The combined investments of Dutch pension funds in the euro-zone have increased by €12bn to €232bn during the third quarter of 2012, according to figures from supervisor De Nederlandsche Bank (DNB). The DNB said the largest increase in schemes› euro-zone exposure was seen in France and, to a lesser extent, Germany. Investments in the former increased by €6.5bn to €76bn, while holdings in the latter increased by almost €2bn to €91bn. The Dutch regulator said pension funds for the most part increased bond portfolios, but they also divested some holdings to take profits.