Stichting Pensioenfonds ABP, Heerlen, Netherlands, will divest companies that are involved in the manufacture of cluster bombs, according to the pension funds annual report, released today.
The move was a response to increasing public pressure that began in March, when a Dutch TV program reported that ABP and other pension funds were investing in the weapons industry. Since then, ABP officials announced they had divested holdings in companies that manufacture land mines. Spokesman Thijs Steger could not be reached by press time for information on specific stocks.
Financial results from the annual report indicate the pension fund returned 9.5% in 2006 with assets totaling €208.9 billion ($282 billion). The fund returned 12.8% for 2005. Equities returned 13.5% last year, according to the annual report. Infrastructure fared the best out of the alternative investments, with a return of 41.3%, while commodities fared among the worst, returning -18.5%.