NETHERLANDS - Dutch performance measurer Stichting Performance has launched a research project into pension fund governance to help pension schemes realise the economic advantages of good pension fund governance.
Jaap Koelewijn, lecturer in finance at Dutch business university Neyenrode and head of the project, told IPE today the first phase of the project will start within the next few weeks, to evaluate what has changed in the last few years in terms of pension fund governance.
"We want to look at what pension funds have done with the various developments in pension fund governance and to see to which implementation this had led," he said.
Earlier this year, the Dutch government implemented new pension fund governance law, which means pension funds now need to adhere to the 'so'called' Principles for good Pension Fund Governance.
The organisation expects to have preliminary results of this research by the autumn.
Koelwijn added in the second phase of the project, the organisation will look at the effect of the various governance systems.
"One hopes that through better governance the fund's policy will improve, that customers will be more satisfied and the fund will have a better performance," he said.
The organisation claims the research will go beyond the realms of helping pension schemes implementing the new legislation: "Goal of the research is to serve as a (preferably measurable) handle to help pension funds realise the economic advantages."
The project is sponsored by Dutch insurer Achmea/Interpolis and asset manager Mn Services, though more sponsors are welcome, added Koelewijn.
The organisation is the latest to tap into the market which has opened up since the new Pension Fund Governance (PFG) law and self-evaluation requirements for pension fund boards in the Netherlands.
Late last year, Dutch pension fund consultancy Montae said it was planning to launch a governance centre for pension funds. (See earlier IPE story: Montae plans governance centre)
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