Net asset value of the EfTEN United Property Fund as of 31.08.2022

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EFTEN UNITED REAL ESTATE FUND

The net asset value (NAV) of the EfTEN United Property Fund was €10.89 as of August 31, 2022, up 0.4% over the month. Since the launch of the fund at the end of June 2021, the total return has been 9.8% and the return on invested capital 11.6%. The fund has 1/3 of its capital uninvested.

In August, EfTEN Capital submitted a request to the FSA to change the terms and conditions of the fund. Upon approval, the most significant change will concern the possibility of initiating a program to buy back shares of the fund if, according to the management company, the fund is trading significantly below the value of its real assets.

In September, important developments took place regarding the fund’s development investment in the residential area of ​​Uus-Järveküla. The municipality of Rae has issued a permit for the construction of roads and tracks in the first stage of development. In addition, 10 new terraced houses have been put up for sale. Of the 52 houses put up for sale so far, 50 have been reserved by customers.

In September, the fund increased its investments in the EfTEN residential fund by 370,000 euros. This will be used for the completion of the development of rental houses in Kaunas and the further development of rental houses in Vilnius.

A more detailed overview of EfTEN United Property Fund’s portfolio is available on the fund’s website: https://eftenunitedpropertyfund.ee/en/fund-results-2/

Kristjan Tamla
Head of Retail
Phone 655 9515
E-mail: kristjan.tamla@eften.ee

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