Portfolio - operation
The portfolio gross rental income in 2024 was €172.3 million, compared to €164.2 million in 2023. This growth is a result of project completions in preceding quarters and the annual rental increase.
Portfolio - dynamics
In 2024, the ARC Fund standing portfolio increased to 11,171 homes with a value of €4.1 billion, compared to 11,155 homes with a value of €3.8 billion in 2023. In 2024, we invested €162.7 million in the pipeline.
Financial performance in 2024
In 2024, the portfolio value (including assets under construction) increased by €252 million (5.8%; 2023: -/-7.1%) due to positive revaluations, additions and new investments (term payments) offset by sales, resulting in a higher investment property
Fund performance
The total fund return for 2024, expressed as a percentage of the NAV based on the INREV Guidelines as of 1 January 2024, was 11.6% (2023: -/-5.1%).
Like-for-Like
We conduct a performance analysis based on like-for-like (LfL) figures to compare the performance of the ARC fund year over year.
MSCI Netherlands Residential Annual Property Index
The MSCI property index measures the returns on real estate properties and property portfolios.
Structure and governance
Amvest Residential Core Fund is structured as fund for joint account (fonds voor gemene rekening), has a broad institutional investor base and qualifies as open ended.
Amvest organisation corporate risk strategy
The strategy of the Amvest organisation focuses on two key activities:
ARC Fund risk strategy
The Amvest risk management framework is designed to facilitate strong governance and risk management within the ARC Fund.
Control Framework
Fund management - Fund management is ultimately responsible for fund-related activities, including managing the control environment and risks.