Company Summary
|
Description |
Closed-ended Guernsey Company |
|---|---|
|
Admission to LSE |
4 June 2007 |
|
Domicile |
Guernsey |
|
Shares in issue |
35.95 million |
|
Debt |
Target of 65% |
|
Manager |
Matrix Property Fund Management (Guernsey) Limited, authorised and regulated by the Financial Services Authority |
|
Board |
Crispian Collins, Stephen Coe, Jan van der Vlist |
|
Investment Adviser |
Matrix Property Fund Management LLP |
|
Performance Fee |
20% of total shareholder return above 10% hurdle (subject to high watermark starting 31 December 2008) |
|
Distribution Policy |
Half-yearly |
|
Adjusted NAV per share |
293p (as at 31 December 2009) |
|
Portfolio |
Real estate |
Company Summary
The Company is an investment company with limited liability, incorporated and registered in Guernsey as an open-ended company on 21 December 2005 for the purpose of investing in European commercial real estate. The Company became a closed-ended Company on 25 April 2007 and was admitted to the Official List of the UKLA and to trading on the London Stock Exchange on 4 June 2007.
Investment Objective and Policy
The Company’s objectives are to provide shareholders with an attractive level of income return, together with the potential for income and capital growth, through investment in European Commercial Property.
Management Fees and Expenses
The total expense ratio is estimated to be 0.75 percent per annum of Gross Asset Value, including management fees of 0.15 percent of Gross Asset Value payable quarterly to the Manager, and other expected external costs of administration. The estimate could vary for bid and investigation costs beyond the anticipated level.
The Manager is entitled to earn an acquisition fee of 1 per cent. The Manager is also entitled to an annual performance incentive fee of 20 percent of Total Shareholder Return in excess of a hurdle of 10 percent, subject to a high watermark starting on 31 December 2008.