On This Page
Nederlands Hypotheek Fonds
Key Statistics
Fund Size
€23M
Target Return
4.5%
Launch Year
2014
Min. Investment
€100,000
Availability
Open for public
Structure
FGR
Product Category
Open-end
Domicile
Netherlands
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
1%
Carry
None (no performance fee; 1% annual management fee only)
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Redemption on the 1st of the month after request
Highlights
Allocations
Investment Strategy
Industry Focus
Historical Performance
Information about fund
Nederlands Hypotheek Fonds at a Glance
Nederlands Hypotheek Fonds (NHF) is a closed fund for joint account from Herten, Roermond, that has lent to entrepreneurs and professional property investors since May 2014. Every loan is secured by a mortgage right on Dutch real estate, capped at 60% of market value and EUR 1 million per property. According to the July 2024 brochure the fund had made 150 loans and managed more than EUR 23 million from 80 investors. Investors buy in from EUR 100,000 and share in the interest income after a 1% annual fee. The manager is registered with the AFM under the light regime and has no AFM licence.
Key Figures
Fund Assets
EUR 23M+
Brochure 21 July 2024; 80 investors
Expected Return
4.5%+
After costs, per website Sept 2026; an expectation, not a commitment
Return 2025
5.36%
Net after costs, as reported by the manager
Minimum
EUR 100,000
Four participations of EUR 25,000; top-ups from EUR 25,000
Management Fee
1% p.a.
Of fund assets; covers manager, custodian and credit committee
Max Loan-to-Value
60%
Of market value; max EUR 1M per property, repaid within 20 years
Terms & Liquidity
| Legal Structure | Closed fund for joint account (FGR), tax-transparent; established 2 May 2014 for an indefinite period; max 150 participants and EUR 100M |
| Manager / Custodian | NHF Beheer B.V.; legal title held by Nederlands Hypotheek Fonds B.V.; administration by Draivz with AA2020 |
| Supervision | AFM registration under the light regime (art. 2:66a Wft), fund ID 50021415 since 17 Dec 2015; no AFM licence, no AFM supervision |
| Lending | Business loans only, via approved intermediaries; fixed-rate periods of 1, 5 or 10 years; borrower rates 6.3%-6.9% (website, Sept 2026) |
| Distributions | Advance of 1% per full quarter; balance after the participants' meeting approves the annual accounts |
| Other Costs | Up to 0.5% transaction charge on issue and redemption, for the fund (not charged to date); third-party foreclosure costs borne by the fund |
| Redemption | Paid on the 1st of the month after request if liquidity allows; no redemption right; participations not transferable |
Net returns reported by the manager: 4.65% (2014, part year), 4.48% (2015), 4.57% (2016), 4.79% (2017), 4.50% (2018), 4.71% (2019), 5.06% (2020), 5.1% (2021), 5.1% (2022), 5.39% (2023), 5.4% (2024) and 5.36% (2025). No audited annual accounts were publicly available to check these figures.
Board of Nederlands Hypotheek Fonds B.V.
Leon Kersten
Chair and founder
Michel Metten
Board member
Arjen Baetsen
Board member
Points to weigh. The fund has no AFM licence and is not supervised by the AFM, and its custodian is a related company rather than an independent depositary. Returns are self-reported; the brochure and website disagree on whether the annual accounts are audited, and no key information document was found. Investors have no right to redeem: an exit is paid only when the fund has cash, and in the first half of 2024 EUR 2 million flowed out. Borrowers are businesses that banks turned down, the portfolio is small and concentrated in the Netherlands, and a single loan can be up to EUR 1 million. The main intermediary for Noord-Brabant, Fincq, was co-founded by the fund's founder. A mortgage right does not remove the risk of losing part of the investment.
Deepdive & Related Funds
Comparable Funds
ASN Energie & Innovatiefonds
Open-ended Dutch impact fund, formerly the ASN Groenprojectenfonds, that lends to unlisted renewable energy and energy transition projects, at least 80% via senior secured loans. Article 9 SFDR, risk indicator 2 of 7, listed on Euronext Amsterdam and daily tradeable through ASN Bank. Net return since 1995: 1.97% per year.
ASN Microkredietfonds
The ASN Microkredietfonds is an open-ended Dutch microfinance fund established in 1996 that makes private loans and takes minority equity interests in microfinance institutions in low- and middle-income countries through the ASN Microkredietpool, a subfund of the ASN investment company ASN Beleggingsfondsen AIF N.V. (an AIF, not a UCITS) licensed by the AFM. The fund is traded on a daily basis through Euronext Fund Services. The costs of the fund amount to 2.30% per year. The risk indicator is 2 of 7.
Aubley Vastrentende Obligaties
Fixed-rate bond programme giving Dutch private investors exposure to PennantPark's US private credit funds. Two variants: 6% over 3 years and 7% over 5 years, with interest paid monthly and a minimum investment of EUR 100,000. Secured by a pledge with a minimum 110% coverage ratio. The issue is exempt from prospectus requirements and not supervised by the AFM or DNB.
BB Capital Private Credit Fund
Evergreen private credit fund-of-funds from Dutch manager BB Capital, launched in June 2024. Invests in specialised private credit funds providing direct, predominantly senior secured lending to mid-sized companies outside traditional banking channels. Targets a stable 6-8% net per year with quarterly dividends, no capital calls and day-one deployment. Managed by AFM-licensed BB Capital Management B.V.
BridgeFund Beleggen
Fixed-rate loan programme in which private and business investors lend from EUR 100,000 to Stichting Capital BridgeFund, which funds BridgeFund's portfolio of short-term loans to Dutch SMEs. Rates of 3.75% (flexible) to 6.00% (5 years) as of September 2026, paid monthly or compounded. Not a fund; not supervised by the AFM.
Bufr Fonds Vastgoedhypotheken 4
Pooled fund of Bufr Investeringsfonds B.V. that provides first-mortgage business loans on Dutch commercial real estate. Prognosed return 6.25% a year paid monthly, minimum EUR 100,000, term of three or five years, maximum 70% loan-to-value per loan. Manager is AFM-registered under the light regime (art. 2:66a Wft) without an AFM licence.
Floryn Beleggen
Fixed-rate loan programme in which investors lend from EUR 100,000 to Floryn MKB Financieringen III B.V., the Floryn entity that owns a portfolio of loans to Dutch SMEs. Terms of 3 months to 5 years at 3.90% to 6.00% (September 2026), with a first pledge on the loan portfolio held by a security agent. Not a fund; outside AFM supervision.
Fresh Dutch SME Fund
Open-end Dutch fund (FGR) holding loans to 200+ established Dutch SMEs, selected by Voordegroei and approved by OHV. Daily dealing at NAV from EUR 1, no entry charge, 0.25% exit charge (up to 0.50%), class A ongoing costs 1.25%. EUR 142.4M on 24 Sep 2026. Managed by OHV Institutional Asset Management under an AFM licence (art. 2:65 Wft).
Explore further
More funds like this
Understand the structure
This is an unverified fund profile written by FundScouter and may contain inaccuracies.
Are you affiliated with this fund? Claim this fund to verify and manage your fund profile.