The European media outlet said that the pension fund started building its precious metal exposure in October 2020.
The pension fund bought its last portion of gold in April to reach its strategic allocation of 5%.
During periods of heightened risk and uncertainty, gold has historically benefitted from flight-to-quality flows, providing both positive returns and helping to reduce portfolio losses,” Krishan Gopaul, senior analyst at World Gold Council, said in the report.
According to the report, nearly 60% of portfolios surveyed said they would increase their exposure to infrastructure.