NETHERLANDS - The 2005 investment results of Dutch corporate pension funds have been excellent, with returns of up to 25.3%, the Foundation of Company Pension Funds, or OPF, reported.

According to the OPF, which has 151 members with a combined assets under management of €114bn, the results have been positive for the third consecutive year.

Equities performed especially well, with returns of over 26%. Fixed interest yielded 6%. Real estate – the funds in particular showed good results - returned 14%.

“Because of the rise of the dollar, the decision to hedge has affected the results by some percentage points”, OPF said.

With returns of 25.2%, the pension fund of food producer Masterfoods – with assets under management of €806m - produced the best results in 2005. Protector, the €1.2bn scheme of Exxon Mobil, came second with returns of 21.5%.

The €14.5bn scheme of Philips and €9.6bn pension fund of ING reported results of 13.3% and 14.5% respectively.

Due to the bad years of 2001 and 2002, the returns during the past five years averaged between 0.5% negative and 7.3%. The pension scheme of Dutch daily Het Financieele Dagblad performed best, with average returns of 7.7%.

“Based on the 10-year results, the participating schemes have reasons for satisfaction”, OPF said. The returns during this period vary from 4.6% to 11.8%. The best returns were reported by the vicars’ pension fund.