Civil service pension fund ABP sees the beginnings of recovery in the financial markets, chairman Elco Brinkman said at the presentation of the fund’s annual report on Tuesday.

‘The markets are recovering,’ Brinkman was reported as saying by news agency ANP. ABP, one of the biggest pension funds in the world, booked a 3.8% return on its investments in 2007.
The NRC noted that ABP invested more than €1bn in shares in ING and Philips last year. Philips is now the fund’s third-largest shareholding behind ExxonMobil and Shell.