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ABP clocks –9.8% return in Q1 2020, citing COVID-19
Investors - APRIL 23, 2020

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ABP clocks –9.8% return in Q1 2020, citing COVID-19

by Kali Persall

Dutch pension fund Stichting Pensioenfonds ABP has recorded a return of –9.8 percent in the first quarter of 2020, equivalent to €45.4 billion ($49 billion), caused by the novel coronavirus disease, COVID-19.

As a result, ABP's available assets fell from €466 billion ($505 billion) at the end of 2019 to €420 billion ($455 billion) at the end of March, an April 21 statement reveals.

ABP specified that its real estate and alternative investments yielded a “slightly negative return.” The real estate portfolio alone showed a negative return of –14.2 percent, equivalent to €6.7 billion ($7 billion).

In addition, the value of the pensions that ABP will have to pay out rose from €476 billion ($516 billion) at the end of 2019 to €512 billion ($555 billion) at the end of March.

“Our world has been turned upside down in the first months of 2020,” said Corien Wortmann-Kool, chairman

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