The Dutch family doctors’ pension fund made €140,000 last year selling some of its shares in British American Tobacco, the Financieele Dagblad reports on Tuesday.
The Stichting Pensioenfonds voor Huisartsen invests millions of euros in tobacco companies and has benefited from the rise in share prices. BAT shares, for example, have risen 20% over the past year, the paper says.
The pension fund sold 3,680 shares in the first quarter of this year, netting it the equivalent of around €140,000. No-one responded to the paper’s phone calls for comment.
In total, Dutch pension funds and insurance companies have at least €2.3bn invested in tobacco firms, the FD says.
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