# Stichting Pensioenfonds Avery Dennison

Stichting Pensioenfonds Avery Dennison is a Pension Fund based in Oegstgeest, Netherlands.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Oegstgeest, Netherlands
- **Region:** Europe
- **Address:** Oegstgeest, Netherlands
- **Founded:** 1982
- **Assets under management:** Undisclosed
- **Website:** pensioenfondsaverydennison.nl

## Regulatory record

- **Reports private funds:** No

## About

The fund was established to administer the collective pension scheme for employees of Avery Dennison in the Netherlands. Its governance board includes senior Avery Dennison treasury and tax executives—Ramon Tolk chairs the board while holding the title of Senior Director Treasury at the sponsoring corporation. This direct corporate oversight embeds the fund's operations firmly within the sponsor's financial control environment. Stichting Pensioenfonds Avery Dennison deploys its assets across a diversified global portfolio. Known positions include a commitment to the Northern Trust Developed Real Estate ESG Climate Index Fund, a passive vehicle that provides broad exposure to listed real estate in developed markets while applying ESG tilts. Beyond direct real estate, the fund's total investment portfolio reflects the typical Dutch pension blueprint: a blend of fixed income, public equities, and alternative asset classes. The mandate covers Dutch beneficiaries only, with investments managed externally. The fund operates entirely within the Dutch pensions ecosystem and maintains membership in Pensioenfederatie, the industry body for Dutch pension funds. It is also a signatory to the IMVB-convenant, a multi-stakeholder covenant on international responsible investment spearheaded by the Dutch government, civil society, and financial sector actors. Its structural posture is that of a classic continental European occupational pension—fully captive to a single corporate sponsor, governed by senior employees, and deploying through external fund structures rather than building internal direct-investment teams. Succession and strategic direction are dictated by the sponsor, not an independent fiduciary board, a governance architecture that ties the fund's operational horizon directly to Avery Dennison's corporate presence in the Netherlands.

## Sectors

- Real Estate

## People

- Ramon Tolk — Chairman of the Board
- Sabrina van Heijningen — Accountability Board member
- Cor-Hilde Van Beijeren — Non-executive board member

## Questions

### Who runs investment decisions at Stichting Pensioenfonds Avery Dennison?

Investment decisions are overseen by a board chaired by Ramon Tolk, Senior Director Treasury at Avery Dennison. The fund does not maintain a large internal investment team and relies on external asset managers to implement its strategic asset allocation. Day-to-day portfolio management is delegated rather than executed in-house.

### How is the fund related to Avery Dennison Corporation?

The fund is a single-employer occupational pension fund exclusively for Avery Dennison's workforce in the Netherlands. Avery Dennison Corporation serves as the sponsoring employer, and its senior executives hold key governance positions on the fund's board. The fund's existence is legally and operationally tied to the corporation's Dutch presence.

### What is the fund's known posture on responsible investment?

The fund is a signatory to the Dutch IMVB-convenant on international responsible investment, a formal, government-backed initiative that commits signatories to ESG due diligence, monitoring, and engagement. This membership reflects a structured approach to responsible investment beyond basic exclusions, integrated into the fund’s externally managed portfolio.

### Which sectors does the fund explicitly target or avoid?

The fund's public disclosures align with a broad global investment mandate without publicly stated sector exclusions. However, its commitment to an ESG Climate Index real estate fund and its IMVB-convenant signatory status suggest a tilt toward sustainability-oriented assets and an avoidance of entities linked to severe ESG controversies.

## Related profiles

- [Stichting Pensioenfonds Autoriteit Financiële Markten](https://altss.com/profile/stichting-pensioenfonds-autoriteit-financi-le-markten)
- [Stichting Pensioenfonds Campina](https://altss.com/profile/stichting-pensioenfonds-campina)

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Last updated: 2026-08-11T02:43:31.692Z

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