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The Fund’s strategy

The Residential Fund has a well-defined strategy based on the three pillars of quality, sustainability and affordability. We firmly believe that the residential sector will continue to offer good long-term investment opportunities, especially for investors with a liability hedge strategy. The Fund's plan is to increase its invested capital to € 7.3 billion by year-end 2021. The Fund will achieve this growth through targeted acquisitions of high-quality and sustainable residential assets and positive revaluations.

Capitalising on a number of significant trends and developments that affect the residential real estate market, the Fund’s strategy will focus on:

  • The Fund’s core regions with a specific focus on the Randstad and Brabantstad conurbations and the major cities in the east of the country. These regions closely correlate with the urbanisation trend in the Netherlands

  • The liberalised rental sector, with a focus on the mid-rental segment (rents between € 711 and € 1,000). In line with our focus on affordability

  • Apartments for starters, one-person and two-person households in inner city areas and family homes in more suburban locations

  • ‘Lifecycle-proof’ homes for the growing number of elderly people

  • Responsible Investment: continuing the improvement of the Fund’s sustainability performance

Diversification guidelines and investment restrictions

The Fund applies a defined set of diversification guidelines and investment restrictions in the execution of its strategy. The Fund will adhere to the following Investment Restrictions to focus on its core activity and to limit risks. 

Diversification guidelines

Current portfolio


≥ 80% of investments invested in core regions

94.0% in core regions


Investment restrictions


< 5% invested in single investment property

There is no single investment property exceeding 5% of the total portfolio of € 5.7 billion


< 10% invested in non-core (non-residential) properties

Investments in non-core properties are 0.8%


< 10% pre-finance acquisitions

Investments under construction stand at 9.7%


No investments that will have a material adverse effect on the Fund’s diversification guidelines

There were no investments in 2018 that have a material adverse effect on the Fund's diversification guidelines


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