Sunday 26 March 2023

Pension asset manager APG to boost spending on infrastructure: FD

Asset manager APG, which runs the giant ABP pension fund and construction sector fund bfpBouw, is planning to increase its investment in infrastructure by some 50% over the ‘coming years’, the Financieele Dagblad reports on Tuesday.

The increase will take APG’s investment in building projects up to some €9bn, the FD quotes portfolio manager Jan-Willem Ruisbroek as saying.

‘Our clients want to invest up to 3% of their assets in this investment category. At the moment it is around 2%,’ he said.

This may seem like a small shift, but in absolute terms it means billions of euros extra to be spent on toll roads, wind farms, bridges and utilities, the FD said.

Nevertheless, the Netherlands will not profit enormously from this change in strategy. APG has a minimum investment of €100m and this means Dutch projects will be too small or will not meet other demands, the FD said.

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