Dutch pension fund assets grew about 23% to €649 billion ($893 billion) in the year ended Dec. 31, but still are about €20 billion short of the year-end 2007 level, according to data published today by the Dutch Central Bank.
In the fourth quarter, Dutch pension investment portfolios benefited from an increase of €18 billion from “gains on shares and other equity” alone, according to a news release from the bank. In comparison, the aggregate value of Dutch pension portfolios fell about €86 billion in the fourth quarter of 2008, also largely because of equity market movements.
The average asset allocation remained constant compared with a year ago, with about 31% invested in equity and 42% in fixed income, and the rest in other categories. However, within the overall portfolio, Dutch pension funds are shifting more assets overseas by about seven percentage points, on average, according to the bank. For example, fund officials are adding exposure to eurozone debt, particularly government bonds from France and Germany.
