SRP's Dutch database indicates that the Amsterdam Exchange Index (AEX) has remained popular with the Dutch retail investor in 2009, despite being the worst-performing European index in the past decade. Twenty-eight percent (60) of all tranche products that struck in 2009 were linked to the AEX, compared with 41 products linked to the DJEurostoxx50, 19 linked to the S&P500 and 16 linked to the Nikkei225. Of the 9,163 leverage products added to SRP's Dutch database in 2009, 1,893 (20%) were linked to the AEX, followed at some distance by Dax (312) and DJ Industrial Average (160).
During the 'noughties', from end 1999 to end 2009, the AEX fell by 50.2%, from 677 to 332 points, which made it the worst-performing index in the world. ING technical analyst Roelof Jan van den Akker told De Volkskrant that the index contained many shares of companies that had encountered serious difficulties over the time frame ("KPN or UPC to name but a few..."), while Robeco Direct senior strategist Lukas Daalder said the Netherlands lags behind when it comes to innovation. "The Amsterdam exchange does, for example, not list any successful internet companies," he said.
Other countries that performed below par were Italy (FTSE MIB, minus 46%), Japan (Nikkei225, minus 45%) and Ireland (Iseq, minus 40%).
A recent poll of 100 Dutch professional investors organised by SNS AM senior portfolio manager Corné van Zeijl predicts the AEX will have reached 361.7 points by the end of 2010, a rise of nearly 8%. A similar poll a year ago suggested the AEX would reach 302 points by 31 December 2009. That target, which would have meant a rise of 23%, was well beaten by an actual rise of 36%.