Pension fund ABP recovers in first half

Wednesday 15 July 2009

Civil service pension fund ABP has managed to increase its coverage ratio from 90% to 98% in the first six months of this year, the Financieele Dagblad reports on Wednesday.

This means the fund, which is one of the biggest in the world, can now meet 98% of its pension obligations. The central bank requires pension funds to have a ratio of at least 105%.

ABP had been hard hit by the credit crisis and in May announced an increase in premiums.

ABP's total invested assets had reached €180.5bn by the end of May, compared with €173bn at the end of December. Of that, 44.7% is in fixed value investments, 49% in shares and 6.3% in hedge funds and other innovations, including music rights.

© DutchNews.nl

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