Financial Update for Baltic Horizon Fund - August
Recently, the Baltic Horizon Fund (the Fund) released its figures for net asset value (NAV), marking a notable point in its financial journey. At the end of August, the NAV per unit was EUR 0.8011, which is a slight decrease from EUR 0.8028 at the close of July. The Fund's total net asset value now stands at EUR 95.8 million, down from EUR 96.0 million the month prior.
Comprehensive Financial Overview
The Fund’s consolidated net rental income remained steady at EUR 1.0 million, matching the earnings from July. This consistency showcases the effective management and investment strategies in place.
Exciting Developments
A standout highlight from August was the signing of a new lease with EXPO Group. This collaboration paves the way for an interactive entertainment center, which will span about 2,000 square meters within Galerija Centrs. This project underscores the Fund’s commitment to diversifying its portfolio and enhancing services for tenants.
Cash Flow and Asset Positioning
As August came to a close, the Fund’s consolidated cash and equivalents totaled EUR 3.9 million, down from EUR 4.8 million at the end of July. The total consolidated assets of the Fund on August 31 were EUR 249.8 million, slightly lower than EUR 250.1 million reported in July.
Management and Oversight Structure
The Baltic Horizon Fund functions as a registered contractual public closed-end real estate fund, managed by Northern Horizon Capital AS, a licensed alternative investment fund manager. The Fund, along with its management company, strives to uphold transparency and bolster investor confidence by complying with regulations set forth by the Estonian Financial Supervision Authority.
Contact Information
If you’re seeking more details or have any questions about the Baltic Horizon Fund, feel free to connect with:
Tarmo Karotam
Baltic Horizon Fund Manager
Email: tarmo.karotam@nh-cap.com
To learn more about the Fund’s portfolio, ongoing projects, and updates, visit www.baltichorizon.com.
Frequently Asked Questions
What is the NAV reported for August 2024?
The NAV per unit for the Baltic Horizon Fund as of August 2024 was EUR 0.8011.
How much was the net rental income for the Fund?
The consolidated net rental income remained stable at EUR 1.0 million in August, just like in July.
What new initiatives have been announced by the Fund?
The Fund has signed a lease with EXPO Group to develop a 2,000 square meter interactive entertainment center.
What are the total assets of the Baltic Horizon Fund?
The total consolidated assets were reported at EUR 249.8 million at the end of August 2024.
Who manages the Baltic Horizon Fund?
The Fund is managed by Northern Horizon Capital AS, which is regulated by the Estonian Financial Supervision Authority.
