SEB ImmoPortfolio Target Return Fund distributes the freely available liquidity to investors in April and October of each year on a regular basis. The Fund has not held any properties for some time. As there has been no significant change in the liquidity and risk situation since the last distribution in April 2021, no distribution can be made in October 2021.
Until the Fund is completely dissolved, sufficient liquidity reserves must be retained in order 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. As risks decline over time and corresponding reserves can be released, further distributions to investors will be carried out. 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. We expect that further reserves can be released at the turn of the year 2021/22 and that the next distribution will be made in April 2022.
Since the beginning of the fund liquidation on 5 June 2014 the amount paid out to investors amounts to approximately EUR 594 million. This corresponds to around 76 % of the Fund assets as of 5 June 2014, the date when the management mandate was terminated.
We will continue to keep you informed about the further course of the liquidation of SEB ImmoPortfolio Target Return Fund on our website at www.savillsim-publikumsfonds.de/en and in the annual liquidation reports.