Europe’s two largest pension schemes, with a total of about $705 billion in assets, said they would adhere to existing allocations to equities as part of their long-term strategy, despite the sustained market turmoil.

Norway’s Government Pension Fund and APG, the asset manager of the Netherlands› largest pension scheme, which covers the Dutch civil service and construction industry, said they were concerned by the current financial market problems but had ruled out changes to their investment allocations.