ING Real Estate announced that its three Dutch property funds - the ING Dutch Office Fund, the ING Dutch Retail Fund, and the ING Dutch Residential Fund - each outperformed their respective benchmarks in 2003. This marks the fifth year of outperformance for the office fund and the third consecutive year of outperformance for the retail and residential funds since the ROZ/IPD benchmarks were chosen in 1998.
The EUR 1.7 -billion ING Dutch Office Fund portfolio achieved a return of 5.7% in 2003, versus 4.8% for the ROZ/IPD office benchmark. The EUR 1.4-billion ING Dutch Retail Fund portfolio returned 9.9% for the same period. This was an outperformance compared to the ROZ/IPD retail benchmark, which returned 9.1%. The EUR 850-million ING Dutch Residential Fund portfolio achieved a return of 7.8% in 2003, outshining the 7.1% of the ROZ/IPD residential benchmark. All performance figures are based on standing investments. Benchmark data is from the ROZ/IPD Netherlands Property Index 2003.
ING Real Estate Investment Management manages the three unlisted real estate funds, each of which invests in a specific sector of the Dutch property market, on behalf of international institutional clients from the Netherlands and abroad.
With 600 employees on four continents and assets under management of EUR27 billion, ING Real Estate Investment Management offers a broad array of investment options, including 9 listed property funds, 22 unlisted property funds, and separate accounts.
Source: ING Real Estate