07:08 AM EDT, 09/03/2025 (MT Newswires) -- BlackRock ( BLK ) has been cut off from Dutch pension fund PFZW over issues of sustainability, Reuters reported Wednesday, citing the pension fund.

The pension said it has cut its holdings to 800 companies from 3,500 in Q2.

"This portfolio is smaller, but offers good diversification and a balance of return, risk, and sustainability for each investment," the pension fund added.

The overhaul led to the selection of seven wealth managers, including Robeco, Schroders, UBS (UBS), and Lazard (LAZ), but not BlackRock ( BLK ), Reuters reported.

PFZW holds around around 250 billion euros ($291.17 billion) in assets, Reuters reported.

BlackRock ( BLK ) did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)