Five Dutch pension funds will invest an additional amount of €345 million in the Achmea Dutch Residential Mortgage Fund via Syntrus Achmea Real Estate & Finance.
These granted mandates will contribute to an accelerated growth of the mortgage business. Syntrus Achmea had already announced that it would issue €2.5 billion in new mortgages this year: €1.4 billion from new mandates and €1.1 billion from repayments on existing mortgages.
“We perceive a growing interest from institutional investors for residential mortgages,” says Syntrus Achmea CEO Arthur van der Wal. “The risk/return profile for this asset class remains very attractive, especially following the ECB’s announcement that it will keep interest rates low. We are proud to be able to meet the additional demand for mortgages from our customers.”
Furthermore, Syntrus Achmea’s mortgage business, including the Attens and Tellius labels, passed the €10 billion mark in 2018. The total mortgages portfolio will increase to €12 billion in 2019.