Increasingly seen as distinct asset classes from real estate, infrastructure and other niche real asset classes such as timberland, forestry, agriculture, mobile transmission masts and utility transmission lines are regarded as having a special place in long-term portfolios alongside traditional real estate investments. Thanks to their distinctive and long-term nature, the overall impact infrastructure and other real assets can have in liability matching is significant.

For this category, entries should focus on your infrastructure and/or other real assets in the main and avoid including any traditional real estate strategies or investments, even if these assets form part of a wider real assets portfolio. If there is a close relationship with your real estate investments, then you should ensure that your entry is heavily weighted in favour of the infrastructure and/or real assets investments.

Judges would thus be keen to assess:

• the reasons for the level of your commitment
• any restrictions either at institutional or regulatory level
• examples of your investments, especially recent deals and activity
• the types and sectors you prefer
• your vision for their future role such as increasing your commitments
• the costs of investing and running infrastructure and/or other real assets mandates
• the mandates and types of vehicles used to obtain exposure
• the risks infrastructure and/or other real assets investments incur and how you manage the

This is a platinum level award focusing on your overall ESG approach and implementation.

For this category, you will need to explain what differentiates your core + from a core strategy, if you run both, how your strategy is composed, its objectives including time horizons, how you implement it, what measures you judge success by and figures/data to show outcomes to date. You should also explain how you construct your mandates and who runs them.

A core strategy is based on stable income producing properties and markets and is attractive to institutional investors looking for safe and reliable returns. Core strategies are additionally considered a means of diversification for long-term investors and your entry should begin by establishing why you chose to invest in core properties and its role in your overall risk adjusted returns.

Core + strategies target properties that offer the same secure characteristics as core assets but offer extra investment potential, to increase their net operating income such as renegotiating upcoming lease rates and tenancy rents.

More explicitly, for both core and core +, the judges will ideally look for strategies targeting properties with/in:

• credit quality tenants
• long-term leases
• stable locations
• primary and secondary markets
• secure and reliable return characteristics
• diversification benefits

The concept of institutional investors providing finance is growing fast and real estate is one of the key asset classes where they can back projects and developments with long-term benefits that match their long-term risk reward expectations and liabilities. You should therefore explain the role debt plays in your overall investment strategy, including the risk it carries and how you manage it.

Debt is a generic term and there are many different types of real estate debt available to institutional investors, including:

• mortgages
• loans to finance development and/or renovation projects
• mezzanine debt
• senior debt

You should outline the types of debt you invest in and why you chose those types. You should also include details about how you construct your relevant mandates and who manages them. You should also highlight any restrictions either at institutional or regulatory level.

Although the concept behind direct real estate investments is relatively straightforward, the judges will be keen to see how you research and invest in target assets and who manages them both financially and operationally.

You should:

• document clearly the benefits of running a direct portfolio
• any restrictions either at institutional or regulatory level
• include examples of your portfolio, especially deals and activity
• any minimum or maximum investment value
• the types and sectors you prefer
• sourcing and building relationships with partners
• explain how a direct strategy supports your long-term objectives
• outline how you manage the risks direct investments incur

This focuses on the energy efficiency of the buildings you invest in and own, including your net-zero strategy, carbon-emissions reductions, retrofitting, sustainable construction and climate risk management. This can also focus on resources (e.g. water) management, pollution and approaches to biodiversity.

An indirect strategy can be described simply as a means of gaining exposure to real estate via unlisted funds and other pooled or mutual investment vehicles. Your entry should provide full details of your indirect strategy, how you construct your mandates and who manages them.

Explicitly, the judges will be keen to know:

• why you prefer to invest indirectly
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• any minimum or maximum investment value
• explain how an indirect strategy supports your long-term objectives
• outline how you manage the risks indirect investments incur

With Asia Pacific considered a region of significant growth for real estate investors, especially markets such as China and Australia, this award will be judged on how your investments in this area complement your investments in other regions and support your overall long-term value objectives.

Examples of deals are essential and you should also include the following:

• the benefits of investing in Asia Pacific
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• your vision for its future role
• the mandates and types of vehicles used to obtain exposure
• the risks posed by investing in Asia Pacific and how you manage them

Europe offers institutional investors a wealth of dynamic opportunities in various sectors and individual markets at different stages of the economic cycle. This category seeks to reward and measure how you optimise your European portfolios in relation to your investments in other regions and how these support your overall long-term value objectives and risk return profile.

Examples of deals are essential and you should also include the following:

• the benefits of investing in Europe
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• the mandates and types of vehicles used to obtain exposure
• the risks posed by investing in Europe and how you manage them

 This category seeks to reward and measure how you optimise your Nordic region portfolios in relation to your investments in other regions and how these support your overall long-term value objectives and risk return profile.

Examples of deals are essential and you should also include the following:

• the benefits of investing in the Nordic region 
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• the mandates and types of vehicles used to obtain exposure
• the risks posed by investing in the Nordic region and how you manage them

Other than outlining your more short-term buying and selling skills to benefit from properties that are undervalued, distressed and/or under-managed, you should explain why and how adopting an opportunistic approach complements your long-term objectives and risk return profile. Your entry should provide full details how you construct your mandates and who manages them.

Explicitly, you should also include:

• the reasons for the level of your commitment
• any restrictions either at institutional or regulatory level
• examples of your portfolio, especially recent deals and activity
• the types and sectors you prefer
• the costs of investing and running opportunistic mandates
• the mandates and types of vehicles used to obtain exposure
• the risks opportunistic investments incur and how you manage them