NETHERLANDS - The €205bn (US$317bn) ABP fund has called on Fortis to alter its governance structure to make the organisation more efficient.
A spokesperson at ABP told Global Pensions: "We expect Fortis to come up with a proposal to improve its corporate governance." Fortis could not be contacted for comment.
Fortis Investments also today released its half-year results, which showed a net profit of €33m, or €66m if costs arising from the ABN AMRO Asset Management merger and other exceptions were deducted.
At the end of Q2, Fortis Investments had €209.2bn of assets under management (AUM), down from €215.4bn at the end of Q1, which the company put down to a combination of falling equities markets and net outflows.
Over the second quarter, Fortis Investments saw net outflows of €4bn, a result of the "global market turmoil" in May and June.
Richard Wohanka, CEO, Fortis Investments, said: "The company has withstood the 'perfect storm' of the markets in the first half of the year remarkably well. The merger proceeded rapidly and we are already working very successfully as one company.
"Despite all distractions, we have maintained the momentum of business as usual. As soon as the markets stabilise, I expect to see a return to the strong growth we have seen over the last five years."
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.