FUND RESULTS

Date 1 month 3 months 6 months 1 year 3 years Since Inception
NAV change 30.09.2022 0.5% 1.2% 3.2% 9.1% - 9.5%
Fund performance (incl dividends) 30.09.2022 0.5% 1.2% 4.0% 9.9% - 10.3%

* 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

MAIN HOLDINGS

EfTEN Kinnisvarafond: 13.3%
EfTEN Kinnisvarafond II: 3.9%
EfTEN Real Estate Fund 5: 19.6%
EfTEN Residential Fund: 2.8%
Menulio 7 Vilnius Office building: 14.7%
Uus-Järveküla development: 11.8%
Cash and cash equivalents: 33.9%

MAIN INDICATORS

Net asset value: 27.19 mln EUR
Weighted average interest rate of liabilities: 2.5%

REGIONAL ALLOCATION

SECTORAL ALLOCATION

Monthly comment

The net asset value (NAV) of the EfTEN United Property Fund was 10.95 euros as of September 30, 2022, increasing by 0,5% over the month. Since the start of the fund in late June 2021 the total return has been 10,3% and the return on invested capital 12%.

In September, the biggest contribution to the fund’s performance came from the Danske office building in Vilnius (the fund owns through the EfTEN Real Estate Fund 5). The value of the investment increased by 1,1% due to higher rental income. Since purchasing the building at the end of last year, we have replaced most of the tenants. With this, the average rental level of the building has increased by almost 15%. A higher rental income allows in the future to increase the object’s current relatively low debt level (45% of the object’s value) and to make an additional distribution to the investors.

Investment decisions

Viljar Arakas
viljar.arakas@eften.ee
Viktors Savins
viktors.savins@eften.lv
Tõnu Uustalu
tõnu.uustalu@eften.ee
Laurynas Žilys
laurynas.zilys@eften.lt
Daily operations

Kristjan Tamla
kristjan.tamla@eften.ee