Dutch pension funds sold off €26bn worth of shares and bonds in the last quarter of 2008 because of the ‘hectic circumstances’ on financial markets, reports the central bank.

This marks a turnaround compared to the first nine months of the year when €37bn was spent on buying on the stock market, said the central bank in a report on Thursday.
‘With a view to spreading their risk and to realising long-term returns on investments, pension funds aim for a strategic mix of equities and bonds in their securities portfolios,’ the statement said.