Bond wants clarification on Russian investments ABP
The board of pension fund ABP must explain their Russian investments. The AOb wants to know how big the stake is in Russian stocks and bonds and whether the board wants to change that now that Russia has invaded Ukraine.
Arie de Graaf, the leader of the pensioners list ACOP/FNV faction -where the AOb part of is- recently sent a letter with questions to the ABP board on behalf of the group. De Graaf wants more information about the investment policy now that Russia has invaded Ukraine. The AOb sits on the Accountability Body of the ABP pension fund, the fund to which all teaching staff is affiliated. The Accountability Council advises the board in advance about policy and checks afterwards whether the board has done the right thing.
Now the AOb know whether it is true that ABP invests 633 million euros in a Russian bank and whether this bank does not fall under the sanctions of the European Union. 'Is this a reason for the board to terminate this investment?' The bond also wants to know whether it invests in Russian government bonds. If that is the case, ABP must immediately stop doing so. 'In order to prevent ABP from co-financing the Russian aggression against Ukraine.'
If ABP invests in Russian government bonds, the pension fund must immediately stop doing so
The amount of 633 million euros is a fraction of ABP's total investment budget. The entire portfolio consists of about 500 billion euros. Getting rid of investments will not be so easy with the sanctions.