Aegon AM to Transfer its Dutch Fiduciary Management Activities (€26 Billion) to Van Lanschot Kempen
Aegon Asset Management announced on October 1, 2026 an agreement for the transfer of its Dutch fiduciary management activities to Van Lanschot Kempen Investment Management, accompanied by a strategic partnership in alternative credit securities. The transaction, which covers approximately 26 billion euros in assets, includes the planned transfer of around thirty employees in the Netherlands.
Aegon Asset Management (Aegon AM) announced the transfer of its Dutch fiduciary management activities to Van Lanschot Kempen Investment Management. These activities currently oversee approximately 26 billion euros in assets.
As a fiduciary manager, Van Lanschot Kempen advises pension funds on their investment policy and supervises its execution. The approximately 26 billion euros in assets related to Aegon AM's activities will be added to Van Lanschot Kempen's fiduciary assets under management, which stood at 98 billion euros (both figures as of June 30, 2026).
Pensioenfonds KPN and Algemeen Pensioenfonds Stap, the two largest fiduciary clients of Aegon AM, responded positively to the transfer proposal. Together, these two Dutch pension funds represent approximately 21 billion euros in assets as of June 30, 2026.
Transfer of Around Thirty Employees and Partnership in Alternative Credit
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Approximately 30 employees in the Netherlands are expected to be transferred to Van Lanschot Kempen. Aegon AM will continue to provide fiduciary clients with liquid multi-manager investment solutions and liability-driven investment services.
In parallel, the two parties agreed on a partnership under which Aegon AM will become Van Lanschot Kempen's strategic partner for alternative fixed income solutions. Van Lanschot Kempen will designate Aegon AM as strategic advisor to its Alternative Fixed Income Solution (AFIS) fund of funds and as the primary provider of its underlying alternative credit investment components.
According to the press release, the transaction and partnership are expected to have a marginal impact on Van Lanschot Kempen's CET1 capital ratio.
Entry into Force in Third Quarter 2027, Transition Until Mid-2028
The agreement for the transfer of Aegon AM's fiduciary management activities is subject to customary closing conditions and will enter into force in the third quarter of 2027.
The transfer of clients and activities will be carried out in phases and is expected to continue until mid-2028. The parties indicate that they are working with fiduciary management clients to ensure an orderly transition and the continuity of existing services.
On track to meet or exceed all Group financial ambitions for 2026
Risks mentioned
Changes in general economic and/or governmental conditions, particularly in Bermuda, the United States, the United Kingdom and in relation to Aegon's shareholding in ASR Nederland N.V., and Aegon's asset management business, the Netherlands
Civil unrest, (geo-)political tensions, military action or other instability in countries or geographic regions that affect our operations or that affect global markets
Changes in the performance of financial markets, including emerging markets, such as the frequency and severity of defaults by issuers in Aegon's fixed income investment portfolios
Opportunities identified
Transamerica delivered strong commercial growth with Individual Life sales growing by 54%, fueled by growth in the instant decision market and World Financial Group now exceeding 100,000 agents
Aegon Asset Management benefited from third-party net flows and positive market developments with international businesses continuing to grow, led by Brazil
Operating capital generation grew by 27% to EUR 416 million in the first half of 2026, enabling strong free cash flow generation
Outlook / guidance
Management commentary: On track to meet or exceed all Group financial ambitions for 2026
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
