The Netherlands’ largest pension fund, ABP, has continued to reduce its exposure to US bonds, recently withdrawing an additional €25 billion. This move builds upon a previous reduction, bringing the total withdrawn from the US to €55 billion. Consequently, the majority of ABP’s investments are now located in Europe, reflecting a strategic rebalancing of its portfolio. ABP cites factors including valuation levels and geopolitical risks as drivers behind the decision to favor European investments. The fund emphasizes its long-term investment strategy and belief in the strength of the European economy. This shift aims to enhance the fund’s returns and mitigate potential risks associated with the US market, despite ongoing debate surrounding the impact of these decisions. The fund manages the pensions of millions of people in the healthcare and education sectors.