Asset mix and investment return

We distribute our total assets into two asset classes. The Deversified growth portfolio is designed to achieve additional return, with slightly more risk. With the Stable return portfolio we take a lot less risk. The purpose of this combination is to make the chance of indexation as large as possible. And to minimize the risk of non-indexation or even reduction of your pension.

Below you find the composition of our asset mix at the end of last year. In addition, you can also see what investment returns we achieved by category in the last four quarters and what it adds up to at he end of the year.

The net return is listed below. This is the return including the result of hedging interest rate, inflation and currency risks.

Asset mix and investment return


  Distribution end 2023 Return on investment 2023*   Q4 2023 Q3 2023 Q2 2023 Q1 2023
Diversified growth
shares, high yield bonds, listed real estate 
59% 12.1%   5.6% -0.5% 3.4% 3.2%
Stable return
government and corporate bonds, Dutch mortgages
41% 4.6%   5.6% -2.0% 0.2% 0.9%
Total, derivatives excluded 100% 9.0%   5.6% -1.6% 2.1% 2.3%
Net return on investment, derivatives included 100% 8.1%   7.1% -2.7% 1.9% 1.8%

* This concerns provisional end-of-year figures. The final figures will be published in the annual report before the summer.