UMR had €10.5bn in assets under management in 2023, with€1bn allocated to real estate. Its strategy is to invest in properties in dynamic cities across France, with a focus on Nantes, Marseille, Lyon, Bordeaux, Strasbourg, Boulogne Billancourt and Paris. It believes these areas will provide future growth based on economic and demographic factors.

The vast majority (91%) of the real estate portfolio is managed by external asset managers with expertise in a specific sub-asset class or strategy.

UMR also focuses on divesting non-strategic assets as well as assets that are too small or time consuming to manage to free up time and streamline its strategy.

UMR continues to slow its office acquisition and reinforce exposure to residential assets in response to working from home shifts. In 2023, this meant a focus on residential assets in France, such as investment in a residential building in Marseille.

UMR considers environmental, social and governance (ESG) issues to be a core component of risk management, embedding these considerations into its investment process. UMR began proactively selecting green assets in 2016, joined the UN’s Principles for Responsible Finance Initiative in 2018 and its Carbon Disclosure Project in 2020. In 2021, it updated its ESG policy with the sole objective of outperforming current regulatory requirements.

UMR also invested in a life annuity fund, ‘Coremimmo’, investing €3.3m in this area in 2023. It proposed to its members that it buy their properties based on the model of a life annuity, which it says helps retirees to safeguard complementary income and provide a more secure retirement.