The net asset value (NAV) of the EfTEN United Property Fund was 10.89 euros as
of August 31, 2022, increasing by 0,4% over the month. Since the start of the
fund in late June 2021 the total return has been 9,8% and the return on invested
capital 11,6%. The fund has 1/3 of it's capital as uninvested.
In August, EfTEN Capital submitted a request to the FSA to amend the terms and
conditions of the fund. Upon approval the most important change will concern the
possibility to initiate a buyback program of the fund's units if, according to
the fund management company, the fund trades clearly below the value of its real
assets.
In September, important developments took place regarding the fund's development
investment in the residential district of Uus-Järveküla. Rae municipality issued
a permit for the construction of roads and tracks in the first stage of the
development. In addition, 10 new terraced houses were put on sale. Out of the
52 houses that have been on sale so far, 50 have been booked by customers.
In September, the fund increased its investments in the EfTEN Residential Fund
by 370k euros. This will be used towards the completion of the development of
rental houses in Kaunas and the continuation of the development of rental houses
in Vilnius.
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 (mailto:kristjan.tamla@eften.ee)
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