On 1 April 2022, EUR 1.40 per unit will be paid out to investors. This corresponds to an aggregate amount of roughly EUR 9.1 million. Since the beginning of the fund liquidation on 5 June 2014 the amount paid out to investors amounts to approximately EUR 603 million. This corresponds to around 77.5 % of the Fund assets as of 5 June 2014, 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 ImmoPortfolio Target Return Fund has not held any properties for some time. The fund still holds one company in Germany without properties, which can only be dissolved in the course of 2023 after the obligations from the property purchase agreements have expired. 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 ImmoPortfolio Target Return Fund on our website at www.savillsim-publikumsfonds.de/en and in the annual liquidation reports.