Judge's report

APG continues to impress in many ways: operations, ESG quantification, impact delivery, investment strategy execution and risk management. Its use of talent and scale to make an impact is also noteworthy. With solid operating fundamentals, ongoing innovation and focus on long-term financial returns, APG is well placed to outperform peers in the coming years.

APG demonstrates a very clear and structured approach to a diversified and sustainable portfolio based on the five megatrends of urbanisation, demographic and social changes, technological advancement, experience and sharing economy, climate change and resource scarcity combined with a belief that its team is the most valuable asset.

It has a very strong and proactive real ESG focus and standards. The APG Tactical Real Estate Pool was transformed into the APG Global Developed Real Estate Responsible Investments Index Pool in 2023. The strategy was designed in-house, promoting environmental and social characteristics, and targets global listed investments with an ESG-CRREM aligned index. The strategy is “enhanced passive” by nature and managed externally.