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MN scales back 'over-ambitious' innovation project, writes off EUR15m

Mar 6, 2017 - Investment & Pensions Europe

MN, the asset manager for Dutch metal industry pension schemes PMT and PME, has written off EUR15m of a EUR70m innovation project, which has largely failed to deliver.

In an interview with IPE's sister publication Pensioen Pro, it indicated that the project - known as MN 3.0 - was "over-ambitious" and has been drastically scaled back.

MN 3.0 was meant to reduce costs by 30% by 2018 and decrease the number of administrative errors caused by manual handling at the EUR114bn asset manage

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