NETHERLANDS/UK - PGGM CIO Roderick Munsters says UK pension funds are happily invested in their own domestic markets and need not worry too much about gaining international exposure.
PGGM is the second largest pension fund in Europe, worth EUR52bn.
Munsters said that over the last decade Dutch pension funds had increased their holdings of international equities dramatically, from around 10% to around 70%, adding: The Netherlands is not our home market. The Eurozone is our home market.
But, he told delegates at the UK's National Association of Pension Funds' investment conference in Edinburgh that UK funds investing in the UK market had not caused underperformance, and from the risk perspective, apart from the mid-1990s, there has been no downside. However, Munsters did say that UK funds should look more at investing in alternative asset classes.
He told the conference: In the Netherlands we see the UK as a country of guidance in pensions.
By Luke Clancy
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.