Investment Manager:
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Property Adviser:
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Introducing:
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Revised redemption terms and dividend announcement:
click here.
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UK Commercial Property outlook:
click here.
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Fund Overview and Strategy
An Introduction
Welcome
to The Glanmore Property Fund, a specialist property
fund established in 1997 to provide both
onshore / offshore private investors and
pension funds (SIPPs and SASSs) with the
opportunity of participating in the higher
yielding sector of the UK commercial property
market through a professionally managed,
specialist fund.
The
Fund enables investors to spread their risk
over a broad range of properties, the cost
of which would normally be prohibitively
expensive for a single private investor.
Please note that the Fund deals on a weekly basis (every Wednesday).
Applications, including monies, and redemption requests must be received by
the Administrator by 5pm the day before.
The Fund prices monthly.
To
Quickly view the Fund's current share price, go to the Latest fact sheet.
The
Glanmore Property Fund was formed as an offshore
company so that, under current UK tax law,
income from dividends is paid gross and
any capital disposal within the Fund is
free from capital gains tax (CGT).
In
a nutshell, the Glanmore Property Fund has, to date,
offered investors quality management, low
costs, low risk, income diversification,
prudent gearing, quality tenants with good
liquidity and good performance
Strategy
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To
invest in a diversified portfolio of commercial
properties in the retail, retail warehouse,
office and industrial warehouse sectors
of the UK market;
To
invest 70% of the gross value of the Portfolio
into good quality, higher yielding , commercial
properties with no individual investment
on acquisition representing more than
15% of the gross value of the portfolio;
To invest up to 30% by gross value of
the Portfolio into properties that stand
to benefit from active management in order
to have the possibility of achieving a
better overall return from the portfolio
than standing investments;
To
maximise total return, being rental income
plus capital appreciation, and to minimise
costs;
To provide annual compound growth (the
sum of net income added to the movements
in the capital value of the underlying
assets during the period) which will, on
a rolling five year basis, exceed the HSBC Balanced Managed Funds Index for similar
property investments;
To limit risk by prudent gearing on a
1:1.22 equity:loan basis using fixed rate
or capped rate loans. Interest on borrowings
is therefore known and controlled
The
strategy is subject to change at the discretion
of the Directors of the Fund, in the light
of prevailing economic conditions.
Your
attention is drawn to the risk factors set
out below:-
Risk
Factors
The general market for commercial property
may, during the period of any investment
in shares in the Fund, depreciate with
the result that the value of the Fund's
property investment portfolio falls. The
value of any individual property may fall,
for example, due to the insolvency of
a tenant. The monthly valuation of the
Fund will be predominantly based on the
opinion of the Fund's valuer of the
current market value of the Fund's property
portfolio.
The cash resources immediately available
to meet applications for redemptions of
shares in the Fund are limited and if
net redemption requests on any subscription
day exceed those resources investment
properties may need to be sold in order
to redeem such shares. As land and buildings
may be difficult to sell on these occasions,
there may be times when the shares cannot
be immediately redeemed.
An investment of the type offered by the
Fund may not be suitable for all investors
who should seek advice from their investment
adviser.
It is intended that an investment in the
shares of the Fund will procure regular
income for the investors who should be
aware that this income will fluctuate.
In addition it should be noted that the
tax treatment of the Fund may change.
Charges and expenses in connection with
the Fund are not made uniformly throughout
its life and it is possible that an investor
may not receive back the full amount of
its investment especially if it is redeemed
within one year.
Redemption
of the shares in the Fund is at the discretion
of the Fund's Directors and there may
be circumstances in which it is decided
not to permit redemption. Your attention
is drawn to the provisions for redemption
in the Prospectus.
Past performance is not necessarily a
guide to future performance.
The
information contained in this website is
subject to the terms of the Glanmore Prospectus,
to which the attention of eligible investors
is drawn. Guernsey investments of this nature
are only open to certain classes of investors
or through an intermediary. These pages
are not an offer or invitation to apply
for shares, nor do they solicit any such
offer or invitation. Applications for shares
may be made only on the basis of the Glanmore
Prospectus and will be accepted only from
eligible investors.
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