NETHERLANDS - The two large Dutch pension funds, ABP and PFZW, will in future disclose all of the investments they hold.

PGGM, the asset manager for the €88bn healthcare and social sector pension fund ‘Zorg en Welzijn' (PFZW), announced its step forward in transparency today while ABP, the €212bn civil service scheme, will follow next month, a spokesman indicated to IPE.

"As an innovative asset manager, we feel it is only right to be as open as possible about all our investments," Else Bos, head of PGGM Investments pointed out.

"We want to show that we invest the pension capital of PFZW carefully and responsibly, while, of course, respecting the interests of our business partners," she added.

The step forward in transparency follows its decision to publish its investments in listed equities and bonds last year.

PGGM's publication policy requires it to prepare annual summaries of its investment mandates, its listed and unlisted investments and all the direct and indirect asset managers it works with.

The year-end investment summaries will be published by the pension fund in April in its website.

PGGM is PFZW's pension administrator and asset manager since 1 January. PFZW has over two million employees, deferred members and pensioners.

"Our new disclosure policy will follow PGGM on main lines, but the details are still to be finalised," Michel Meijs, spokesman of ABP said.

ABP decided to fully disclose its equity investments and its hundred-largest investments last year.

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