Dutch Pension PME Pivots to Europe as US ‘No Longer Reliable’

Dutch pension fund PME is planning to plow more money into European assets and pivot away from the US, as the investor responds to policy shifts on the other side of the Atlantic.

The US is “no longer the reliable ally it once was,” PME Chairman Alae Laghrich said in a statement on Thursday. He listed Trump administration policies such as trade tariffs, as well as what he called “threats and not upholding existing agreements” as reasons for the fund’s decision.

Laghrich acknowledged that the US economy can’t be ignored, but said the current political climate means it makes sense ...