EUROPE – Pension fund assets in Europe have grown by 500 million euros in the past year, according to the Investment & Pensions Europe’s new listing of the top 1,000 European pension funds.

That’s an average increase per pension fund of 500,000 euros.

IPE’s annual survey of Europe’s leading pension funds shows that the top 1,000 funds now account for 2.35 trillion euros in assets, compared to the 2.3 billion euros reported in last year. In 2001 the assets were put at 2.1 trillion euros.

Stichting Pensioenfonds ABP, the Dutch pension fund for civil servants, continues to head the list. The other leading Dutch fund, the healthcare scheme PGGM, remains fourth. Norway’s Petroleum Fund remains second.

The Swedish national funds AP1, AP2, AP3, AP4, AP6 and AP7 occupy third position.

Two new entrants to the top 10 come from Germany. They are Hamburg-based Volksfuersorge Pensionsfonds, part of Generali, at seven and the Bavarian doctors’ fund Bayerische Arzteversorgung at 10.

Dropping out of the top 10 are Switzerland’s Pensionkasse des Bundes – down to 12th spot and Norway’s Folketrygfondet, which drops to 11.

The survey is divided into the top 750 continental funds, including Iceland and Ireland, and the top 250 UK funds. The top UK fund is the 48.8 billion-euro BT Pension Scheme. The survey is a supplement to the September issue of Investment & Pensions Europe.