Pensioenfonds ING invests 100 million in ASR Dutch Farmland Fund
Pensioenfonds ING joined the ASR Dutch Farmland Fund on 1 January 2023. Pensioenfonds ING, alongside existing investors a.s.r, BPL Pensioen and DELA, will invest in this unlisted real estate fund of a.s.r. real estate for a total amount of € 100 million. The ASR Dutch Farmland Fund manages 36,000 hectares of Dutch farmland worth € 1.8 billion.
The ASR Dutch Farmland Fund’s agricultural portfolio has been built up over more than a century. The fund invests in agricultural land in the Netherlands and has a strong focus on long-term value creation for agricultural businesses, investors and society. It offers institutional investors the opportunity for a stable return in combination with a unique diversification effect.
Dick van den Oever, fund director ASR Dutch Farmland Fund: ‘The fund’s ambition is to grow further and pass on farmland in an even better condition to future generations. Both in terms of sustainability and land mobility, we want to play a progressive role together with agricultural businesses, knowledge institutions and chain parties. Opening up the portfolio to institutional investors creates more room for growth and further development of our climate-smart farming strategy. We are pleased that with Pension Fund ING, we have once again managed to secure a like-minded, long-term partner for the fund.’
Wim van Iersel, Executive Director at Pensioenfonds ING: ‘By investing in the ASR Dutch Farmland Fund, Pensioenfonds ING is contributing to the necessary transition to a sustainable and future-proof Dutch agricultural sector. This fits in well with the theme of our Corporate Socially Responsible Investment (CSRI) policy: A future tomorrow, too. In addition to this contribution, we believe this long-term investment offers the opportunity for a stable financial return for our participants. We therefore think this investment perfectly shows that realising financial returns can go hand in hand with our CSRI objectives.’
The pressure on the agricultural sector to become more sustainable has been mounting in recent years, and this requires innovative solutions. Together with agricultural businesses, a.s.r. has long been taking steps to improve soil health and promote biodiversity. At the end of 2021, a.s.r. announced that it will reward farmers who are committed to sustainable business practices. a.s.r. believes that not only farmers are responsible for the transition to a sustainable agricultural sector, but that all parties in the chain must make this switch together. a.s.r. real estate emphasizes that investing, in addition to the chance of return, also entails risks.
About a.s.r. real estate
On behalf of its clients, as a real estate asset manager, a.s.r. real estate has managed and invested in residential, retail and office real estate, agricultural land and infrastructure for over 125 years. For professional investors it manages five Dutch real estate funds and individual asset management mandates for (inter)national real estate. a.s.r. real estate looks for long-term value development of real estate and is part of a.s.r., one of the largest insurers in the Netherlands.
About ING Pension Fund
Pension fund ING is a company pension fund established on 1 January 1995. In the past, participants of ING Pension Fund have accrued pension at ING Pension Fund through a job at ING Bank, at NN Group and with legal predecessors. The Fund administers the accrued pension entitlements, pays out pensions and invests and manages the fund assets. The legal form of the Fund is a non-profit foundation. With an invested capital of approximately € 30 billion and nearly 70,000 participants, the Fund is one of the larger company pension funds in the Netherlands.
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