DNB Scandinavian Property Fund

Established to give investors the opportunity to invest in a well-diversified and non-mortgaged commercial property portfolio in the largest cities in Norway and Sweden.

Image of a modern, black building with blue sky around it

Direct exposure to fully developed commercial property in Norway and Sweden.
High proportion of BREEAM certified buildings
Inflation protection through the KPI adjustment of rental income

Key ratio Q3 2024

Value (VEK):

9,959.2 million

Annual lease income:

540 million

Economic vacancy:

Return so far this year:

4.1%

Annual return in the last 3 years:

-0.2 %

Annual return in the last 5 years:

1.9%

The mutual fund is non-mortgaged and has a moderate risk profile (CORE) with a focus on cash flow assets. The development can amount to a maximum of 5 per cent.

The mutual fund is actively managed and invests in the office, commerce, hotels and social building segments
Long-term return target of 5-7 per cent
Targets for direct returns of 3-5 per cent
Sustainability is integrated into the management - SFDR Article 8 fund
GRESB 5 stars (Global Real Estate Sustainability Benchmark)
DNB Livsforsikring co-invests in the mutual fund and will own a minimum of 10 per cent in the mutual fund company
Minimum subscription for Norwegian feeders is NOK 5 million
For international investors, investment is offered with moderate lending

Reports

See our reports here

More about the mutual fund

Sustainability

DNB Scandinavian Property Fund is classified as an article 8 fund in accordance with SFDR with a focus on reducing greenhouse gas emissions through improvements to the property portfolio – in line with new technology and in accordance with all applicable requirements, on behalf of investors, tenants and society.

The path to a zero-emission society requires courage, will, expertise and long-term and systematic work over time. Consideration of the environment, social relationships, as well as corporate governance (ESG factors) are an integral part of both the investment process and ongoing management carried out by DNB Real Estate Investment Management (DNB REIM).

Sustainability work is rooted in the fund’s sustainability plan with the main focus on

Reduction of greenhouse gas emissions
Reduction in energy consumption
Reduction in water consumption
Increased degree of waste sorting
Third-party building certification

Since 2013, the fund has participated in the Global Real Estate Sustainability Benchmark (GRESB) with good results and achieves 5 green stars

Portfolio

“Green star” classification in GRESB

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 points.This places DNB Scandinavian Property Fund as no. 7 of 77 European funds. There are 2200 mutual funds included in the benchmark.

GRESB Benchmark Report (PDF)

Risk aspects

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 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.

Purchase of shares, redemption and liquidation

Shares in DNB Scandinavian Property Fund can be freely traded, but changes in ownership must be reported to the Portfolio Manager, DNB Real Estate Investment Management (DNB REIM) and approved by the board of the relevant feeder company.

There is a limited annual redemption right for investors. It is a prerequisite that the investor has owned the shares for a minimum of 18 months and that the amount required to be redeemed exceeds NOK 5 million. For more information on redemption, see the Subscription Invitation.

A liquidation of DNB Scandinavian Property Fund is decided by the fund’s investors at the corporate meeting and requires approval of 2/3 of the company capital.

For more information, please contact the Portfolio Manager

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 invested 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.

Contact us

Contact the team behind the fund for a discussion about why you should choose DNB Scandinavian Property Fund

DNB Scandinavian Property Fund

Disclosure of the 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 complied with. For more information, you can contact DNB’s Business Property at servicesenter@dnb.no

See account of the Transparency Act

Disclaimer

The information above is not precise or 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 at certain periods.

Useful links

Sustainability in DNB REIM

Sustainability at DNB