Analysis – Dutch pension fund reform triggers investment rethink

The new rules also mean pension funds can be less strict about using derivatives such as swaps to protect against fluctuations in interest rates and currencies. hedging will focus on older workers and retirees, so investors are expected to turn to short-term interest rate swaps. Commerzbank (ETR: 175CBKG

) expects a “huge” change in the market, in which Dutch pension funds are major players.