PRESS RELEASE

For immediate release

02 September 2014

The €3.2bn Dutch Pension Fund for Architects selects F&C as its fiduciary partner

Stichting Pensioenfonds voor de Architectenbureaus (the Dutch pension fund for architect practices - the fund) has appointed F&C Netherlands as its fiduciary partner. F&C will provide asset allocation and strategic advice (including asset liability management), and be responsible for manager selection and monitoring, and risk management and reporting.

The fund is responsible for the pension scheme of some 46,000 employees and former employees, and manages total assets of €3.2 billion (end of 2013). The fund is looking to put in place more professional investment management in an increasingly complex arena and have therefore decided to separate fiduciary management from asset management and reporting & control. It has selected F&C as its fiduciary manager after a tender process under the guidance of consultant Avida International.

Willem Jan Boot, chairman of Stichting Pensioenfonds voor de Architectenbureaus, commented:

"We want to implement a high-quality pension scheme at the lowest possible cost. To this end, we've defined a number of basic principles such a scheme should meet, which are to ensure robust risk insight and control and to mitigate our dependence on our external providers. A rigorous process of selection has led us to F&C as the fiduciary manager best placed, in cooperation with our asset managers PGGM Vermogensbeheer and Syntrus Achmea Real Estate & Finance, to help us meet these basic principles. We consider F&C a
proactive and decisive partner with a keen understanding of matters that we trustees need advising on, and are looking forward to a fruitful collaboration."
On behalf of the board of F&C Netherlands BV, Ben Kramer said: "We're proud and delighted that Stichting Pensioenfonds voor de Architectenbureaus has appointed F&C as its partner in fiduciary management, confirming the focused approach that we adopted in our corporate strategy in 2009. The current economic climate is increasingly leading institutional investors to look for committed partners that will proactively advise trustees and take a critically constructive view when circumstances so require. By making F&C its fiduciary partner, the fund will be able to focus even better on what should be the foremost priority for
a pension fund's trustees: strategy and risk management."

www.fandc.nl 02 September 2014

Press contacts

fandc.sc@fticonsulting.com
Tel: +44 (0) 20 3727 1888
Richard Janes
Director, Communications Richard.janes@fandc.comTel: +44 (0) 20 7011 4298

Notes to editors

About Stichting Pensioenfonds voor de Architectenbureaus

Stichting Pensioenfonds voor de Architectenbureaus was founded in 1958 to represent firms engaged in architectural activities. The fund is responsible for the pension scheme of some 46,000 employees and former employees, and manages total assets of €3.3 billion (end 2012). Over 1,800 employers have joined the scheme.

Social partners have tasked the fund with the administration and execution of the pension scheme on behalf of members, former members, retired workers and other stakeholders in the architectural sector. The fund's mission is to perform these flawlessly, at acceptable premiums, costs and defensible risk. The fund endeavours to ensure continuity and the highest possible certainty regarding nominal pension entitlements, and aspires to index-link these entitlements as much as is possible, in keeping with socio-economic trends. Members, former members, retired workers and other stakeholders know where they stand and what they can expect from the fund. For more information, visit the website: www.architectenpensioen.nl

About F&C

F&C is focused exclusively on managing money for its clients. It manages assets for a combination of insurance clients, institutional investors, intermediaries and private individuals. F&C invests across all major asset classes - equities, fixed income and property - and has specialist expertise in asset allocation, alternative investments, liability-driven investments, multi-manager, private equity funds and responsible investing. The F&C Group includes F&C REIT, a global real estate asset manager.
F&C has a strong footprint in the U.K. and the rest of Europe with assets under management of approximately £83 billion as at 30 June 2014. F&C has a rich heritage that dates back almost 150 years and
can be traced back to the founding in 1868 of the Foreign & Colonial Investment Trust.

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F&C is part of Bank of Montreal (BMO) Global Asset Management, a global investment manager with more than US$280 billion in assets under management as of 31 July 2014. BMO Global Asset Management is a part of BMO Financial Group (NYSE:BMO), a fully diversified financial services organisation with US$586 billion total assets and more than 47,000 employees as of 31 July 2014.
F&C's Investment Solutions department is in charge of fiduciary management in the shape of fiduciary advice, asset-liability management, asset allocation, derivative management, institutional manager selection and responsible investment advice. F&C's strategy has three planks: advisory solutions, partnership (fiduciary) management and dynamic asset & liability management; responsible investment advice and
investment; and specialist products.

www.fandc.nl 02 September 2014

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