NETHERLANDS - With returns of 30%, commodities were the best performing asset class of the Dutch pension for Metalworking and Mechanical Engineering, or PMT, during the second quarter, it said.

The industry-wide scheme reported “unexpected high returns on all asset classes”, which have led to cumulative returns of 8.1% in 2005. The performance of commodities was mainly due to oil price rises, it added.

According to the scheme, fixed income yielded 7.8%, due to lower interest rates in the second quarter. “The high interest and risk portfolios gained even more from a lower interest rate, and yielded approximately 15% during the first half year.”

The scheme’s assets under management rose by €1.4bn to €25.5bn. Its coverage ratio was 4 points up to 119%, based on the fixed accounting rate of 4%.

Meanwhile, Yarden Funeral Insurances has chosen MN Services as new administrator and fiduciary manager of its €630m of assets. MN will be actively managing €500m of Yarden’s assets as well.

And, GBF, the €7.6bn scheme for the printing industry, has reported a 7.7% return on investments.

In order to tackle the decline of the industry the scheme has started a two-year project to cut costs by 20%, it said.

GBF will not only intensify its activities for its 2,900 employer members, it will also target new customers. A first result was the €550m company pension fund of PCM Publishers joining GBF as of January 1, it added.