On 20 December 2017, EUR 3.10 per unit will be paid out to investors. This corresponds to an aggregate amount of roughly EUR 361 million. Since the beginning of the fund liquidation on 7 May 2012 the amount paid out to investors within the thirteen distributions amounts to approximately EUR 4.3 billion. This corresponds to approximately 71 % of the Fund assets as of 5 June 2014, the date when the management mandate was terminated.

Liquidity for the distribution results from the recent sales – in particular from the properties which were sold as part of the pan-European portfolio (news from 15 Mai 2017) – less retentions for deferred tax liabilities, transaction costs and other liabilities, especially liabilities from property sales such as capital gains taxes, warranty claims or other liabilities under purchase contracts.

The payment has a notional effect on the Fund’s unit value on this date, which changes by the amount distributed. The basis of taxation and the tax-free and taxable portions of the distribution in accordance with section 5 of the Investmentsteuergesetz (InvStG – German Investment Tax Act) will be announced on the day of the distribution on the website http://www.savillsim-publikumsfonds.de/en.

The custodian will require time to process the payout, resulting in the amount to be paid out will be credited several bank working days after 20 December 2017.

Further distributions will be carried out, once further properties of SEB ImmoInvest’s portfolio can be sold and risks have declined over time. Sufficient liquidity reserves must be retained to meet all obligations. Retaining liquidity reserves allows the Custodian Bank to provide for potential future claims from tax authorities as well as granted warranties and guarantee claims. At present, SEB ImmoInvest still holds 14 properties, whose sale is being actively pursued. As before, we will inform the investors, as soon as properties are sold. The Custodian Bank decides about the timing and the amount of the next distribution.