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Our investments

In order to achieve the best possible returns, we spread investments.
Pensioenfonds PGB aims to balance the best possible returns with an acceptable degree of risk. To achieve this aim, we invest in a range of investment categories.




Investments with a low risk
Notably, we make these investments in the Netherlands and Germany, but also in other European countries. They are primarily intended to manage the interest rate risk. The breakdown of this category (as a % of the total) is shown below:

Q3 2021   ​Division​Return
Government bonds (Euro)16%
​Corporate bonds (Euro)13%-0.5%
​Mortgages  5%-1.8% 
Total  ​34%-7.3%


Investments with a higher risk
We make these investments throughout the world. They are intended to provide excess return. In this way, we try to ensure that, as far as possible, our participants’ pensions remain inflation proof. The breakdown of this category (as a % of the total) is shown below:

Q3 2021 ​DivisionReturn 
Alternative real assets 5%
Alternative fixed-income securites10% 2.4%
Total (incl. currency hedging)66%10.8%

- Top 50 Investments in equities
- Top 50 investments in bonds
 - Overview of our external asset managers