Dutch Mortgage Company able to take on €1bn in new commitments

first_imgThe Dutch Mortgage Funding Company (DMFCO) has said it can accommodate at least €1bn in additional investments in residential mortgages next year as demand surges.Since the DMFCO launched its Munt Hypotheken product a year ago, the asset manager had received €5bn in commitments, €3bn of which has been issued as mortgages, according to Marieke Hut, partner and director of business development.She said the DMFCO expected to issue at least another €3bn of mortgages in 2016.To date, seven Dutch pension funds, including PGB and the large metal schemes PME and PMT, have made commitments, ranging from €100m to €2bn. According to Hut, the DMFCO is currently in talks with a number of other pension funds keen to participate in the Dutch mortgage fund.She attributed Dutch schemes’ interest in the DMFCO’s proposition partly to its “extensive governance and low cost”.“We involve our clients closely in our policy, and we can keep costs low, as we are a young and efficient organisation,” she said.“Moreover, we are independent and focus solely on mortgages.”She said the DMFCO’s Dutch mortgage fund was currently providing 200 basis points of additional returns relative to government bonds.She also confirmed that the fund would continue to focus on Dutch pension funds, “as we have developed our proposition together with our first clients”.This means, for example, that the vehicle will target long-term mortgages with a fixed rate.“Having only pension funds as like-minded investors also allows us to be flexible,” Hut said.Most of the participating pension funds have increased their commitments considerably, with PMT and PGB doubling their initial investments to €2bn and €1bn, respectively.Hut said investor demand had increased much faster than the DMFCO expected, and that it now anticipated a total committed amount of approximately €10bn by the end of 2017.The DMFCO estimates the annual market for Dutch mortgage investments in the Netherlands at €60bn.It said it expected institutional investors to play an increasingly important role in the Dutch real estate market, as banks became more reluctant to issue mortgages.last_img read more

Labour, Greens crack over cannabis views

first_img3News 27 January 2014Another major crack has emerged between Labour and the Greens – their incompatible views on marijuana.Last week they split on deep-sea drilling, and today Labour leader David Cunliffe dashed Green Party hopes of decriminalising cannabis if in power.New Zealanders are almost 50-50 when it comes to smoking cannabis. Nearly half have, including Green Party co-leader Metiria Turei.“I stopped smoking cannabis about 20 years ago,” she says.If the Green Party had its way it would immediately allow for medicinal marijuana and legal action for violent offences would be prioritised over possession.The next step is decriminalisation with a legal age limit of 18. But Labour says no way.http://www.3news.co.nz/Labour-Greens-crack-over-cannabis-views/tabid/1607/articleID/329908/Default.aspxlast_img read more

Young B&H Basketball Players Will Play Against Slovenia in Seminfals

first_imgThe B&H basketball team reached the semifinals of the European championship in the B Division for players until 16 years of age, which is being held in Sarajevo.The young B&H team will play against Slovenia tomorrow at the cultural-sports center Ilidža at 18:30 in the semifinals.The best three selections of the European championship will be placed in the European A Division, which means that the winner of the B&H-Slovenia game would be ensured a place among the best young teams in Europe from the next season.In the second semifinal, Finland and Denmark will play at 20:45.last_img