Shell Pension Netherlands has confirmed that it has not made any changes to its investment portfolio in response to the recent market volatility, emphasising that its investment policy remains focused on the long term.

US President Donald Trump recently announced that he would be introducing 10 per cent tariffs on imports from most countries to the US, with higher "reciprocal" tariffs for the countries branded the "worst offenders", prompting significant market turbulence.

In its latest update, Shell Pension acknowledged that the financial markets have been "very volatile" in recent days due to the new import tariff policy in the US.

However, it emphasised that Shell's pension funds are long-term investors, confirming that whilst it is keeping a "close eye" on daily changes, its investment policy remains focused on the long term.

"In this, we ensure that the investment portfolios are diversified and robust and we take short-term fluctuations into account," the group stated.

"The current market movements are not favourable, but are no reason for Shell Pension to react hastily and adjust the investment portfolio."

However, Shell Pension confirmed that it is monitoring the situation with extra attention and higher frequency, and all funds have plans ready in case the market movements would lead to a larger or long-term impact.

This is also in line with the messaging seen from European pension providers more broadly, as whilst some had reduced risk in anticipation of the market volatility Trump's presidency could bring, many pension providers have been looking to reassure savers that their pensions are safe, highlighting the long-term nature of pensions.

Shell Pension Netherlands covers both the Shell Pension Fund Foundation (SSPF), which provides the pension scheme for (former) employees who entered service before 1 July 2013 and have the Netherlands as their 'base country', and Shell Nederland Pensioenfonds Stichting, which is responsible for two of the premium schemes offered to Shell employees with the Netherlands as 'base country'.

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