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New study flags risk in Dutch pensions’ concentrated stock strategy

Under strict ESG guidelines and pressure to closely engage with their investee companies, Dutch pension funds have developed an affinity for concentrated equity allocations with some owning as few as 65 stocks in their entire portfolio. But the Erasmus University flagged the diversification risk and higher volatility the strategy introduces.
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Holland’s hybrid: defined ambition

Jan Tamerus, actuary director at PGGM, was instrumental in developing the new Dutch pension defined-ambition structure. Back in 2006, he was involved in looking at the sustainability of the defined benefit system and in concluding it was not in fact sustainable, the idea of defined ambition evolved. One of the key reasons for not going […]