PGGM Sold Italian Bonds, Chief Investment Officer Tells Dagblad
Dutch pension fund Zorg en Welzijn, which is PGGM’s largest client, had 1.9 billion euros ($2.6 billion) in Italian debt at the end of last year, Dagblad said. PGGM also continued to reduce its holdings in Spanish sovereign debt, which it started to do in 2010, the newspaper cited Kragt as saying.
The asset manager also lowered trading limits on several French bank, Kragt told Dagblad.
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