Dutch pension funds have invested 2.5 billion euros in Russia

The banner read “so take a cold shower, turn off the gas taps”. Photo: DutchNews.nl

Dutch pension funds have invested at least 2.5 billion euros in Russian companies and government bonds, the Nu.nl news site reported on Tuesday.

The 10 largest funds have investments in companies such as Gazprom, Lukoil and Rosneftas as well as banks Sberbank, Credit Bank of Moscow and VTB – all of which will be affected by EU and US sanctions, NU.nl said.

Nevertheless, most funds have fairly limited exposure and are currently considering what to do with their Russian investments.

The ABP civil service pension fund, one of the largest funds in the world with 540 billion euros in assets, has about 1 billion euros in Russia, after deciding last year to abandon investments in gas and oil.

The PFZW health fund has 1.2 billion euros in Russia, including 700 million euros in government bonds. A spokesperson told Nu.nl that the fund is closely monitoring developments in Ukraine and will decide what to do shortly.

Of all the large funds, the retail sector fund Pensioenfonds Detailhandel has the most exposure to Russia, with 0.7% of its investments in corporate bonds and shares. A spokesperson told Nu.nl that the board would decide on Thursday how to handle the situation.

Construction sector fund BpfBouw has 58 million euros in Russia, having sold around 75% of its investments in the past four to five months due to concerns over Putin’s behavior, Nu.nl said. .

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