NETHERLANDS - The ABP pension fund, with €208bn (US$305bn) of assets under management, has announced the appointment of Paul Frentrop as head of corporate governance.
The post, which Frentrop is due to start in January 2008, will see him taking an active role in the corporate governance of the ABP funds.
In a statement, the pension fund said: “ABP pursues an active corporate governance policy in order to make a positive contribution to its investment results.”
Frentrop was director of Dutch Corporate Governance Services, the first shareholder activist organisation for institutional investors in the Netherlands, a company he founded in 1997.
As Global Pensions has previously reported, ABP is to separate its functions in order to comply with the terms of the Pensions Act 2007.
The reformed body will comprise a separate administration agency of a holding company, supervisory board and executive board to oversee administration, asset management services and communication.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.