The Dutch pension funds SNS Reaal and Pensioenfonds UWV have published their funding updates for June, showing improvements in policy funding ratios alongside slight declines in current funding ratios.
SNS Reaal reported that its policy funding ratio rose from 133.3 per cent in May to 134.4 per cent in June.
The fund experienced an increase in the value of its investments in June, with the portfolio growing by 1.1 per cent.
However, due to a 0.07 percentage point decrease in the average interest rate set by De Nederlandsche Bank (DNB), SNS Reaal's liabilities increased. This led to a slight fall in the current funding ratio, by 0.4 percentage points from 139.7 per cent to 139.3 per cent.
Similarly, Pensioenfonds UWV also reported an improvement in its policy funding ratio, which increased from 124.5 per cent in May to 124.9 per cent in June.
However, like SNS Reaal, Pensioenfonds UWV experienced a slight decline in its current funding ratio, falling from 127.5 per cent in May to 127.1 per cent in June.
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