Pension funds; investments before and after consolidation 2008-2016

Pension funds; investments before and after consolidation 2008-2016

Investments Periods Investments after consolidation (mld euro) Investments after consolidation,relative (%) Investments before consolidation (mld euro) Investm. before consolidation, relative (%)
Total investments 2008 695.1 100.0 695.1 100.0
Total investments 2009 729.5 100.0 729.5 100.0
Total investments 2010 777.4 100.0 777.4 100.0
Total investments 2011 848.1 100.0 848.1 100.0
Total investments 2012 984.5 100.0 984.5 100.0
Total investments 2013 1,000.6 100.0 1,000.6 100.0
Total investments 2014 1,221.4 100.0 1,221.4 100.0
Total investments 2015 1,239.5 100.0 1,239.5 100.0
Total investments 2016* 1,356.4 100.0 1,356.4 100.0
Direct property 2008 19.1 2.7 16.4 2.4
Direct property 2009 18.9 2.6 15.8 2.2
Direct property 2010 19.5 2.5 9.5 1.2
Direct property 2011 24.5 2.9 9.3 1.1
Direct property 2012 24.8 2.5 8.8 0.9
Direct property 2013 24.1 2.4 8.5 0.9
Direct property 2014 22.4 1.8 7.7 0.6
Direct property 2015 22.9 1.8 7.5 0.6
Direct property 2016* 25.1 1.9 8.0 0.6
Other equity and investment fund shares 2008 271.5 39.1 319.1 45.9
Other equity and investment fund shares 2009 317.9 43.6 482.0 66.1
Other equity and investment fund shares 2010 364.6 46.9 527.7 67.9
Other equity and investment fund shares 2011 369.3 43.5 552.4 65.1
Other equity and investment fund shares 2012 417.7 42.4 641.5 65.2
Other equity and investment fund shares 2013 452.3 45.2 688.9 68.9
Other equity and investment fund shares 2014 548.8 44.9 805.0 65.9
Other equity and investment fund shares 2015 562.0 45.3 836.8 67.5
Other equity and investment fund shares 2016* 635.3 46.8 928.9 68.5
Debt securities 2008 290.6 41.8 251.0 36.1
Debt securities 2009 292.2 40.1 175.7 24.1
Debt securities 2010 294.7 37.9 176.4 22.7
Debt securities 2011 334.2 39.4 200.5 23.6
Debt securities 2012 395.1 40.1 234.4 23.8
Debt securities 2013 402.4 40.2 242.2 24.2
Debt securities 2014 485.8 39.8 303.0 24.8
Debt securities 2015 520.7 42.0 318.3 25.7
Debt securities 2016* 552.4 40.7 340.0 25.1
Financial derivatives 2008 38.4 5.5 35.8 5.1
Financial derivatives 2009 9.5 1.3 8.1 1.1
Financial derivatives 2010 15.0 1.9 11.1 1.4
Financial derivatives 2011 47.4 5.6 44.4 5.2
Financial derivatives 2012 57.7 5.9 53.6 5.4
Financial derivatives 2013 25.8 2.6 24.1 2.4
Financial derivatives 2014 63.4 5.2 61.7 5.0
Financial derivatives 2015 42.4 3.4 40.6 3.3
Financial derivatives 2016* 43.3 3.2 42.0 3.1
Long-term loans 2008 24.4 3.5 24.2 3.5
Long-term loans 2009 22.2 3.0 21.5 2.9
Long-term loans 2010 22.8 2.9 20.7 2.7
Long-term loans 2011 20.5 2.4 18.1 2.1
Long-term loans 2012 27.5 2.8 17.6 1.8
Long-term loans 2013 26.7 2.7 15.7 1.6
Long-term loans 2014 29.5 2.4 15.5 1.3
Long-term loans 2015 34.2 2.8 15.5 1.2
Long-term loans 2016* 40.7 3.0 16.0 1.2
Other investments 2008 51.1 7.4 48.7 7.0
Other investments 2009 68.8 9.4 26.5 3.6
Other investments 2010 61.0 7.8 32.1 4.1
Other investments 2011 52.1 6.1 23.5 2.8
Other investments 2012 61.9 6.3 28.7 2.9
Other investments 2013 69.3 6.9 21.2 2.1
Other investments 2014 71.6 5.9 28.5 2.3
Other investments 2015 57.3 4.6 20.9 1.7
Other investments 2016* 59.6 4.4 21.5 1.6
Source: CBS.
Explanation of symbols

Dataset is not available.


This table shows the investments of pension funds before and after consolidation of the shares in Dutch investment funds. From 2009 on there is a spectacular growth because of the transformation by various large pension funds of their own investments into shares in investment funds that have been established by the pension funds themselves. As a consequence pension funds invest a far greater part in shares and a far minor part in debt securities such as bonds. Consolidating the shares in Dutch investment funds gives a more balanced picture of the composition of the investments of pension funds.

Data available yearly figures from 2008 to 2016.

Status of the figures:
Figures up to 2015 are definitive, figures for 2016 are provisional.
Because this table is discontinued, figures will not be updated anymore.

Changes as of 7 September 2018:
None, this table is discontinued.

When will new figures be published?
Not applicable anymore.
The strategic alliance between Statistics Netherlands (CBS) and the Dutch Central Bank (DNB) has led to a reallocation of tasks between the two institutions. Institutional investors is now part of the dominion of DNB. Publication of tables on institutional investors by the CBS is discontinued. DNB provides the OECD with figures for its statistic Institutional investors. See paragraph 3 for links to the websites of DNB and OECD.

Description topics

Investments after consolidation
The investments after consolidation refer to total investments in which the shares in Dutch investment funds have been replaced by the investments of these funds. The availability of sources limits the possibility for figures for pension funds only.
Investments after consolidation,relative
The investments after consolidation refer to total investments in which the shares in Dutch investment funds have been replaced by the investments of these funds. The availability of sources limits the possibility for figures for pension funds only.
Investments before consolidation
The investments before consolidation refer to the total investments in accordance with the guidelines and concepts of the new European System of Accounts 2010 (ESA 2010). This includes shares in Dutch investment funds.
Investm. before consolidation, relative
Investments before consolidation, relative.
The investments before consolidation refer to the total investments in accordance with the guidelines and concepts of the new European System of Accounts 2010 (ESA 2010). This includes shares in Dutch investment funds.