EfTEN United Property Fund Reports Steady Growth in NAV
EfTEN United Property Fund's Net Asset Value Summary
The EfTEN United Property Fund has demonstrated a positive growth trend, with its net asset value (NAV) reaching an impressive 11.53 euros at the close of April. This reflects a monthly increase of 1.6%. Over the course of April alone, the fund achieved a remarkable net profit of 449 thousand euros, bringing the cumulative profit for the first four months of the year to 1.15 million euros. This shows a significant increase compared to the previous year’s profit of 331 thousand euros during the same period. If we were to evaluate the fund's investment in EfTEN Real Estate Fund AS shares based on its net asset value, the NAV would stand at 11.58 euros, marking an increase of 1.4% for the month.
Investment Performance and Profits
April was notably successful for the fund, particularly with a significant return of 274 thousand euros coming from its investment in the development company Invego Uus-Järveküla OÜ. The completed second stage of this residential development allowed for the transfer of the last terraced houses to clients, generating an impressive profit of 342 thousand euros. Looking ahead, the next phase of 17 terraced houses is scheduled for completion around June 2025, with 14 already booked by clients.
Financial Position in April
The cash balance for the EfTEN United Property Fund experienced an increase, totaling 1.582 million euros in April. This includes the payments of loans and interests owed to Invego Uus-Järveküla OÜ, amounting to 1.5 million euros, alongside the receipt of dividends amounting to 277 thousand euros. Notably, the fund successfully repaid the entirety of the bank's overdraft, totaling 167 thousand euros.
Upcoming Income Distribution Announcement
On May 29, the fund is set to announce the largest income distribution in its history, amounting to 1.416 million euros, or 57 euro cents per fund unit. This distribution marks a key milestone for the fund and highlights its commitment to delivering value to its investors.
Contact Information
For further insights into EfTEN United Property Fund's portfolio and performance, you can reach out to:
Kristjan Tamla
Managing Director
Phone: 655 9515
Email: kristjan.tamla@eften.ee
Frequently Asked Questions
What is the current net asset value of EfTEN United Property Fund?
The net asset value is currently 11.53 euros, with a monthly increase of 1.6%.
How much profit did the fund make in April?
The fund earned a net profit of 449 thousand euros in April alone.
What investments contributed to the fund's profits?
The largest profit came from the investment in Invego Uus-Järveküla OÜ, totaling 274 thousand euros.
When is the next income distribution planned?
The next income distribution is scheduled for May 29, amounting to 1.416 million euros.
Who can I contact for more information about the fund?
You can reach Kristjan Tamla, Managing Director, at 655 9515 or via email at kristjan.tamla@eften.ee.
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