q The total number covered by the ABP scheme was 2.2m at the end of 1997. This was made up of 888,000 members, 35,000 in early retirement, 66,000 'on benefit awaiting redeployment' and 605,000 deferred or dormant members. The total number of pensioners is 589,000.
q The overall yield provided by the fund in 1997 was 11.9%, compared with 11.8% the previous year. The fixed interest yield was 8.0% (8.5%), equities 37.1% (28.5%) and real estate 17.1% (15.8%).
q The total assets of the fund at end-1997 came to Dfl230bn ($115bn), an increase of 10.2% on the previous year's Dfl209bn. This breaks down to fixed interest assets of Dfl170bn(Dfl163bn) and real assets of Dfl61bn (Dfl48bn), and net current assets of -Dfl710m(-Dfl1,787m). The total liabilities came to Dfl206bn (Dfl193bn). The funding ratio (excluding supplementary invalidity pension) came to 112% (108%).
q The total market value of ABP's assets is projected to grow from Dfl272bn at the end of 1997 to Dfl286bn at end-1998, Dfl301bn in 1999 and Dfl318bn in 2000. The proportion invested outside the Netherlands is expected to move from around 16% to 27%. For the equity portfolio, the Dutch portion is likely to decrease from around 40% currently to around a third by 2000, with the US and Asian exposures increasing slightly to over 20% and Europe ex Netherlands making up less than 20%.
q The asset mix is scheduled to move from the 1997 position of 71% fixed interest, 21% equities and 8% real estate to 50% fixed interest, 40% equity and 10% real estate, with the flexibility to vary the equity and real estate portion.
q The total number employed by ABP is 2,566. This is split between 2,426 administration and 140 investment, but the number of investment staff will increase to 200 in the next few years. The numbers engaged in fixed interest are around 50, equity management around 30 and structured investments around 15.