NETHERLANDS - Pensioenfonds Zorg en Welzijn (PZFW) reported a decline in its funding level from 92% at the end the fourth quarter of 2008 to 89% at the end of the first quarter of 2009, data from its latest quarterly report reveal.
During the first trimester of 2009, the scheme suffered a 4.5% loss on its investments, with assets under management declining to €68.3bn. The fund said the market recovery in the final weeks of...
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