The Pensioenfonds Horeca & Catering equities portfolio is diversified over equity, private equity and convertible bonds. The bulk of the portfolio is invested in listed equities in developed markets. The remaining part of the listed equity portfolio is invested in emerging markets. Pensioenfonds Horeca & Catering has been investing in private equity since 1 January 2004.
The Pensioenfonds Horeca & Catering fixed income portfolio encompasses bonds, mortgages and cash. The bond portfolio is diversified over government bonds (nominal and inflation protected), emerging market debt and global high yield bonds. The mortgage portfolio consists of indirect placements via participatory holdings via funds that issue mortgage loans to Dutch companies and individuals.
The property portfolio consists of holdings in listed property funds and closed end property funds. The closed-end funds invest in commercial property in the Netherlands including retail and housing. The listed property funds invest worldwide.