| Date | 1 month | 3 months | 6 months | 1 year | 3 years | Since Inception | |
| NAV change | 31.03.2025 | 0.6% | 2.6% | 6.3% | 7.0% | 7.0% | 13.5% |
| Fund performance (incl distributions) | 31.03.2025 | 0.6% | 2.4% | 6.4% | 8.1% | 13.2% | 20.1% |
* The value of fund units may rise or fall over time. The fund’s historical performance does not guarantee or offer any indication regarding the future performance. The information contained herein does not constitute an investment recommendation or advice. Please read the fund’s key information document (KIID), prospectus as well as terms and conditions on the web www.eften.ee/united
Risk and Reward Profile
The risk and reward profile of the fund is the best estimate of the fund management company that is based on the historical performance of existing real estate funds managed by EfTEN Capital AS
| EfTEN Real Estate Fund: | 14.9% |
| EfTEN Kinnisvarafond II: | 3.7% |
| EfTEN Real Estate Fund 5: | 47.6% |
| EfTEN Residential Fund: | 5.3% |
| EfTEN Special Opportunities Fund: | 0.3% |
| Menulio 7 Vilnius office building: | 11.6% |
| Uus-Järveküla development: | 17.2% |
| Uninvested: | 0.0% |
| Net asset value: | 28.2 mln EUR |
| Weighted average interest rate of liabilities: | 4.6% |
| Loan-to-value (% of assets): | 46% |
The net asset value (NAV) of EfTEN United Property Fund units was 11,35 euros at the end of March, increasing by 0,6% per month. The fund earned a net profit of 178 thousand euros in March and a net profit of 703 thousand euros in the first quarter of 2025 (last year at the same time 93 thousand euros). If the fund’s investment in EfTEN Real Estate Fund AS shares were recorded on the basis of its net asset value, the NAV of EfTEN United Property Fund would be 11,48 euros, increasing by 1,3% per month.
In March, the fund received a higher-than-usual profit (almost 70 thousand euros) from its investment in the development company Uus-Järveküla OÜ. During the month, 18 semi-detached and terraced houses were transferred to clients in the Uus-Järveküla residential development (real right agreements were concluded), from which the company earned a record profit of 553 thousand euros. In April-May, it is planned to deliver to customers the last 7 terraced and semi-detached houses completed in the second phase of the development.
In addition, Uus-Järveküla OÜ received a building permit in April for the construction of the last phase of the Uus-Järveküla residential development, within which 32 terraced houses will be completed. The construction price of the final stage of terraced houses will be approximately 1,850 euros per square meter (including VAT) according to the signed construction agreement. To finance this, the company plans to sign a loan agreement with a bank during April, and the terraced houses are planned to be completed in the first quarter of 2026.
The net value of the fund’s largest investment, the EfTEN Real Estate Fund 5, increased by 0.7% in March. A tenant was added to the EfTEN Vilnius (former Danske bank) office building, as a result of which the occupancy rate of the office building increased to 100%. The growth of the EfTEN Real Estate Fund 5 was strongly supported by EfTEN Kristiine OÜ, the company that owns the Kristiine shopping center, whose equity value increased by 0.9% in March.
In March, the fund sold 139 thousand euros worth of EfTEN Real Estate Fund AS shares and reduced the balance of the overdraft taken from its account in December to 166 thousand euros. The overdraft was used to partially finance the investment in Kristiine shopping centre. The fund does not plan to sell more EfTEN Real Estate Fund AS shares in the near future.
