Syntrus Achmea Real Estate & Finance has welcomed the first foreign client to its residential mortgage fund. Gothaer Asset Management, a division of German insurer Gothaer, has issued a €500 mln mandate to invest in Dutch residential mortgages.
‘We’re proud to welcome Gothaer as a client,’ says Arthur van der Wal, CEO of Syntrus Achmea. ‘Last year we decided to open up two of our funds to foreign investors. In addition to the healthcare real estate fund, the residential mortgage fund has now also welcomed its first foreign client: Gothaer Asset Management. This broadens the foundations of both funds, and that’s good news for all the participants.’
‘Dutch mortgages give a further boost to the risk/return profile of our portfolio,’ says Gothaer Asset Management CEO Christof Kessler. ‘Thanks to its extensive knowledge and experience of mortgage investments and its excellent results, Syntrus Achmea is the ideal partner for us. We look forward to our partnership with great confidence.’
Gothaer and Achmea are both members of Eurapco, an alliance of eight cooperative insurers in Europe. ‘We’ve been working together for a long time,’ says Bianca Tetteroo, a member of the Achmea Executive Board. ‘It’s great that this has now resulted in an agreement, under which we’ll help Gothaer to achieve its investment objectives.’
The residential mortgage fund has more than 50 institutional investors. Its portfolio has grown significantly in recent years, reaching €8.6 billion by the end of Q4 2019. The fund is expected to grow to more than €10 billion this year. With the exception of advice to consumers, Syntrus Achmea provides all other services in-house.