DNB Scandinavian Property Fund

Set up to give investors the chance to invest in a well-diversified and unsecured commercial property portfolio.

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

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 10.762 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 SPF

Sustainability in DNB REIM

Investor Reports

More about the fund

Target and capital

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: -4,2 %
Return last 3 years: 5.1 %
Return last 5 years: 5.2 %

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

“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.

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 Board of DNB Scandinavian Property Fund DA.

There is a limited annual redemption right for investors. It is a precondition that the amount requested for redemption exceeds NOK 5 million.

For more information about redemption, please see the Subscription Invitation. Any liquidation of DNB Scandinavian Property Fund is decided by the mutual fund’s investors at the company meeting and requires approval by two thirds of the share capital.

Reports and presentations

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.