PGGM 'out of recovery'

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NETHERLANDS - Despite generating an annual return of 5.4% less than in 2005, the Dutch fund PGGM has been pronounced ‘out of recovery' by the Dutch Central Bank (DNB).

The 11% return on the total investment portfolio in 2006 was due to high returns in almost all asset classes. Real estate performed best at 29.3% but commodities reflected the falling oil price pro...

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