BELGIUM – The €950m Amonis pension fund for dentists, doctors and pharmacists in Belgium has reported an 18.74% net investment return for 2005.
The diversified investment portfolio – involving 10 asset classes – saw greatest returns from large caps, emerging markets and real estate.
The 54% return on Japan equities and exposure to small cap equity, were also “substantial” boosts for the fund, according to chief financial officer Tom Mergaerts.
The scheme’s gross return was 20.1%, and the active currency overlay programme decreased return by 136 basis points, according to the fund.
The investment portfolio has 27.5% in government bonds euro, 15% in corporate bonds and 10% in global large cap value equity, emerging markets equity and global large cap growth equity.
It has 9% in real estate equity, 4% in Europe small cap equity and mid cap Europe growth equity. There are also 3.5% allocations in Japan mid cap growth equity, US-Canada mid cap equity and cash.
“On an inception to date basis (31 December 1994 – 31 December 2005), the fund reaches a net annualized return including currency overlay of 11.11% compared to the gross policy benchmark return of 10.18%,” said Mergaerts.