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IPE special report May 2018

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Dutch pensions up share in local funds

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  • Dutch pensions up share in local funds

NETHERLANDS - Dutch pension funds increased their share in Dutch investment funds during the second quarter of this year to two-thirds of the market, which in turn amounted to €241bn, according to pensions regulator De Nederlandsche Bank.

The asset managers of the two largest pension funds- the €180bn civil service ABP and the €75bn healthcare scheme PGGM - were the main contributors to this two-thirds holding. They placed combined assets of €71bn in a new type of fund, the fund for joint account (FGR) the DNB indicated in its latest update.

ABP placed €60bn of assets in FGRs - which are tax-transparent vehicles for international asset pooling - as part of its new investment structure with APG , said a spokesman for the pension fund

According to the spokesman, the pension fund is planning to complete the transfer of its remaining assets to FJAs later this year.

DNB also said that the increased value of investments to €9.4bn and net deposits of €1.7bn led to a 7% increase in the value of investment funds.

The largest contribution was made by equity investments in the second quarter, as they returned 13.6% including dividend payments, according to DNB.

The watchdog also said fixed income portfolios, including those made up of mixed assets, increased by almost 3% "thanks mainly to considerably improved markets for corporate bonds".

DNB said fixed income funds yielded 3.7%, and assets increased by 2% thanks to deposits made, following net withdrawals during the previous nine quarters.

If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email julie.henderson@ipe.com

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