Dutch pension funds raise foreign equity holdings
NETHERLANDS – Dutch pension funds have increased their holdings in foreign equities by 22 billion euros over the first half of 2003.
According to the Dutch Statistics Office, Dutch insurance companies and pension funds increased their holdings in equities by 30 billion euros in the first half – 24 billion euros of which were holdings in foreign equities. Dutch pension funds increased their holdings in foreign equities by 22 billion euros. “By the end of the second quarter of 2003, pension funds invested 83% of their shares abroad, and insurance companies 31%,” says the Statistics Office.
Total holdings in equities by Dutch pension funds and insurance companies totalled 279 billion euros by the end of the first half. In the second quarter pension funds bought almost 5.7 billion euros of equities, while insurance companies sold over 300 million euros.
According to the data, Dutch pension funds made a profit of 18 billion euros, and insurance companies more than five billion euros on their equity portfolios n the second quarter of this year. This cancels out the 15 billion euro loss that pension funds made in the first quarter, and equates to a 2.1% increase over the first half of the year.
At the end of the first half of 2003, the Dutch pension funds market was valued at 455 billion euros, say the data.