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. .
Thank you for your donation to DutchNews.nl
The DutchNews.nl team would like to thank all the generous readers who have donated over the past few weeks. Your financial support has helped us extend our coverage of the coronavirus crisis into evenings and weekends and ensure you are kept up to date with the latest developments.
DutchNews.nl has been free for 14 years, but without the financial support of our readers, we would not be able to provide you with fair and accurate information on all things Dutch. Your contributions make this possible.
If you haven’t donated yet, but would like to,
you can do it via Ideal, credit card or Paypal.