NETHERLANDS - Dutch pension funds held €15.3bn (US$22.2bn) in direct real estate investments as of the third quarter 2009, new figures by De Nederlandsche Bank (DNB), the Dutch central bank, showed.
The portfolios are nearly entirely invested in the Netherlands, with a mere 1.5% invested overseas, primarily the US.
Pension funds allocate about 54% of their real estate portfolios to residential property, versus 46% in commercial property. This represents a shift from 2006, when residential property accounted for 60% of the schemes' total real estate portfolio.
The real estate figures were posted on the DNB's website as part of its monthly featured statistic.
The DNB, which serves as the country's pension watchdog, last month criticised Dutch pension funds for taking on too much risk. In its quarterly bulletin released in December, the DNB said it planned to improve the risk management function at local pension funds. (Global Pensions; December 17, 2009)
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