NN Investment Partners is an asset manager with Dutch roots, operating on a global scale with almost € 200 billion of assets under management*. Our investment history dates back to 1845 through our strong roots in insurance and banking, allowing us to rely on in-depth knowledge of what matters to our clients.
We have been an active investor in residential mortgage loans for many years, managing the mortgage loan portfolio of NN Insurance. At the end of 2015, we opened up this asset class for third party investors by launching the NN Dutch Residential Mortgage fund, which is a partnership between NN Bank and NN Investment Partners. The fund invests in a representative slice of the NN Bank mortgage loan production for its own balance sheet, subject to a strict set of Mortgage Loan Criteria. The fund reached over € 1.5 billion of commitments within a year and continues to grow steadily. Our total assets under management in residential mortgage loans amount to more than € 13 billion*.
While the Netherlands is known for its relatively high loan-to-values (LTVs), historic credit losses have been relatively low. The changes in regulation and tax regime in the past years have further improved the credit profile of new mortgage loans - the majority of the mortgages are now amortising (annuity or linear), underwriting standards have tightened (a cap on LTV and lower loan-to-income allowed) and on top of that, affordability for new mortgages has improved.
NN has been active as an originator since 1963 and is a top 5 player, known for its high quality service and persistent presence in the market. We are committed to offer our clients high quality service and a solid product offering, including in-depth reporting and a high degree of transparency. We work together closely with our clients, to find a good match between their demands and the supply in the market, exploring other jurisdictions and formats to complement our current offering.
* Per the end of 2016
Petra Stassen – van Lochem
Client Portfolio Manager Residential Real Estate