Key Takeaways
- • PMT Pensioenfonds Metaal & Techniek, the Dutch metal and technical workers pension fund, is described as the Netherlands' third largest pension fund, with a 2025 asset allocation of 57.2% fixed income, 31.2% stocks, 10.7% real estate and 0.9% other investments, per the fund's latest annual data.
- • Scenario testing has placed inflation risk at the center of PMT's agenda, prompting a review of the inflation protection its infrastructure equity allocation provides, according to an interview with CIO Hartwig Liersch in Top1000funds.com.
- • PMT has developed a bespoke developed-market equity benchmark that combines ESG criteria, long-term return expectations and beneficiaries' sensitivities, replacing its previous passive strategy; the index screened out many previously held companies and reduced US equity exposure.
- • PMT has tightened ESG screens on its equity and bond allocations and expanded engagement with companies on climate awareness.
- • Coverage also references PMT's work on equity concentration risk, a risk toolkit review led by CIO Theo Jeurissen, and a collateral risk solution, though the available text for these items is truncated.
Summary
PMT Pensioenfonds Metaal & Techniek, a Dutch pension fund for metal and technical workers, is led by Terry Troost (employers) and V. Claar (employees) on its board, according to the fund's listing. As of December 31, 2025, the fund's reported asset allocation was 57.2% fixed income, 31.2% stocks, 10.7% real estate and 0.9% other investments. Top1000funds.com described the fund as the Netherlands' third largest pension fund.
According to Top1000funds.com, scenario testing has elevated inflation risk at PMT, prompting the fund to re-examine the inflation protection its infrastructure equity holdings provide. In an interview with the publication, chief investment officer Hartwig Liersch discussed this risk alongside a separate initiative to manage concentration risk in the equity allocation without sacrificing returns.
PMT has also developed its own developed-market equity benchmark, which combines ESG considerations, long-term return potential and the sensibilities of current beneficiaries with its previous passive approach. Coverage describes the index as having screened out many companies PMT previously held and reduced its allocation to US equities. Earlier reporting described the benchmark as being introduced to align investments with the fund's ESG principles, with the fund then reported at $81 billion; a later item cited a €72 billion figure.
PMT has further increased the ESG screens applied to its equity and bond portfolios and stepped up engagement with companies to build climate awareness. Additional coverage references a review of risk tools led by CIO Theo Jeurissen and a collateral risk solution, though the retrieved text for these stories is incomplete.
According to Top1000funds.com, scenario testing has elevated inflation risk at PMT, prompting the fund to re-examine the inflation protection its infrastructure equity holdings provide. In an interview with the publication, chief investment officer Hartwig Liersch discussed this risk alongside a separate initiative to manage concentration risk in the equity allocation without sacrificing returns.
PMT has also developed its own developed-market equity benchmark, which combines ESG considerations, long-term return potential and the sensibilities of current beneficiaries with its previous passive approach. Coverage describes the index as having screened out many companies PMT previously held and reduced its allocation to US equities. Earlier reporting described the benchmark as being introduced to align investments with the fund's ESG principles, with the fund then reported at $81 billion; a later item cited a €72 billion figure.
PMT has further increased the ESG screens applied to its equity and bond portfolios and stepped up engagement with companies to build climate awareness. Additional coverage references a review of risk tools led by CIO Theo Jeurissen and a collateral risk solution, though the retrieved text for these stories is incomplete.
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