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General information

Profile

Altera Vastgoed NV is a leading private real estate investment company in the Netherlands with four separate sector portfolios:
Residential, Retail, Offices and Industrial. All four sector portfolios are exclusively
invested in the Dutch real estate market. Total assets under management amount to approximately € 1.6 billion.
The participation in one or more of the sector portfolios of Altera Vastgoed is intended for Dutch pension funds. We have deliberately chosen to be highly transparent in our processes, management activities, communication
to the investment community and accounting reports.

Mission

Altera Vastgoed provides institutional investment products in Dutch real estate in accordance with the
requirements of pension funds. This has been translated into the following product features:

  • an indirect investment structure with the return-risk characteristics of direct real estate
  • cost efficiency through an integrated management structure
  • a tax efficient structure (fiscal investment institution)
  • the aim to deliver outperformance against the IPD/ROZ index per sector
  • a high level of transparency (reporting, accounting, strategy etc.)
  • maximum flexibility regarding incoming, switching or outgoing shareholders
  • strong emphasis on strategy and pre-defined portfolio characteristics
  • optimal implementation of sustainability improving measures
  • independency, with no conflicts of interests and a strong focus on integrity
  • a client-oriented and a wide-ranging service culture

Objectives

The investment target of Altera Vastgoed on the property portfolio level per sector is to outperform the IPD/ ROZ sector index (standing investments ) on a rolling five years basis. Altera Vastgoed offers shareholders a competitive fund management cost structure. The company strives be among property funds with the lowest level of fund management costs. These costs may not exceed 33 basis points of assets under management. Altera Vastgoed aims to be fully invested in property in each sector.

Products

Altera Vastgoed has four types of letter shares, representing the four Dutch real estate sectors:

  • Residential (letter shares A)
  • Retail (letter shares B)
  • Office (letter shares C)
  • Industrial (letter shares D)

Shareholders are free to choose the sectors in which they wish to invest. Strategic/tactical decisions on allocation across the four sectors are therefore made by the shareholders, and do not form part of the strategic policy of Altera Vastgoed.