Dutch pension funds lost billions of euros on their investments in the second quarter of 2015 because of the difficult conditions on the stock exchange, news agency ANP reports. A combination of bond market swings, uncertainty over interest rates and fears of a Grexit hit the pension funds particularly hard, ANP says.
Civil service pension fund ABP, which is one of the biggest in the world, lost more than €16bn, or 4.3%, while healthcare fund PFZW lost 6.6%, or €11.5bn. Engineering funds PMT and PME saw their investment porfolios shrink by 8.3% and 7.2% respectively.
