Country |
Portugal |
Overall AUM |
€11,357.20m |
RE AUM |
€1,987.50m |
Annual performance |
-0.70% |
Judge's report
Fidelidade Property demonstrates a solid and prudent investment strategy, focusing on high-quality, income-generating assets in prime locations. The real estate component is managed autonomously and professionally. The commitment to sustainability and proactive asset management is commendable.
The strategy is well diversified across European gateway cities with local external managers used outside the domestic market. The focus is on prime core and core-plus assets with long-term leases. A three-year plan aims to implement more than 275 sustainability measures across the portfolio, focusing on ESG certifications and legislation, net-zero carbon, responsible procurement and green leasing. Approximately 90% of the rent contracted in 2024 came from green leases. Performance has been resilient during a challenging time.
STRATEGIC TAKEAWAYS
➤ As of December 2024, 97% of Fidelidade’s real estate portfolio was in Europe – of which 23% was in the UK – and 3% in North America. In Q1 2024, Fidelidade Property exited its Asian exposure through the sale of a logistics portfolio in Japan |
➤ Sustainability a key pillar of the strategy |
➤By the end of the plan to implement various sustainability measures, the portfolio is expected to be fully compliant with EU Taxonomy and net-zero targets; however, the goal is not only to comply with regulatory requirements but to set an industry benchmark for sustainability in the management of real estate |
HIGHLY COMMENDED
Judged by
Maurizio Grilli
Pedro Pardo
Stephan Ryan
Tajana Štriga
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