NETHERLANDS - The €209bn (US$280bn) ABP fund has refused to reveal the extent of its losses in failed banking and insurance giant Fortis, following a misplaced bet which saw it up its stake just weeks before the firm's shares plunged in value.
Speaking to Global Pensions, a spokesman at ABP confirmed the pension fund had invested €500m in Fortis in June, upping its interest in the company to 2.5%. Since that investment, the value of the ...
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