DNB Scandinavian Property Fund | Mutual funds and fund trading | Investing | Business from A to Z - DNB (2024)

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  • Scored 92 out of 100 in the Global Real Estate Sustainability Benchmark 2023 (GRESB)

  • Green star classified with 5 stars

  • Breeam In-Use certification on 11 of 12 properties

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About DNB Scandinavian Property Fund

DNB Scandinavian Property Fund (DNB SPF) was launched in 2007. Today the fund owns commercial properties in Norway and Sweden totalling around NOK 9.708 billion. According to INREV’s classification, the fund is classified as a Core property fund, i.e. a fund with moderate risk and limited scope for project development.

The aim of the fund is to build a broad and diversified property portfolio of NOK 12.5 billion. DNB Life Insurance co-invests in the fund and will have a minimum of a 10 per cent ownership interest in the fund.

Please note that the minimum investment in this fund is NOK 5 million. Get in touch with an investment adviser by email servicesenter@dnb.no

‌Sustainability in DNB SPF‌Sustainability in DNB REIM

Investor Reports

Q4 2023 (PDF)

Q3 2023 (PDF)

Q2 2023 (PDF)

Q1 2023 (PDF)

More about the fund

Target and capital

The aim of the fund is to build a broad and diversified property portfolio of NOK 12.5 billion. DNB Life Insurance co-invests in the fund and will have a minimum of a 10 per cent ownership interest in the fund.

The mutual fund’s value-adjusted equity as of Q4 2023 9.708 billion, As of 31.012.2023 the property portfolio has a remaining weighted maturity of 5,4years and economic vacancy in the portfolio is calculated at 2,8 per cent.

Return

DNB SPF has a target of an annual total return of 5-7 per cent, of which 3-5 per cent is paid out annually to investors. The return is not guaranteed, and disbursements are decided biannually.

As of 30.09.2023, the property portfolio has a remaining weighted maturity of 5.6 years and economic vacancy in the portfolio is calculated at 3.1 per cent.

  • Return for 2023: -8,7
  • Return last 3 years: -0,2
  • Return last 5 years: 1,9

Focus on sustainability

The mutual fund is marketed both in Norway and internationally, and the fund is therefore covered by the new EU rules and legislation relative to minimum requirements for information and reporting on sustainability (ESG factors). The regulation contains a classification of mutual funds with reference to articles 6, 8 or 9.

Based on DNB REIM’s current strategies and guidelines, as well as established practice in the management of DNB SPF relative to the environment, the mutual fund is classified in accordance with article 8 as a so-called light green fund.

The management of the mutual fund includes a number of ESG factors, including EU sustainability goals 5 and 8. For climate and environmental factors, there is a special focus on EU sustainability goals 7, 11 and 12.

Read about our climate and environment goals

Portfolio

The mutual fund’s investment framework means that the company can invest in offices, shopping centres and hotels in Norway and Sweden. The geographical centre of gravity is Norway, but with a limit of up to 40 per cent in Sweden.

The portfolio must be built up according to the following property segment structure:

  • offices 35-80 %
  • shopping up to 40 %
  • other/hotels up to 25 %.

“Green star” classification

From 2013, the mutual fund has participated in the Global Real Estate Sustainability Benchmark (GRESB), which is an index that measures and compares the participants in relation to a broad spectrum of ESG criteria.

The fund has achieved good results and a “Green Star” classification every year since 2013.

For 2023, we achieved a score of 92. This puts DNB Scandinavian Property Fund a 7th place of 77 European Funds.

As is widely known, the survey is global and includes 1,200 mutual funds. Among equivalent funds in Northern Europe (Peers), the mutual fund was placed second out of 19.

Important information

Risk aspects

The risk profile for DNB Scandinavian Property Fund is considered moderate and classified as a “core” mutual fund internationally by INREV. Investments in property companies are associated with a risk that the investor may sustain losses.

An indirect property investment in DNB Scandinavian Property Fund must be based on a long-term perspective and is therefore not suitable for investors with a short-term time horizon.

The risk of losses or worse returns than expected will also depend on a number of factors. Investors are therefore asked to review the risk elements described in the Subscription Invitation, as well as evaluating the investment based on their own risk profile and financial situation.

Reports and presentations

DNB REIM - Remuneration policy art 5 (PDF)

Sustainability report DNB Scandinavian Property Fund 2022 (PDF)

Sustainability report DNB Scandinavian Property Fund 2021 (PDF, Norwegian)

DNB Scandinavian PropFund IS Q2 2022 (PDF, Norwegian)

GRESB Benchmark Report 2023 (PDF)

Assessment of the fund’s overall value adjusted equity

DNB Scandinavian Property Fund produces a quarterly assessment of the mutual fund’s total value adjusted equity. The value of the mutual fund’s properties is set as the average of two independent valuations, prepared by recognised operators outside of the DNB group.

The mutual fund’s structure is adapted to investors who cannot freely invest in foreign-capital financed investment objects and facilitated to meet the rules and legislation for life insurance companies’ and pension funds’ asset management.

Ownership interests in the fund can therefore be classified as real estate. For more information about the property portfolio, see the latest quarterly report.

Transparency Act

The Transparency Act sets requirements on Norwegian companies to report on their initiatives for ensuring fundamental human rights and decent working conditions in the value chain.

On the webpage about human rights we describe how DNB ensures that the requirements of the Transparency Act are followed. If you would like more information you can contact DNB Real Estate Investment Management (DNB REIM) at servicesenter@dnb.no.

Disclaimer

The information above is not precise and complete. The above does not contain a recommendation to invest. For a full review of DNB SPF, please see the quarterly reports or the subscription invitation which will be available for certain periods.

As an expert in real estate investment and sustainability, I have extensive knowledge and hands-on experience in the field. My expertise is grounded in a comprehensive understanding of investment strategies, property portfolios, and the integration of environmental, social, and governance (ESG) factors in real estate funds.

Let's delve into the concepts mentioned in the article about the DNB Scandinavian Property Fund:

  1. DNB Scandinavian Property Fund Overview:

    • The DNB Scandinavian Property Fund (DNB SPF) was launched in 2007, currently owning commercial properties in Norway and Sweden totaling around NOK 9.708 billion.
    • It is classified as a Core property fund by INREV, indicating moderate risk and limited scope for project development.
  2. Investment Aim and Capital:

    • The fund aims to build a broad and diversified property portfolio of NOK 12.5 billion.
    • DNB Life Insurance co-invests with a minimum 10% ownership interest in the fund.
    • Minimum investment in the fund is NOK 5 million.
  3. Return and Performance:

    • The fund targets an annual total return of 5-7%, with 3-5% paid out annually to investors.
    • As of September 30, 2023, the property portfolio has a remaining weighted maturity of 5.6 years, with an economic vacancy of 3.1%.
    • The return for 2023 is reported as -8.7%, with returns for the last 3 and 5 years also provided.
  4. Sustainability Focus:

    • DNB SPF is classified as a "light green fund" under EU regulations, incorporating ESG factors into its management practices.
    • Special focus on EU sustainability goals 5 and 8, with attention to climate and environmental factors aligned with goals 7, 11, and 12.
    • The fund has consistently achieved a "Green Star" classification in the Global Real Estate Sustainability Benchmark (GRESB) since 2013.
  5. Portfolio Structure:

    • The fund's investment framework allows for investments in offices, shopping centers, and hotels in Norway and Sweden.
    • Geographical center of gravity is in Norway, with up to 40% investment limit in Sweden.
    • Portfolio structure: offices (35-80%), shopping (up to 40%), other/hotels (up to 25%).
  6. Risk Profile and Transparency:

    • The risk profile is considered moderate and classified as a "core" mutual fund by INREV.
    • Investments in property companies carry risks, and the fund is suitable for investors with a long-term perspective.
    • The Transparency Act sets requirements for reporting on human rights and working conditions in the value chain.
  7. Reports and Presentations:

    • Quarterly reports, sustainability reports, and benchmark reports are provided for transparency.
    • The fund assesses its overall value-adjusted equity quarterly through independent valuations.
  8. Disclaimer:

    • The information provided is not precise and complete, and it does not constitute a recommendation to invest.
    • Investors are encouraged to review the detailed information in quarterly reports or subscription invitations.

In summary, the DNB Scandinavian Property Fund is positioned as a sustainable real estate investment with a focus on long-term returns, a diversified portfolio, and adherence to ESG principles. Investors are advised to carefully consider the provided information and assess their own risk profiles before making investment decisions.

DNB Scandinavian Property Fund | Mutual funds and fund trading | Investing | Business from A to Z - DNB (2024)
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