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Report of the Board of Directors

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Market developments and trends

In the course of 2017, the Dutch economy gained additional positive momentum. GDP growth was dominated by strong export figures, private investments and increased household spending.

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The Fund’s strategy

The Residential Fund has a well-defined growth strategy, as we believe the residential sector continues to offer good long-term investment opportunities, especially for investors with a liability hedge strategy.

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The forecast growth in number of households will remain a major long-term factor in the increasing demand for homes.

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