How we, NN Investment Partners, approach our fixed income partnerships.

1. Fixed Income
Partnerships
We build partnerships by focusing around
your needs, not benchmarks. Your needs are
as unique, and the path to achieving your
future goals is not always the well- traveled
one.

2. Insurance company deepens its partnership with NN
Investment Partners to make its financial holdings form a
better fit with its future liabilities.
The challenge
Our approach
Value to our partner
One of our advisory clients, an insurance company, needed to revise its strategic asset allocation to create a
better match in the duration of its liabilities and its assets. The client chose to outsource the management of
its portfolio, which had previously been managed against benchmarks that no longer accurately reflected its
future liabilities. Recognizing the potential mismatch between its investments and liabilities, the client was
looking for an asset manager with proven experience in overseeing the specific sorts of assets in its
portfolio, particularly with regard to the durations of many of the loan securities.
NN Investment Partners was able to make a winning pitch for the outsourcing assignment largely on the
merits of its strong capabilities in managing the sorts of loans that made up much of the client’s investment
portfolio.
The working relationship was one that gave NN Investment Partners autonomy to act as asset manager
while assuring full accountability towards the client. During the year and a half that the restructuring
required, we held meetings every quarter with the client to assess and fine-tune the process.
On top of these quarterly updates, there was direct communication in connection with each individual
transaction that took place as part of the restructuring process, as well as extra consultations between our
interest rate experts and the client’s actuaries. Our interaction went to the top levels of the company, where
we gave briefings to the management and supervisory boards on the use of derivatives, a new element in
the company’s portfolio that became a key element of the restructuring solution.
The time spent with the client at all levels of the company resulted in a fruitful relationship that built up
business for both partners. We were able to win the client’s confidence to such an extent that we were given
the autonomy to carry out the necessary actions to meet the client’s objective. At the same time we
recognized the responsibilities that went along with that autonomy. The client was kept actively informed at
every step of what became an educational process, one that positioned our partners to meet their future
financial challenges with confidence. As a result, the company now has an investment portfolio and strategy
that enable it not only to meet its future liabilities profitably but also to keep expanding its business with new
policies.

3. About NN Investment Partners
NN Investment Partners is the asset manager
of NN Group N.V., a publicly traded corporation.
NN Investment Partners is head-quartered in
The Hague, The Netherlands.
On April 7, 2015, we officially changed our name
from ING Investment Management to NN Investment
Partners. Our name is new yet we are the same
company we have always been: one with a
successful history of client-focused asset
management extending back to 1845.
NN Investment Partners manages in aggregate
approximately EUR 180 bln* (USD 202 bln*) in assets
for institutions and individual investors worldwide.
Employing over 1.200 staff, we are active in 16
countries across Europe, Middle East, Asia and U.S.
*Figures as of 30 September 2015
For more information on our investment strategies
or our mutual funds, please contact us or visit
www.nnip.com for more information.
We have always felt that lasting partnerships and the best results are built
around making clients’ challenges our challenges. For different organisations,
getting the most out of investments in a responsible way means different things.
At NN Investment Partners, we focus wholly on what this means for you and
provide the solutions that meet your needs.
Netherlands
+31 (0)70 378 1781
Germany
+49 69 50 95 49 0
Belgium
+32 2 504 47 00
France
+33 (0)1 56 79 34 50
Luxembourg
+352 2463 5140
Iberia & Latin America
+34 91 769 41 01
Czech Republic
+31 (0) 70-378 1112
Italy - Austria
+39 02 3031 6400
Nordics
+31 (0)70 378 1781
United Kingdom
+ 44 207 767 1220
Poland
+48 22 640 09 78
Singapore
+65 6632 3060
Romania
+40 21 402 85 50
Switzerland
+41 58 252 55 50
Middle East
+971 4 403 0800
US
+31 (0)70 378 1781
Japan
+81-3-5210-0653
Slovakia
+420 2 510 91 711