Quarterly report Q4 2014

ABP invests well, but experiences decline in funding ratio


  • Funding ratio 101.1%
  • Available assets 344 billion euros
  • Return +2.8% (+14.5% over 2014)
  • New method of calculating funding ratio effective from 2015

Heerlen, January 30, 2015. ABP’s funding ratio declined by 2.0 percentage points in the fourth quarter of 2014 to reach 101.1% at the end of the fourth quarter. As a result of the positive returns (+2.8%) achieved by ABP on its investments, available assets rose by 9.4 billion euros this quarter. ABP’s total return over the four quarters of 2014 amounted to 43.4 billion euros (+14.5%).

Cees de Veer, Vice Chairman: 'Just as it did in the previous quarters of 2014, ABP achieved a good investment result in the fourth quarter of 2014. Assets increased by over 9 billion euros to 344 billion euros this quarter. Over the entire year we added a record amount of over 43 billion euros to the pension pot. The funding ratio nevertheless declined. This is because the interest rate that we must use to calculate liabilities once again declined. While we currently do not need to take any measures that would affect participants, the projected trend for the funding ratio in 2015 causes concern.'

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