|Date||1 month||3 months||6 months||1 year||3 years||Since Inception|
|Fund performance (incl distributions)||30.06.2023||0.0%||-0.4%||-0.6%||1.6%||-||11.1%|
* 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:||16.3%|
|EfTEN Kinnisvarafond II:||3.9%|
|EfTEN Real Estate Fund 5:||19.6%|
|EfTEN Residential Fund:||3.9%|
|Menulio 7 Vilnius Office building:||15.2%|
|Cash and cash equivalents:||26.1%|
|Net asset value:||26.3 mln EUR|
|Weighted average interest rate of liabilities:||6.8%|
|Loan-to-value (% of assets):||34%|
The net asset value (NAV) of the EfTEN United Property Fund was 10.61 euros as of July 31, 2023, remaining unchanged as compared to the previous month. Since the start of the fund in late June 2021 the return on invested capital has been 11%. The fund has almost 30% of its capital as uninvested.
For several months in a row, the value of EfTEN Kinnisvarafond II AS grew the most in the fund’s portfolio, increasing by 0.8% in July. One of the largest investments of this fund, the Radisson Collection hotel in Tallinn, achieved 84% occupancy in July. In addition, EfTEN Kinnisvarafond II AS refinanced the bank loan of the Magistrali shopping centre in Tallinn Mustamäe district. As a result, the interest on loan decreased from 5.9% to 4.7%.
The value of EfTEN Real Estate Fund AS was the only one to decrease in the fund portfolio – the share price at the Tallinn Stock Exchange closed at almost 2% lower level at the end of July as compared to the previous month.
In July, EfTEN United Property Fund made no new investments.