Stichting Pensioenfonds AZL

Stichting Pensioenfonds AZL

Founded in 1967 in Heerlen, Stichting Pensioenfonds AZL spent five decades as a standalone Dutch corporate pension fund before merging into De Nationale Algemeen Pensioenfonds (APF) in 2017. Margreet Teunissen leads the umbrella board, while Annelies Boekel serves as secretary specifically for the AZL/Unisys collectivity circle — a sub-ring that bundles the legacy AZL liabilities with those of Unisys Netherlands under the same APF license. De Nationale APF manages the consolidated assets through NN Group, the administrator and founding partner of the umbrella. The portfolio includes global commodity exposures, reinsurance-linked policies sourced in the Netherlands, and real estate holdings benchmarked for sustainability through GRESB membership. The fund is a signatory to the UN Principles for Responsible Investment via the APF entity and adheres to the Dutch IMVB pension covenant on socially responsible investment. Altss estimates total combined assets across the AZL/Unisys circle at under $500M, positioning the vehicle within the universe of smaller European APFs that rely on centralized administration to alleviate governance burdens. No dedicated investment team is publicly listed; NN Group's institutional platform provides the operational backbone. Structurally, the APF wrapper is the differentiator. Rather than each small Dutch corporate pension operating its own board, asset management, and compliance function, De Nationale APF pools multiple pension circles — including AZL/Unisys — under one license, one administrator, and one regulatory filing, a design aimed at the specific cost challenge facing sub-$1B European pension pools.