BELGIUM - The Belgian Association of Pension Institutions (BAPI) has reported a weighted average return of 3.2% for the first half of 2010, compared with losses for the Eurostoxx and MSCI World indices of 10.9 % and 13.2%, respectively.
Asset allocation, as at the end of June, was 37% equities, 51% bonds, 4% real estate, 5% cash and 3% alternative investments.
Equity and bond weightings increased slightly compared with the previous survey (for the year to end 2009), while the relative weighting of indirect real estate and cash fell slightly.
BAPI funds reached sound funding levels due to strong investment returns and higher contributions from sponsoring employers.
The average short-term funding ratio - the ratio between pension fund assets and minimum accrued pension rights, plus the required solvency margin - was 133%, according to the Banking, Finance and Insurance Commission.