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The Fund at a glance

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Key performance over five years

All amounts in € thousands, unless otherwise stated

2021

2020

2019

2018

2017

Statement of financial position

     

Total assets

7,838,349

7,080,958

6,699,661

5,793,075

4,783,924

Total shareholders’ equity

7,681,103

6,931,287

6,529,288

5,761,761

4,751,642

Total debt from credit institutions

-

-

-

-

-

      

Performance per share

     

Dividends (in €)

102.56

110.50

97.29

94.99

90.82

Net earnings (in €)

532.49

314.40

489.06

665.23

508.28

Net asset value IFRS (in €, at year-end)

5,301.91

4,875.16

4,671.54

4,280.93

3,710.00

Net asset value INREV (in €, at year-end)

5,311.69

4,879.63

4,675.53

4,286.07

3,714.31

      

Result

     

Net result

766,056

442,538

671,208

878,013

637,610

Total Global Expense Ratio after tax (TGER)

0.53%

0.52%

0.53%

0.54%

0.53%

Real Estate Expense Ratio (REER)

0.89%

0.92%

0.99%

1.00%

1.26%

Distributable result

147,007

157,361

135,413

125,372

113,930

Pay-out ratio

100%

100%

100%

100%

100%

      

Fund return

     

Income return

2.1%

2.4%

2.3%

2.5%

2.7%

Capital growth

8.9%

4.4%

9.1%

15.4%

12.6%

Total Fund return

11.1%

6.8%

11.5%

18.2%

15.6%

      

Portfolio figures

     

Investment property

7,098,313

6,369,668

6,209,139

5,185,923

4,143,094

Investment property under construction

639,153

453,085

388,303

558,704

463,040

Gross initial yield

3.7%

3.9%

3.9%

4.1%

4.6%

Total number of residential units

18,134

17,760

18,227

17,174

16,172

Average monthly rent per unit (in €)

1,160

1,130

1,104

1,055

1,020

Financial occupancy rate (average)

97.8%

98.4%

97.9%

97.5%

97.8%

Sustainability (A, B or C label)

100.0%

100.0%

100.0%

98.0%

94.6%

      

Property performance (all properties)

     

Income return

2.7%

2.8%

2.8%

3.1%

3.3%

Capital growth

8.9%

4.4%

9.3%

15.6%

13.0%

Total property return

11.8%

7.3%

12.4%

19.1%

16.7%

      

MSCI (Netherlands Property Index) residential real estate (all properties)

     

Income return

2.9%

2.9%

3.2%

3.4%

3.8%

Capital growth

12.2%

5.3%

10.1%

14.7%

12.6%

Total return MSCI (NPI)

15.4%

8.3%

13.6%

18.6%

16.9%