The net asset value (NAV) of EfTEN United Property Fund unit was 10.62 euros at the end of March, decreasing by 0.1% over the month. The decrease in NAV was related to the investment in the shares of the listed fund EfTEN Real Estate Fund AS, which closed by 1,3% down on the Tallinn stock market in March. In April, the share price of EfTEN Real Estate Fund AS has increased by 3,9%. If the fund’s investment in the EfTEN Real Estate Fund AS shares is reflected on the basis of net value, the NAV of EfTEN United Property Fund would be 10.72 euros, increasing by 0,2% in March.
At the end of March and in April, the fund received dividends from investments in the shares of EfTEN Real Estate Fund AS and EfTEN Kinnisvarafond II AS as well as the distribution from EfTEN Residential Fund. EfTEN United Property Fund will distribute these proceeds to clients in May. The proceeds of interest income from investments in the EfTEN Real Estate Fund 5 and the Menulio 7 office building in Vilnius as well as proceeds from share capital reduction of EfTEN Kinnisvarafond II AS is planned for the second half of the year. EfTEN United Property Fund will distribute these proceeds in autumn. Details of each distribution will be published in a separate stock market release.
