The Dutch pension fund ABP has sold all of its Tesla, Alphabet, and Meta shares citing the companies' failure to meet the pension's governance standards.
Short version: You are funding a madman who wants to invade Greenland, this does not reflect well on your claims that you are properly managed:
ABP, the Netherlands' largest pension fund, has sold its shares in tech companies Meta and Alphabet, its CEO told Dutch newspaper FD in an interview published on Monday.
CEO Harmen van Wijnen said the companies no longer fit the fund's governance criteria. FD reported last month that ABP had sold its shares in Tesla for the same reason.
Van Wijnen said the shares in the three companies were sold in the third quarter of last year. He did not specify the exact timing or prices at which they were sold.
In second quarter of 2024 the pension fund held Alphabet shares worth about 3 billion euros ($3.15 billion) while its Meta holdings totalled 2 billion euros, FD said. Its Tesla holdings were valued at 597 million euros at the time.
Van Wijnen said the sales were not related to the election of Donald Trump as U.S. President and the support he received from the CEOs of those companies.
"We are agnostic when it comes to Trump," Van Wijnen told FD.
Yeah, right, it's just an amazing coincidence.
0 comments :
Post a Comment