Dutch pension fund giant ABP reported that its real estate portfolio generated a return of EUR 1.2 bn in the second quarter of 2012, an increase of 4.5%. This brings the total return for the first six months to 11.1% or EUR 2.7 bn.
Dutch pension fund giant ABP reported that its real estate portfolio generated a return of EUR 1.2 bn in the second quarter of 2012, an increase of 4.5%. This brings the total return for the first six months to 11.1% or EUR 2.7 bn.
In full-year 2011, ABP booked a 1.2% increase on its real estate portfolio, or EUR 0.3 bn.
At 0.1%, ABP's overall performance in Q2 was significantly weaker due to falling commodity prices and equities in emerging countries. As a result, ABP's coverage ratio declined five percentage points to 90% compared with the first quarter of this year. The required minimum coverage ratio in the Netherlands is 105%.
Total assets under management came to EUR 261 bn at 30 June 2012. Some 10.3% - roughly EUR 26 bn - of ABP's portfolio is tied up in real estate.
The ABP portfolio is managed by administrator APG.
