On 1 April 2022, EUR 40.00 per unit will be paid out to investors. This corresponds to an aggregate amount of roughly EUR 11.4 million. Since the beginning of the fund liquidation on 5 December 2013 the amount paid out to investors amounts to approximately EUR 163.8 million. This corresponds to around 63 % of the Fund assets as of 5 December 2013, the date when the management mandate was terminated.
As tax and warranty risks expired at the end of 2021, it was possible to reduce the necessary risk provisioning by releasing reserves – thus freeing up liquidity for the distribution to investors.
The custodian requires time to process the payout, resulting in the amount being credited several bank working days after 1 April 2022. The distribution will affect the Fund’s unit value.
SEB Global Property Fund has not held any properties for some time. The portfolio still includes a company without properties, which can be liquidated after expiry of the obligations from the property purchase agreement – probably in 2023. Since many risks expire at the end of a calendar year and are reassessed accordingly, distributions can probably only be made once a year in April in the future. Provided that further risk retentions can be released at the turn of the year 2022/23, the next distribution is then expected to take place in April 2023.
We will continue to keep you informed about the further course of the liquidation of SEB Global Property Fund on our website at www.savillsim-publikumsfonds.de/en and in the annual liquidation reports.