Tjibbe Hoekstra

1 week ago | ipe.com | Tjibbe Hoekstra |Maarten van Wijk

Trump trade war puts Dutch funding ratios under pressure By Tjibbe Hoekstra and Maarten van Wijk2025-04-10T10:00:00 The short-term shock is extra relevant for Dutch funds, as they want to make the transition to a new defined contribution arrangement with comfortable funding ratios

2 weeks ago | realassets.ipe.com | Tjibbe Hoekstra

Amvest has received a €250m capital commitment for its living and care property fund from Gasunie, Woningcorporaties and a third unnamed Dutch pension fund. The real estate investor owned by healthcare sector scheme PFZW and asset manager ASR, said the capital raised for the Living & Care Fund, enables the fund to grow its healthcare real estate portfolio and develop new projects for individuals requiring care.

2 weeks ago | ipe.com | Tjibbe Hoekstra

APG Asset Management, the €616bn Dutch pension asset manager, generated “below standard” returns for its clients last year. “We will have to do better,” said the firm’s chief executive officer, Ronald Wuijster. APG made a return of 8.9% in 2024, slightly lower than the previous year’s return of 9.4%. According to the firm’s annual report, the total excess return was -152bps, most of which was due to active investment decisions.

3 weeks ago | ipe.com | Tjibbe Hoekstra

Dutch pension funds should consider increasing their dollar hedging, recommends Sprenkels, a Dutch pension consultancy. The reasons for this are twofold: on the one hand, there is a need to protect funding ratios, on the other, there’s the possible impact of Donald Trump’s administration policies. “The dollar’s safe-haven status must now be called into question. There is more uncertainty than ever about the role of the US as a reliable partner now,” notes Sprenkels’ Pim Zomerdijk.

3 weeks ago | ipe.com | Tjibbe Hoekstra

Dutch pension funds have started to protect their equity portfolios against downside risk ahead of converting their defined benefit (DB) accruals to defined contribution (DC) capitals. A handful of funds have already reduced the downside risk to their equity holdings either by selling stocks or by buying put options. Many more, and especially those that are scheduled to move to DC by 1 January 2026, are plotting their moves.