ABP shifts €29 billion from US bonds to European debt, excluding France

• 

  Dutch pension fund ABP has sold €29 billion in US government bonds since March 2025.

• 

  It used the proceeds to buy debt including bonds from Germany, the Netherlands and Spain.

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  France was not among the countries that benefited from the shift.

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  Achmea Investment Management chief strategist Thomas van Galen said France faces structural problems that are putting its government bonds under pressure.

Who

Dutch pension fund ABP.

What

It sold €29 billion in US government bonds and bought debt from European countries, excluding France.

When

Since March 2025.

Where

The shift involved US government bonds and debt from Germany, the Netherlands and Spain.

Why

Not stated. Thomas van Galen said France faces structural problems that are putting its government bonds under pressure.

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