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Net asset value of the EfTEN United Property Fund as of 31.07.2022

·1-min read
EFTEN UNITED PROPERTY FUND
EFTEN UNITED PROPERTY FUND

The net asset value (NAV) of the EfTEN United Property Fund was 10.85 euros as of July 31, 2022, increasing by 0,3% over the month. The fund's assets reached 27 million euros, of which almost 10 million euros are uninvested.

In July, the fund made its first profit distribution, paying almost 212 thousand euros to investors. Together with the pay-out, the fund's 12 months performance is 9.4%.

The summer has been very quiet on the Baltic commercial real estate market. There have been essentially no major deals. The coming months will probably show whether this means that a bigger gap has arisen between the price expectations of buyers and sellers. In several large European cities, the first signs of the increasing risk aversion at the commercial real estate market are appearing. For example, the average interest rate on leverage to the office sector has risen from 1% at the beginning of the year to almost 5%. This is a level that in some cases is already higher than the rental income generated by these buildings. We can see whether similar situation will also carry over to the Baltic commercial real estate market when the sector's first major bank loans and bonds will need refinancing.

A more detailed overview of EfTEN United Property Fund's portfolio can be found 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