Stichting Pensioenfonds voor de Woningcorporaties (SPW), the Netherlands pension fund for housing corporations, has mandated fellow Dutch company, ASR, to manage an existing portfolio and convert it to mainly a European, unlisted platform.
SPW said the new new portfolio would be worth at least €1 bn and would possess a strong bias towards residential property in the Netherlands. However, it could also contain global, listed real estate positions.
'In the intended portfolio, there is more focus on our own region, and allocation-specific sectors in order to make governance more targeted,’ it said.
According to an annual report, as of 2022 SPW's largest exposure (nearly 43%) is to North America, followed by Europe (32%), a zone of south east Amsterdam (10%), the rest of the Netherlands (8%), and smaller allocations to overseas markets, specifically Japan (2%).
