F&C Management, the asset management arm of insurance conglomerate Eureko, has been selected to manage the newly created Dutch transport industry early-retirement fund.

The fund has the potential of 100,000 members. Using actuarial calculations on the potential number of members, their annual contribution rate and matching assets and liabilities, the scheme could give Robert Jenkins, chief executive of F&C, an extra €250m ($247m) annually over a seven-year period, adding up to a mandate of €1.75bn.