Our real estate approach is resolutely asset management-based, in the sense that it seeks to achieve a general, long-term balance. The great majority of our transactions are core and core+, in other words focused on a long-term distribution of recurring income to our clients.
Our allocation strategy is based on both geographic and sector diversification. We manage a real estate portfolio located in more than 11 euro zone countries. The day-to-day management of real estate assets is taken care of locally, particularly through our property managers.