Bedrijfspensioenfonds Bouwpensioen (BPF), the &euro15bn ($13.15bn) Netherlands building industry pension fund, is the only one of the 10 largest in the country that has beaten the WM Company average both in 2001 and over five years.

BPF returned 1.2% in 2001, compared to the WM Company average of -2.8%. The fund's strategy has been to invest above the industry average in property, which in 2001 was the best performing asset class, returning 11.7%, compared to equities, yielding a poor -14.7%.