- The current funding ratio of Pensioenfonds Hoogovens rose to 131.8 per cent in May, up from 125.6 per cent at the start of the year.

The fund revealed that the value of investments has fallen from € 10,685m to €9,595m in 2022 so far, which has resulted in a 12.4 percentage point fall in the current funding ratio, whilst pension increases granted this year have also pushed the ratio down a further 4.5 percentage points. However, this was offset by increases in interest rates, which pushed the current funding ratio up 26.1 percentage points. The policy funding ratio also saw increases over the past month, rising from 122.4 per cent to 123.6 per cent, meaning it is 1.6 percentage points higher than the required funding ratio of 122 per cent.

- Dutch pension provider APG has announced plans for further investment in The Student Hotel (TSH).

APG will increase their current stake in TSH as part of the deal, which is expected to allow TSH to accelerate its growth strategy and expand into key European cities. TSH, which APG first invested in in 2015, is a hybrid hospitality model that combines student accommodation, hotel rooms, co-working and meeting spaces, bars and restaurants. The transaction, which values TSH at €2.1bn, remains subject to approval from the relevant regulatory authorities.

- AP Pension's subsidiary, AP Ejendomme, has begun construction in a new property development.

Representatives for AP Ejendomme were joined by Minister of the Interior and Housing, Christian Rabjerg Madsen, and City of Copenhagen Lord Mayor, Sophie Hæstorp Andersen, and the contractor, NRE Denmark A/S, when kickstarting construction on the 166 apartments in Østerbro in Copenhagen. The residential area has been named Grunwalds Have after the legendary actor Morten Grunwald, and will include a number of ‘small living’ homes, sized at around 35-50 square metres, which are aimed at young people wanting a chance to live in the city.

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