Mn Services, the management organisation of the Bedrijfspensioenfonds Metaal en Technische Bedrijfstakken (BPMT), realized a yield of 11.7% with BPMTÂ's real estate portfolio (standing investments only) during 2001. It outperformed the ROZ/IPD benchmark, which stands at 11,4%.
Mn Services manages total assets of â‚¬ 18 billion on behalf of BPMT. Of this some â‚¬ 1.2 billion is invested in Dutch real estate (houses, shops and offices).
The main reason for the outperformance was the excellent result of the office portfolio. Yield here was 14.2%, against a benchmark of 11.7%. Also the retail portfolio outperformed the benchmark, 9.8% versus 9.6%. The housing port folio slightly underperformed compared to the relevant benchmark, 11.7% versus 12.3%.
The results of the real estate portfolio is in line with results during previous years. Over the last five years real estate (standing investments) achieved an average yield of 14.1% per annum
against a benchmark yield of 13.9%.
For more information please visit www.mn-services.nl.
(source: Mn Services)