Price Data — 1st June 2008
Net Asset Value incl. 5% initial fee: £69.264
Net Asset Value: £65.966
Aims & Attributes
- The purpose of the Fund is to provide investors with a professionally managed means of participating in the higher yielding sector (measured by Net Initial Yield) of the UK commercial property market.
- Investment decisions will reflect the long term objective to maximise total return made up on rental income plus capital appreciation.
- The Fund will seek to acquire properties with a comparatively high initial Net Initial Yield as well as providing medium term capital growth.
Fund Information
Fund Manager: | Tilney Asset Management Intl. Ltd |
Fund Advisers: | Cardales, Chartered Surveyors |
Fund Size: | £1,186.397m |
Equity: | £476.235m |
Launch Date: | 17 April 1997 |
Annual Management Fee: | 1.5% |
ex - dividend dates: | 31st December & 30th June |
Dividend as at 30/06/2007: | £1.50 per share |
Dealing Day: | Every Wednesday |
The Fund continues its negotiations on the disposal of a number of properties but is being hampered by lack of credit being made available to potential buyers.
In the meantime, the fund managers are focussing on the value enhancement and active management opportunities within the portfolio to underpin property values.
In addition, a number of rent reviews have recently been concluded which is boosting the funds income flows.
The Fund’s independent valuers have marked down further the value of some of the property assets in light of their current market view.
Performance
| Total Return % * |
| Last 12 Months |
|
-15.48% |
|
| Last 2 Years |
|
-3.22% |
|
| Last 3 Years |
|
11.39% |
|
| Last 4 Years |
|
20.32% |
|
| Last 5 Years |
|
29.69% |
|
| Since Launch |
|
125.92% |
|
| Compound Annual Return |
|
7.63% |
|
Past performance should not be seen as an indication of future performance.
*Total return: % growth excluding initial charges with income reinvested.
Source: Lipper Hindsight 31/05/2008
|
Property Spread
|
Standard
Retail |
Retail
Warehouse |
Shopping
Centre |
Offices |
Leisure |
Industrial
Warehouse |
Other |
Total |
| London |
0.00% |
3.97% |
0.00% |
4.98% |
0.71% |
0.00% |
0.00% |
9.66% |
| South East |
1.28% |
2.15% |
4.51% |
13.30% |
0.00% |
1.20% |
0.00% |
22.44% |
| South West |
0.00% |
0.32% |
8.39% |
2.19% |
0.00% |
1.45% |
0.28% |
12.63% |
| East Anglia |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
| East Midlands |
0.99% |
0.00% |
0.00% |
3.07% |
0.40% |
0.73% |
0.00% |
5.19% |
| West Midlands |
0.28% |
3.72% |
6.55% |
8.64% |
0.67% |
4.49% |
0.00% |
24.36% |
| North East |
0.54% |
0.00% |
0.00% |
4.22% |
0.00% |
0.00% |
0.00% |
4.76% |
| North West |
2.11% |
0.00% |
0.00% |
0.25% |
1.76% |
0.66% |
0.00% |
4.77% |
| Yorks & Humb |
1.16% |
0.00% |
0.00% |
1.36% |
0.00% |
1.63% |
0.46% |
4.60% |
| Wales |
0.00% |
0.00% |
3.59% |
0.00% |
0.00% |
0.00% |
0.00% |
3.59% |
| Scotland |
1.37% |
0.00% |
2.71% |
2.96% |
0.00% |
0.97% |
0.00% |
8.01% |
| Total |
7.73% |
10.16% |
25.75% |
40.97% |
3.54% |
11.11% |
0.74% |
100.00% |
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|
