SPF Beheer provides the asset management for the Spoorwegpensioenfonds and the Pensioenfonds Openbaar Vervoer. About 60% of the assets are managed by SPF Beheer internally. The remainder part is invested via third party funds that are selected by SPF Beheer. In the end, our clients have the final say on what to invest in. They determine the asset allocation, and could even demand SPF Beheer to divest from a specific sector or company. Yet, not every potential investment is discussed. In general, clients decide on the asset allocation and whether they want to avoid certain sectors and SPF Beheer decides what specific companies to invest in.