NETHERLANDS/BELGIUM - PGGM, the e45bn Dutch pension scheme, is optimistic about its second quarter results following a disappointing start to the year. The Zeist-based scheme for health and social workers said that its results, which will be released on Thursday, will exceed its return for Q1 when it posted -1.9%. The figure was blamed on lower equity markets, which helped to drag down the 5-year return to 2.3%, compared with the 5.2% in the previous quarter.
The new results are expected to be buoyed by the post-Iraq war pick-up in most major stock markets, a factor which saw the e142bn ABP, Europe’s biggest pension fund, return +6.9% in Q2. The figures...
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