On 1 October 2018, EUR 3.50 per unit will be paid out to investors. This corresponds to an aggregate amount of roughly EUR 22.6 million.

Since the beginning of the fund liquidation on 5 June 2014 the amount paid out to investors amounts to approximately EUR 559.9 million. This corresponds to around 72 % of the Fund assets as of 5 June 2014, the date when the management mandate was terminated.

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, further distributions will be carried out, whereby the Custodian Bank decides about the timing and amount of these.

With effect from 1 January 2018 the new investment tax act came into force. In accordance with section 17 of the InvStG 2018, the legislator has created a special regulation for funds in liquidation. Under the new law, distributions of assets from 1 January 2018 will remain tax-free for the SEB ImmoPortfolio Target Return Fund until 31 December 2022. As the fund is in liquidation, no partial exemption applies. Therefore, in the first step, 25 % capital gains tax plus solidarity surcharge will be withheld by the custodian when the distribution is paid out. This withholding is to be reimbursed after the end of the respective year in step 2, if the distributions represent capital repayments. Further details can be found in the questions and answers on the investment tax reform.

The custodian requires time to process the payout, resulting in the amount being credited several bank working days after 1 October 2018. The distribution will affect the Fund’s unit value.