08:28 AM EDT, 09/03/2025 (MT Newswires) -- (Updates with BlackRock's ( BLK ) response in the sixth paragraph.)

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

BlackRock ( BLK ) said its Dutch and other clients continued to invest through it to meet sustainable investing goals, "entrusting us to manage over $1 trillion in sustainable and transition assets on their behalf."

(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.)