Performance of Redside funds in October 2021

Our funds also recorded a positive result in October.

Performance of Redside funds in October 2021

The NOVA Real Estate real estate fund is returning to normal in the area of ​​retail. In terms of attendance, shopping centers lag behind previous years, but the turnover of selected retail segments is relatively good. Thanks to the robust composition of tenants, the aggregate turnover of stores in OC Orlice Park is 5.5% higher from the beginning of the year to the end of October compared to 2020. Compared to 2019, this is even an increase of 18.4%. In terms of attendance, 2021 shows a decrease of 3.3% compared to 2020 and 7.8% compared to 2019. We see that the average shopping cart is growing significantly, which we attribute to a change in the behavior of visitors to the center (less often larger purchases) as well as rising inflation, which affects the price of goods and services.

In cooperation with the NOVA Green Energy sister fund, we are completing preparatory work for submitting an application for the construction of a photovoltaic power plant on the roof of the Orlice shopping center in Hradec Králové with an output of 0.5 MWh. We expect feedback within 2 weeks of submitting your application

In October 2021, the NOVA Green Energy fund appreciated by 0.42%, reaching an overall appreciation of + 3.90% since the beginning of the year, and thus continues in terms of the foundation of individual energy sources on a gradual growth trajectory. In September, on which the October valuation is based, the exposure was slightly above average due to favorable weather, reaching a result of 13% above the audit. Cumulatively for the first nine months of this year, the exposure reaches the average energy audit. Biogas plants continue to face both rising input costs and other operating costs. We are resolving the situation intensively with the management of biogas plants and the financing bank, one biogas plant is in restructuring, the fate of the other two will be known by the end of the year. The biomass heating plant in Krnč was slightly below its expected average.

The largest photovoltaic project in Csabrendek, Hungary, with an output of 28.5 MW was successfully connected to the distribution network at the end of October and the first invoicing took place; the last works leading to the takeover of the work are currently being completed.

You can read more in the October reports of individual funds.

Reportig NOVA Green Energy 

Reporting NOVA Real Estate