The Amvest Living & Care Fund invests in care homes for the elderly in the Netherlands. We develop innovative concepts alongside care providers. A lovely home for everyone who needs care and who can no longer live independently. That puts us ahead in the market. The Amvest Living & Care Fund is currently not open to new investors.
The shortage of homes and care for the older working population in the Netherlands is a major challenge to society. Reforms should keep care accessible and affordable. But the reforms and rising welfare levels among the elderly mean that conventional nursing and care homes are becoming less attractive.
Amvest constructs and acquires care properties throughout the Netherlands. We focus on the elderly who have to live with more serious requirements for care and can no longer live on their own. For everyone, regardless of the depth of their wallet. Amvest is working on this alongside established partners in the care industry, for the long term. With them, we create innovative, small-scale living formats, using a well-delineated concept where residents benefit from personal attention
Amvest has all the expertise it needs, in-house, for developing and acquiring care properties. With our active management we are able to offer stable yields to our investors. We are perpetually on the hunt for suitable new (development) sites. From new-build to targeted refurbishment. We are currently investing in care concepts at Het Gastenhuis, Zorggroep De Laren, Dagelijks Leven and Futura Zorg. But we’re also open to new collaborations to add to these concepts. The result is an intensive collaboration; a partnership, always covering multiple complexes.
The Amvest Living & Care Fund has a broad strategy on sustainability. We construct energy-efficient care properties and achieve social impact by investing in small scale living environments for in essence the vulnerable elderly. The starting point here is a high quality living environment. For the third year in a row, the Fund attained the maximum 5 stars in the Global Real Estate Sustainability Benchmark (GRESB) in 2022.
In 2017, Amvest carried out its first materiality assessment of the ESG (Environmental, Social, Governance) topics most material to our internal and external stakeholders. The goal of the assessment is to align our ESG policy with our stakeholders’ expectations and to better manage our impacts on the economy, environment, and people. The outcome of the assessment is a materiality matrix.
In 2022, we set out to update the materiality matrix by surveying our investors, property managers, tenants, employees, and developers. The survey included a smaller set of topics compared to 2017. In partnership with a sustainability consultant, we selected 16 ‘house in order’ topics. These are topics that we consider fundamental to our business strategy. Examples include Compliance to legislation, Employee health, and Shareholders rights. These topics are considered material by default.
Respondents were asked to rate the level of materiality to Amvest as an organisation for a total of 17 ESG topics. We translated the materiality survey results to a materiality matrix in accordance with the guidelines of the Global Reporting Initiative (GRI). The matrix indicates the materiality of all surveyed topics according to external stakeholders and internal stakeholders. The following topics were deemed most material for Amvest:
1. Net zero: carbon emissions, energy efficiency, renewable energy
2. Climate adaptation: water, drought
3. Climate adaptation: urban heat solutions
4. Supply of sufficient high quality and affordable private sector rental homes to e.g. key workers
5. Prevention of vacancy and occupancy rate
6. Sustainable and responsible procurement
7. Circularity: materials and lifecycle
8. Generation of economic value
9. Biodiversity and nature
10. Healthy buildings
On the basis of the SFDR, financial market participants are required to indicate how they handle sustainability risks and to detail the consequences of this approach (for more details, see Investment Management). In addition, the regulation contains transparency requirements at fund level.
The regulation distinguishes between:
The Amvest Living & Care Fund qualifies as a light-green fund which promotes the following environmental and social characteristics:
1. Investing in energy efficient future proof properties.
2. Realizing a reduction of CO2 emissions.
3. Ensuring high quality living environment.
4. Focus on the provision of healthcare related real estate for i) elderly people who have a significant care indication due to somatic and/or psychogeriatric limitations and can no longer live independently (verpleeghuiszorg); ii) people who have physical or mental disabilities and cannot live independently (gehandicaptenzorg), iii) people who have a light to moderate demand for care, regardless of whether they are able to live independently and iv) elderly people who need various levels of medical or personal care (assisted living).
These characteristics are part of the fund’s strategy and the individual aspects and are reflected in Key Performance Indicators (KPIs). These KPIs are defined and measured at fund level. A target is set for each KPI that is measured and reported. The KPIs and targets are evaluated annually and adjusted if necessary.
KPIs defined and measured for these characteristics are:
1. Composition of the portfolio by energy labels.
2. Scope 1, 2 and 3 CO2 emissions of the properties.
3. Annual tenant satisfaction score on the accommodation aspect.
4. Composition of the portfolio in the four health care segments.
For more information on the KPIs defined, the results of the past year, the data sources and screening criteria, please refer to the Annual Sustainability Report of the Amvest Living & Care Fund and specifically for SFDR to attached Sustainability related disclosures.
The Amvest Living & Care Fund qualifies as an ‘article 8’ product under the SFDR and, as such, promotes Environmental/Social (E/S) characteristics. Whilst it does not have sustainable investment as its objective, it has a proportion of 89% in sustainable investments with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy and 89% in sustainable investments with a social objective.
As part of our SFDR disclosure obligations we published the following disclosures on the Amvest Residential Core Fund level:
Find here the Amvest Living & Care Fund Sustainability-related disclosures.