The media is filled with recent days reports about how PGGM of the Netherlands, one of the world’s larger pension asset managers, says it is divesting from five Israeli banks it says are involved in financing construction of Jewish settlements in occupied territories.
Unfortunately, PGGM are involved here in one of the biggest lies in the Dutch pension industry, and are only seeking fame in this publicity stunt. If you look at their holdings on Q1 2013 – You will not find there a single Israeli bank as part of their portfolio. That’s right! They never invested in Israeli banks.
I suggest for all Dutch clients that manage their pensions in this company: leave them. Leave them, today. They will also lie to you! Be warned and flee to an honest pension fund, if you don’t want to help them promote their lies around the world.