PGGM awards M&G Investments with 2.2 billion equity impact mandate

PGGM awards M&G Investments with 2.2 billion equity impact mandate

September 15, 2025

Impact investing Pensionfunds

M&G Investments (M&G) today announces it has been selected to manage a £2.2 billion (€2.6 billion¹) active, sustainable public equity mandate from PGGM – a leading pension fund service provider in the Netherlands on behalf of Dutch pension fund PFZW and its circa 3 million participants. Funded in June this year, this partnership marks the growing momentum and commitment from European asset owners towards sustainable investment solutions.

PGGM, driven by its mission to provide high quality and sustainable pensions for its PFZW’s participants, has sought a partner in M&G capable of achieving an optimal balance between return, risk, and sustainability - aligned with the Sustainable Development Goals (SDGs) - within its listed equity portfolio.

The £2.2 billion mandate is modelled on M&G’s pioneering Positive Impact Fund (the Fund) – a strategy that combines robust investment returns with measurable societal impact since 2018. Purpose built as a dual objective impact equity strategy, it blends quantifiable societal and environmental outcomes with long-term financial performance.

The strategy is managed by highly experienced fund manager and team head, John William Olsen, together with the wider Impact Equities team and Head Impact Strategist, Ben Constable-Maxwell, who oversees the impact approach. Together they have established M&G as a pre-eminent force in the public equity impact investment landscape. A disciplined proprietary ‘Triple I’ framework encompassing Investment, Intention and Impact, guides the selection of high-conviction listed companies that address global societal and environmental challenges, all whilst aiming to deliver robust, long-term returns.

Joseph Pinto, Chief Executive Officer of M&G Investments, said: 'This mandate is testament to M&G’s growing impact capabilities across asset classes and the strength of our approach, expertise and proprietary framework in impact public equities that’s been cultivated over many years. It underscores the increasing demand for actively managed, research-led equity strategies that are resilient in the face of both economic and environmental change. We are proud to be awarded this mandate by PGGM to serve the millions of Dutch participants entrusting us with their retirement savings.'

Sander van der Wel, M&G’s Director of Institutional Business Development in the Netherlands, added: 'By embedding sustainability into a mainstream equity mandate, PGGM has demonstrated that sustainability is integral when seeking to generate risk adjusted returns and, as a leader in this sector, will push the wider industry towards ever higher sustainability standards. Our partnership demonstrates how we can help clients achieve their sustainability objectives alongside investing for growth on behalf of millions of people saving for their retirement.'

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