measurable impact targets, such as reduced emissions, improved health outcomes and better nature conservation. We use the Theory of Change model to clearly demonstrate how each investment supports these goals, enabling us to measure and report on our impact in a meaningful way.
Read more
Active ownership as a strategic advantage
Infrastructure is an asset class that aligns well with PFZW’s objectives. It allows us to invest directly in companies that provide essential services to society, such as public-private partnerships, energy, transport and digital infrastructure. At the same time, these investments generate stable, often inflation-linked income. This combination makes infrastructure a particularly attractive investment.
Direct investments by PGGM Infrastructure
This year we celebrate 20 years of investing in infrastructure on behalf of our clients.
20 years of infrastructure investing: a milestone!
We are looking back at the 4th edition of the WIFS (Netherlands) Dive In Festival, where the Top 50 Women in Sustainable Finance was launched. During the festival, which featured contributions from Karin Bouwmeester and Geraldine Leegwater, the importance of diversity and inclusion for the transition in the financial sector was strongly emphasised. Highlights included the importance of male allyship, inspiring nominee stories, and a call for greater self-confidence among women. For more information about WIFS (Netherlands), follow them on LinkedIn or visit their website.
Daniëlle Bourgondiën, Program Manager Data Mesh Transformation, introduces you to the world of Data Mesh at PGGM. The Data Mesh Program focuses on developing an innovative data platform and enhancing data awareness and literacy within the organisation, supported through training and events. This helps enable well-informed decisions by using data effectively. In this video, Daniëlle explains how Data Mesh helps PGGM achieve the ambitious goals of Strategy 2030. Watch and discover how Data Mesh plays a crucial role in shaping the future of PGGM.
How Data Mesh helps achieve Strategy 2030 goals