In its role as manager of the ASR Property Fund FGR (‘ASR Property Fund’), ASR Real Estate B.V. (a.s.r. real assets) is licensed as an AIF manager. As a holder of an AIF manager licence, a.s.r. real assets pursues a socially responsible investment policy and operates as an engaged shareholder, in compliance with the requirements of the revised Shareholder Rights Directive (2017/828 EU).
The shareholder engagement policy of a.s.r. real assets is based on:
• the Financial Supervision Act (Wet op het financieel toezicht, Wft)
• SRD II (Shareholder Rights Directive).
Other policy frameworks which relate to or overlap with the present policy are:
• the conflict of interest policy of ASR Nederland N.V. and a.s.r. real assets
• the CSR policy of ASR Nederland N.V.
• the CSR policy of a.s.r. real assets
• the CSR policy of ASR Property Fund
The portfolio management of ASR Property Fund’s European listed real estate portfolio has been outsourced to external asset managers. This means that a.s.r. real assets follows the shareholder engagement policy of the asset managers. Full details of the shareholder engagement policies can be found here and here. The voting behaviour during the past quarter can be found in the following report [in English].
The activities of outsourcing parties are assessed by a.s.r. real assets at least once a year in accordance with DNB requirements. Through random checks, a.s.r. real assets also periodically verifies whether the policy pursued by the asset managers continue to comply with the investment policy adopted by the manager. Further information about ASR Property Fund’s investment policy can be found in the Key Investor Information [Dutch].