# Stichting Pensioenfonds Coram

Stichting Pensioenfonds Coram is a Pension Fund based in Almere, Netherlands.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Almere, Netherlands
- **Region:** Europe
- **Address:** Almere, Netherlands
- **Founded:** 1977
- **Assets under management:** $70–75M (Altss estimate)
- **Website:** corampensioenfonds.nl

## Regulatory record

- **Reports private funds:** No

## About

The pension fund was established to serve workers of Coram Group, a privately held manufacturer headquartered in Zaltbommel, Netherlands, with roots tracing to Tijger Plastics (1950). Coram operates globally in bathroom furnishings and precision plastic components. The fund's sponsor relationship remained with the Van Kempen family, who own 100% of the industrial group. By early 2022, the fund closed to new participants as the sponsor moved away from maintaining an independent company pension vehicle. The fund's investment strategy was conservative and liability-driven, typical of small Dutch corporate pension plans. Assets were pooled across fixed-income instruments and low-risk credit. No direct private equity, venture capital, or real estate mandates were evident. The entire portfolio functioned as a defined-benefit structure, with the board aiming to preserve solvency ratios under the Dutch Financial Assessment Framework. No named fund managers or external advisors appear in the vehicle's public record. On October 30, 2024, the fund executed a collective value transfer of its €68 million in assets and all corresponding pension obligations to a.s.r., the Utrecht-based insurance group. Willem van den Berg, COO Life at a.s.r., oversaw the onboarding. The transaction moved roughly 800 deferred and retired participants onto a.s.r.'s guaranteed indexation platform, eliminating future solvency risk for the sponsor and insulating beneficiaries from market volatility. The structural differentiator is its finality. Coram's pension fund did not convert to a multi-client vehicle, remain under family-office management, or persist as a dormant shell. It was wound down and absorbed — a clean exit from pension administration by a mid-market industrial owner. For allocators, this marks the end of an investable entity, though a.s.r. will now steward the assets inside its broader insurance general account.

## Questions

### How were the fund's assets invested?

As a small closed pension fund with defined-benefit obligations, the portfolio emphasized fixed-income and high-quality credit to match liability cash flows. No known allocations to private equity, hedge funds, real assets, or direct lending existed. The conservative posture aimed exclusively at maintaining solvency, reducing duration gaps, and covering promised indexation.

### What was the governance structure before the transfer?

The fund operated under a standard Dutch paritaire model, with employer and employee trustees on the board. Solvency compliance fell under the Dutch Pensions Act and IORP II directive. The board reported to De Nederlandsche Bank and the AFM on funding ratios, investment policy, and indexation decisions.

### What happens to participants after the a.s.r. transfer?

All 800 participants — active deferred and retired members — now receive benefits from a.s.r.'s guaranteed indexation platform. a.s.r. assumes full longevity, investment, and inflation risk. Participants no longer bear any solvency risk tied to Coram's industrial business, a key rationale stated for the wind-down transaction.

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Last updated: 2026-06-03T20:00:00.000Z

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