On 1 July 2020, EUR 0.65 per unit will be distributed to investors as part of the regular semi-annually distributions. This corresponds to a total of around EUR 75.8 million. With the 17th distribution since the announcement of the dissolution of the fund, the amount paid out during the liquidation period totals EUR 4.9 billion, or around 81.6 % of the fund assets, upon termination of the management mandate in May 2012.
The liquidity for the distribution comes from the latest transactions and from a release of available liquidity. Over time, the risk from the numerous past sales decreases, tax claims expire, and property companies can be dissolved. This liquidity is then distributed to the investors.
The respective investor’s custodian will need time to process the pay-out so that the distributed amount will not be credited until a few bank working days after 1 July 2020. The pay-out has a mathematical effect on the unit value of the fund in the value of the distributed amount.
Further distributions can be made as soon as more properties from SEB ImmoInvest's portfolio are sold and the risks arising inter alia from the sales are reduced over time, so that liquidity reserves can be released. The custodian bank must maintain current liquidity reserves for any additional claims in particular by the tax authorities, warranty and guarantee obligations. SEB ImmoInvest currently holds 2 properties in Germany. As in the past, investors will be informed about sales accordingly. The timing and amount of the distributions will be determined by the custodian bank.