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."
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