A BlackRock representative said the asset manager “noted PFZW’s redemption in the first half of 2025”, adding that it continues to help clients, including those in the Netherlands, meet their sustainable investing goals.
BlackRock has lost a mandate worth EUR14.5 billion ($21.77 billion) with one of the largest pension funds in the Netherlands, amid concerns the world’s biggest money manager isn’t acting in the best interests of clients when it comes to climate risk.
PFZW, which oversees about EUR250 billion, will instead rely on Robeco, Man Numeric, Acadian, Lazard, Schroders, M&G, UBS and PGGM to oversee an equity portfolio worth some EUR50 billion, a spokesperson for the pensions manager told Bloomberg on Wednesday.
