KLM’s three schemes return 10.7%-12.3%

NETHERLANDS – Airline KLM’s three pension funds – worth a combined €9.2bn - returned between 10.7% and 12.3% in 2004.

The €3.7bn general scheme had a yield on investments of 12.3% while the €4.7bn pilots’ scheme, Pensioenfonds Vliegend Personeel KLM, gained 10.7%.

The €855m cabin-crew plan - Pensioenfonds KLM-Cabinepersoneel – returned 12.0%.

The difference in yields between the schemes is based on the fact that all have different investment portfolios.

The highest return was made by the real-estate portfolio, where the pilot’s pension fund reported a 21% yield, the cabin personnel pension fund 20.2% and general pension fund KLM 19.5%.

Equities reported between 14.1% and 10.5%, while bonds showed an average of 8.8%. As currency risks have been hedged, currency exchange changes had no effects on investment yields. KLM pension funds stated that there will be a full indexation of pensions as per January 1 2005.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2511

    Asset class: Commodities.
    Asset region: Global.
    Size: $10m.
    Closing date: 2019-02-25.

Begin Your Search Here