Investment Strategy

Commercial real estate represents a typical diversification tool for any investment portfolio. Commercial properties in lucrative locations offer attractive value preservation and stable return for a conservative investor. Sub-fund 1 invests only in prime commercial properties. Its focus on the quality of tenants, attractive locations with enhancement potential and real estate meeting the highest requirements for quality and technical standards are the main aspects of the fund investment policy and its value proposition to investors.

The Sub-fund primarily invests in the Czech Republic’s real estate market, potentially Central Europe.

Net average return over 6 % per year.

Performance

Audited net appreciation

2021
9.66 %%
p.a.
2020
6.61 %%
p.a.
2019
7.39 %%
p.a.
2018
8.65 %%
p.a.
2017
5.29 %%
p.a.
2016
3.60 %%
p.a.

Why invest in the Sub-fund?

Carefully chosen assets—the investment company selects only prime assets. Every transaction goes through multiple due diligence levels with a focus on eliminating potential risks. The main aspects for selection are yield, location and the possibility of generating additional value with active property management.

Inflation protection—as the market standard, lease agreements are indexed against inflation. If inflation rises, rental income rises as well.

Diversification—the investment company selects primarily assets across the whole Czech Republic with a mixture of shopping centres, retail markets and office buildings to minimize the economic cycle’s effect.

Value drivers—assets are selected with a focus on three main drivers that influence their value—rental income, yield expectation and the possibility of further development of the project.

Blog

Rok 2021 z pohledu OC Orlice Park: Nižší návštěvnost, zato vyšší obraty

Lokální obchodní centrum Orlice Park v Hradci Králové je v majetku fondu NOVA Real Estate od roku 2015 a prošlo významnou revitalizací v roce 2014, která mu dává nadčasový a svěží design.

Výkonnost fondů Redside v prosinci 2021

Naše fondy zaznamenaly i v prosinci pozitivní výsledek.

Největší nájemce prodloužil smlouvu do roku 2028

Pro naši největší budovu, logistický a průmyslový areál v Trenčíně, se podařilo prodloužit nájemní smlouvu s největším nájemcem (téměř 20 % plochy) až do roku 2028.

Investment projects

How to invest?

Investing in the Sub-fund is designed for both private investors and institutional ones who are willing to accept a long-term investment horizon. That is why an investor should consider his/her liquidity needs even if investments in the Sub-fund may be liquidated.

The minimum amount, under Section 272 ZISIF1, that an investor can invest is EUR 125,000, or CZK 1,000,000 (equivalent of EUR 40,000) after performing a suitability test under Section 15 ZKPT2.

How to Invest

Individual Investors

Investments in the Sub-fund are exclusively intended for persons matching the definition of a qualified investor in compliance with Act No. 240/2013 Coll., on Investment Companies and Investment Funds, so it is necessary to invest at least EUR 125,000 or CZK 1,000,000 (equivalent of EUR 40,000) after performing a suitability test and signing a Declaration of Risk Awareness concerning this type of investment and including investment experience.

Subsequently, investors wishing to make investments fill out the following documents with the fund manager:

+ Agreement on Subscription/Redemption of Investment Shares

+ Request for Issuance of Investment Shares

+ Declaration of Risk Awareness

+ Anti-Money Laundering (AML) Form

+ FATCA documents

Institutional Investors, asset managers and similar financial institutions

You will need to fill out a few subscription documents:

  • Agreement on Subscription/Redemption of Unit Certificates
  • Request for Issuance of Unit Certificates
  • FATCA documents
  • Official list of authorized persons entitled to sign these documents on behalf of the institution/client
  • A copy of documents (e.g. your licence or similar document) that prove that your institution can be considered a professional investor

We will need hard copies of these documents from you by mail. To accelerate the process, please send us scanned copies by e-mail while the hard copies are delivered to us.

Issuance/Redemption

An investor can subscribe investment shares for the actual NAV (Net Asset Value). Every investor must fulfil the conditions under Section 272 ZISIF1—qualified investor—minimum invested capital, risk awareness statement, etc.

Every investor has a right to investment shares in the Sub-fund at the current value. This type of open-ended fund structure provides an investor with great variability in terms of liquidity needs. With the investment company’s permission, an investor can sell the investment shares to a third-party as well.

Basic Data about Sub-fund

*Basic data about NOVA Real Estate - Sub-fund 1*

Fund type Investment fund with variable registered capital
Sub-fund NOVA Real Estate – Sub-fund 1
Investment objective Real estate investments
Investment strategy The Sub-fund is aimed at the premium type of real estate – business centres, office buildings and other investment opportunities related to the real property market.
Equity capital 112 757 thous. EUR (as of 31th July 2020)
Issued security Registered investment shares
Fund Duration From 20 August 2015 for an indefinite period of time
Currency CZK
Minimum investment Minimum initial investment for every single investor of the Sub-fund amounts to EUR 125,000 or CZK 1,000,000 (equivalent 40,000 EUR) after performing a suitability test under Section 15 ZPKT2
Fund Manager REDSIDE Fund Management
Management fee 1,6 % of sub-fund’s NAV, min. 300,000 CZK/month
Performance fee 30 % of annual yield of sub-fund over 6% evaluation of the fund
Depository UniCredit Bank Czech Republic and Slovakia
Auditor PricewaterhouseCoopers Audit, s.r.o.
Supervisory Authority Czech National Bank
Law and accounting system The Czech Republic
Fund taxation 5 % from profit

Risk Profile

With regard to the possible unforeseen fluctuations on real estate markets there could be fluctuations in the value of assets in the Subfund, increases and decreases of such value. In addition, an outage of planned income from renting real estate could lead to a reduction in the value of investment shares, due to lower net income. If it is a longer-term outage of rental income, this fact is reflected in a reduction in the value of the relevant real estate. With regard to the character of the real estate that comprise the fundamental part of the fund’s assets, it is necessary to draw attention to the fact that the liquidation of the real estate with an attempt to achieve the best price is demanding in time terms. In the event it is necessary to sell the real estate assets in a short period of time, there is a risk the expected price will not be achieved. The credit risk could consist, in particular, of entities that have payment obligations to the Subfund (e.g. the tenants of properties, debtors under investment instruments, etc.) not paying their liabilities. An outage of planned rental income could occur at random, where it affects more important property tenants, or it could be related to the overall situation on the market, for example in the case of an economic recession, and in this case it influences the behaviour of a larger quantity of tenants or potential tenants. Some of the real estate in the fund’s portfolio and also some of the rentals resulting from the real estate in the fund’s portfolio are booked in CZK. The fund’s total performance can therefore be influenced also by trends in the EUR/CZK exchange rate. The return on the investment is not hedged.

To determine the total risk indicator, we used available data of comparable investment funds on the Czech market.

The first refinanced acquisition for the real estate portfolio, consisting of three shopping centers located in the Czech Republic, occurred after April 2016. The Sub-fund has started generating returns for its investors.

In August 2016, the Sub-fund acquired four class A office buildings located in main office areas in Prague. The second acquisition helped portfolio diversification and mitigates economic cycles. There will be more acquisitions in the future.

Performance

2021
9.66%%
p.a.
2020
6.61%%
p.a.
2019
7.39%%
p.a.
2018
8.65%%
p.a.
2017
5.29%%
p.a.
2016
3.6%%
p.a.

Current value of the Sub-fund’s investment shares as of 8/2022

CZK  1,3856 CZK
EUR 6,9898 EUR


Performance as of August 2022

1 month:  0.98 %
6 months:  4.00 %
1 year: 10.08 %
YTD:  5.11 %
DateInvestment Share value (EUR)NAV (EUR)
31.8.20226.9898122 841 942
31.7.20226.9223123 090 559
30.6.20226.8803122 493 685
31.5.20226.8391120 493 782
30.4.20226.8044120 787 740
31.3.20226.7755120 806 740
28.2.20226.7210120 272 951
31.1.20226.6956120 881 759
31.12.20216.6502119 701 453
30.11.20216.5042117 050 778
31.10.20216.4398121 542 272
30.9.20216.3978121 113 206
31.8.20216.3498120 541 856
31.7.20216.3080119 544 180
30.6.20216.2668118 652 706
31.5.20216.2237117 717 116
30.4.20216.1825117 161 336
31.3.20216.1434115 926 245
28.2.20216.1115115 366 537
31.1.20216.0915115 521 544
31.12.20206.0644115 054 443
30.11.20205.9579113 742 091
31.10.20205.8976111 119 989
30.9.20205.8769110 360 633
31.8.20205.8979111 630 278
31.7.20205.8760112 757 448
30.6.20205.8503136 283 253
31.5.20205.8227135 379 828
30.4.20205.7913134 253 254
31.3.20205.7677132 048 176
29.2.20205.7433131 426 850
31.1.20205.7158129 688 545

31.12.20195.6883
126 374 925
30.11.20195.6458124 280 867
31.10.20195.6193121 026 227
30.9.20195.5843119 384 438
31.8.20195.5546117 785 561
31.7.20195.5314115 975 866
30.6.20195.5108114 826 482
31.5.20195.5204112 722 741
30.4.20195,4946107 769 166
31.3.20195.4578106 789 132
28.2.20195.4458106 490 312
31.1.20195,4181105 389 524
31.12.20185,408496 166 323
30.11.20185,357294 639 498
31.10.20185,315493 842 052
30.9.20185,293893 552 326
31.8.20185,272093 018 468
31.7.20185,253592 602 686
30.6.20185,204579 909 095
31.5.20185,179879 444 830
30.4.20185,157778 878 961
31.3.20185,120178 267 395
28.2.20185,081577 510 357
31.1.20185,044176 354 454
31.12.20174,977875 351 743
30.11.20174,925247 833 252
31.10.20174,920347 786 031
30.9.20174,900147 589 478
31.8..20174,886647 459 056
31.7.20174,878247 377 275
30.6.20174,864747 245 661
31.5.20174,847847 081 775
30.4.20174,8247*46 656 086*
31.3.20174,758146 011 407
28.2.20174,747745 910 902
31.1.20174,738545 821 857
31.12.20164,727645 713 571
30.11.20164,715445 598 610
31.10.20164,706045 507 329
30.9.20164,693345 384 675
31.8.20164,681045 265 807
31.7.20164,673119 089 572
30.6.20164,658419 029 578
31.5.20164,645218 975 579
30.4.20164,61492 307 467

(*) End-of-year revaluation taken into account.

DateInvestment Share value (CZK)NAV (CZK)
31.8.20221.38563 015 155 473
31.7.20221.37223 029 258 663
30.6.20221.36393 030 493 760
31.5.20221.35572 977 401 361
30.4.20221.34882 971 982 339
31.3.20221.34312 945 872 347
28.2.20221.33233 006 222 417
31.1.20221.32732 945 284 056
31.12.20211.31832 975 778 114
30.11.20211.28942 987 721 105
31.10.20211.27663 123 028 685
30.9.20211.26833 087 781 178
31.8.20211.25883 076 830 870
31.7.20211.25053 048 376 588
30.6.20211.24233 023 864 223
31.5.20211,23382 995 900 603
30.4.20211,22563 032 721 177
31.3.20211.21783 030 891 678
28.2.20211.21153 022 026 425
31.1.20211.20753 005 870 567
31.12.20201.20213 019 603 869
30.11.20201.18102 978 905 373
31.10.20201.16903 028 019 687
30.9.20201.16493 002 912 827
31.8.20201.16912 925 829 584
31.7.20201.16482 951 426 194
30.6.20201.15973 364 214 180
31.5.20201.15423 643 748 066
30.4.20201.14803 637 591 927
31.3.20201.14333 608 216 419
29.2.20201.13853 336 927 714
31.1.20201.13313 269 448 229
31.12.20191.12773 211 186 838
30.11.20191.11933 171 026 316
31.10.20191.11403 087 379 062
30.9.20191.10713 081 909 262
31.8.20191.10123 052 412 804
31.7.20191.09662 975 940 724
30.6.20191.09252 921 759 828
31.5.20191.09442 910 163 013
30.4.20191,08932 765 356 795
31.3.20191.08202 755 159 604
28.2.20191.07962 726 151 984
31.1.20191,07412 714 834 151
31.12.20181,07222 473 878 656
30.11.20181,06212 456 368 167
31.10.20181,05382 432 385 998
30.9.20181,04952 405 698 054
31.8.20181,04522 393 830 262
31.7.20181,04152 370 628 756
30.6.20181,03182 079 234 655
31.5.20181,02692 048 882 154
30.4.20181,02252 014 568 667
31.3.20181,01501 990 339 844
28.2.20181,00741 970 313 264
31.1.20181,00001 929 477 052

(*) End-of-year revaluation taken into account.

The fund invests in the following types of premium commercial real estate:

  • Office buildings in attractive locations in Prague
  • Industrial and logistics complexes
  • Regional retail parks

View key fund projects in two minutes. All invested projects are listed below.

Trenčín Industrial Park

  • Total Leasable Area: 120,000 m2
  • Built in 2011
  • Owned by fund since 2020
  • Location: Trenčín, Slovakia
  • Main Tenants: Adient, AUO, Hella

Trenčín Industrial Park is a regionally dominant industrial property situated in the built-up area of the regional capital of Trenčín. Its flexible arrangement and excellent transport links mean that the building meets the demanding criteria of tenants in both industry and logistics. The park provides a total of 120,000 square metres for rent.

Asset Presentation

Victoria Vyšehrad

  • Total Leasable Area: 5,633 m2
  • Built in: 2008
  • Owned by NRE since: 2016
  • LocationPrague 4
  • Main TenantsWAG, Zimmer Czech, Conteg

This modern property is located in one of Prague’s most prominent office hubs—Prague 4, with a convenient connection to public transit via metro line C and the local infrastructure.

Since its opening in 2008, this class A office building has had a proven track record of full occupancy and high demand from tenants. Victoria was awarded LEED GOLD certification in 2012. The property’s design provides an efficient layout of the premises and the upper floor with terraces, in particular, provides a magnificent panoramic view of Prague.

Asset Presentation 

Orlice Park Shopping

  • Total Leasable Area21,881 m2
  • Built in2002
  • Owned by NRE since2015
  • LocationHradec Králové
  • Main TenantsAhold, Baumax, Sportisimo, Pepco, Teta Drogerie, Bambule

Completed in 2002 and modernized and rebranded, Orlice Park Shopping is a well-established neighborhood shopping destination anchored by an Albert Hypermarket and a popular DIY operator, Baumax. In 2014, the center underwent a substantial refurbishment project improving its attractiveness as a family-oriented shopping destination. The asset is 99% let to a well-diversified tenant base featuring a strong customer flow reaching over two million customers per year.Asset Presentation

Penny Portfolio

  • Total Leasable Area7,800 m2
  • Built in2008 - 2009
  • Owned by NRE since 2017
  • LocationCzech Republic
  • Main TenantsPenny Market

A portfolio of five Penny supermarkets geographically distributed in the central and eastern parts of the Czech Republic. The assets are located in the mid-size towns of Olomouc, Straznice, Jevicko, Ledec nad Sazavou and Pelhrimov. The supermarket operator is accompanied by a butchery and the textile discounter Kik.Asset Presentation

Anděl 16

  • Total Leasable Area6,751 m2
  • Built in2005
  • Owned by NRE since2016
  • LocationPrague 5
  • Main TenantsBNP Paribas

Anděl 16, a modern class A project, is located in one of the most sought-after office locations in Prague–Anděl. Most of this seven-floor building is let to BNP Paribas and serves as a headquarters for their successful consumer finance branch—Cetelem. The Anděl office hub, with its infrastructure and prestige, attracts international corporations mainly from the IT and pharma industries. The property was designed by the D3A architectural studio.Asset Presentation

Rýnovka

  • Total Leasable Area15,400 m2
  • Built in2009
  • Owned by NRE since2015
  • LocationJablonec nad Nisou
  • Main TenantsAhold

Opened in 2009, the Rýnovka asset is fully leased to a global retail operator—Ahold, where the tenant operates a neighborhood shopping mall with their Hypermarket concept. The income is secured by a long-term lease agreement running until the end of 2027. Rýnovka offers generous parking provision with a total capacity of 650 parking spaces.

Asset Presentation

Smichov Gate

  • Total Leasable Area13,275 m2
  • Built in2006
  • Owned by NRE since2017
  • LocationPrague 5
  • Main TenantsHochtief, Cemex

An office building with 11,150 sqm of office and 1,450 sqm of ground floor retail space. Smichov Gate is located at the heart of the modern and dynamic business district Prague 5—Anděl. The location, with its modern infrastructure and distinguished prestige, attracts many international corporations. The main tenants include Hochtief, Cemex and Cardif.Asset Presentation

OBI

  • Total Leasable Area7,300 m2
  • Built in2013
  • Owned by NRE since2017
  • LocationJablonec nad Nisou
  • Main TenantsOBI

OBI, with its 7,300 sqm of DIY shopping area, is located next to the Rynovka shopping gallery, which is also held by the Nova Real Estate fund. With 33 units, OBI is the leading DIY operator in the Czech Republic.

Asset Presentation

Albert Hypermarket – Znojmo

  • Total Leasable Area7,694 m2
  • Built in2004
  • Owned by NRE since2015
  • LocationZnojmo
  • Main TenantsAhold

Opened in 2004, the Znojmo asset is fully leased to a global retail operator—Ahold, where the tenant operates their Hypermarket concept with an attached gallery. The income is secured by a long-term lease agreement running until the end of 2025. The building structure is surrounded by a surface level car park with a capacity of 411 spaces. The parking area is conveniently connected to the local infrastructure.Asset Presentation

Tesco

  • Total Leasable Area13 568 m2
  • Built in2006
  • Owned by NRE since2018
  • LocationČeské Budějovice
  • Main TenantsTesco Stores CR a.s.

The Property is located in the northwest of Ceske Budejovice, the largest city in the South Bohemian Region with a population of around 93,500 inhabitants. The micro-location is a well-established retail amenities area with exhibition grounds nearby, situated along the city’s main traffic artery.Asset Presentation

Anděl 17

  • Total Leasable Area5,414 m2
  • Built in2004
  • Owned by NRE since2016
  • LocationPrague 5
  • Main TenantsGoogle, Pfizer

Anděl 17 is an class A office building completed in 2004 to a very high standard, significantly above normal market levels in all areas such as technology, materials and fit-out. Thanks to these features, the property attracted strong international tenants—Pfizer and Google, who lease most of the building. The ground floor accommodates a restaurant with a terrace which contributes to the wide choice of amenities in the surrounding area. The rectangular premises are capable of offering a fully open plan, cellular offices or a combination of both. The Anděl office hub with its infrastructure and prestige attracts international corporations mainly from the IT and pharma industries. The property was designed by the D3A architectural studio.Asset Presentation

Panorama Business Center

  • Total Leasable Area6,800 m2
  • Built in1999
  • Owned by NRE since2017
  • LocationPrague 2
  • Main TenantsMediterra, Takeda Pharma

The Panorama Business Center is a highly visible office building situated at the beginning of Vinohradská street just behind the National Museum. This interesting location with great transport access attracts international tenants. The property offers 6,800 sqm of modern office and retail space.Asset Presentation

Management

Fund Manager (Real Estate)
Pavel Kadera 

Asset Manager (Real Estate)
Jan Mathy 

Regulation

The Fund is governed pursuant to Act No. 240/2013 Coll., on Investment Companies and Investment Funds, and Act No. 256/2004 Coll., on Business Activities on the Capital Market. Compliance with legislation and particular statutes is supervised by the Czech National Bank.

All investments are overseen by the Fund’s Investment Committee. In addition, the Fund is regulated by the Czech National Bank and the investments are under constant supervision of the financing banks.

Supervision: Czech National Bank (CNB) The fund manager provides a monthly report to the CNB on the fund’s asset structure, including accounts.

Manager: REDSIDE Fund Management It was granted a licence by the CNB to perform management and administration of investment funds. The size of the assets managed exceeded EUR 200 million in 2016.

Depository: UniCredit bank Czech Republic and Slovakia, a.s. It monitors, performs and reports money transactions in compliance with the law and the fund’s statute.

Auditor: PricewaterhouseCoopers Audit, s.r.o. It audits the financial statements and fund’s annual report once a year.

Asset Valuation Officer: from the CNB list Revaluation of the fund is carried out by an Asset Valuation Officer from the CNB list independent of the investment company at least once a year.

More information on security through legislation/government guarantees

  1. Supervision: The Fund is supervised by the Czech National Bank. The Fund is managed by REDSIDE, which provides the CNB (Czech National Bank) with monthly reports on the fund’s asset structure, including accounts. In addition, on a regular basis it sends quarterly reports to European Securities and Market Authority, which involves, above all, setting of internal control mechanisms and risk management.
  2. Professional management of the Fund: the Fund is managed by REDSIDE, Fund Management, which was granted a licence by the Czech National Bank to perform management and administration of investment funds pursuant to Act No. 240/2013 Coll., on Investment Companies and Investment Funds.
  3. Depository: the Fund’s manager is unable to carry out any transactions with the Fund’s financial means. The Fund’s property is in the custody of a depository—a bank with a special licence. Not even the depository is allowed to freely use the Fund’s means (lend, pledge, etc.). This property is kept on a special account that does not follow standard performance of a bank’s operations. The depository also monitors whether the Fund is managed with professionalism and in compliance with the law and the Fund’s Statute. The depository’s main role consists of checking whether the unit certificates are issued properly and redeemed (bought back) pursuant to the law and Fund’s Statute, whether the value of the unit certificates is calculated in compliance with the law and the Statute, the way the Fund’s asset valuation is carried out and whether the assets were acquired in compliance with the law, including checks on incoming and outgoing payments. The Fund’s depository is UniCredit Bank, a.s.
  4. Separation of the Fund’s assets from the investment company’s assets (Chinese wall): the company’s assets are separated from the investment company’s assets. If the investment company goes bankrupt, the assets remain unaffected and are transferred to the management of another company.
  5. Audit: Once a year, an audit of the Fund is carried out by PriceWaterhouseCoopers, which audits the Fund’s financial statements as well as its annual report.
  6. Asset revaluation: Pursuant to the effective legislation, Act No. 240/2013 Coll., on Investment Companies and Investment Funds, and the Fund’s Statute, the Fund is obliged to revalue its assets. The revaluation takes place at least once a year independent of the investment company and is carried out by a valuation officer from the CNB approved list.
  7. Investment limits: The Fund has to adhere to the limits laid down by the law and the Fund’s Statute. This is to prevent the risk of loss as a result of investing great volumes of financial means in one asset. The Fund is obliged to follow the legally binding investment limit per asset value of the Fund up to a maximum of 35% of total fund capital. Fund manager: The Fund manager REDSIDE, Fund Management, cooperates with the investment group Arca Capital in the area of portfolio management.
  8. Fund Manager: REDSIDE Investment Company

Mandatory Information

Yes. You must however make sure and confirm to Redside that the ultimate buyer is aware that Nova Real Estate fund is a fund for qualified investors, i.e. governed by a specific law and with the minimum investment threshold as set out by the law. Investors must in compliance with Czech legislation fill in subscription documentations as follows:

a) Agreement on issuance and redemption of units of qualified investors fund;
b) Request for the issuance of investment certificates;
c) Affidavit of the Investor of the Qualified Investors Fund;
d) AML documentation;
e) Questionnaire regarding investment skills.

The Central Register records all registered securities issued in the Czech Republic, including that of Nova Real Estate Fund. The Central Register is a two-stage register composed of a register kept by the Central Securities Depository and the follow-up records maintained by the so-called CSD Prague participants, i.e. especially securities trading participants.

On the base on above mentioned please take into account that we are able to settle the transaction only if your client has so called asset account with one of the Central Securities Depository Prague participants.

See list of Participants here:

http://www.cdcp.cz/index.php/en/participants-list

Monthly.

There is no deadline, really. A subscription order may be submitted in person at the Investment Company, send via mail (info@redsidefunds.com) or via fax (+420 224 931 368). Shares of the Fund are subscribed for the actual value of share announced always for the period, in which the so-called decisive date occurs, that is the day for subscription of financial means remitted by the fund-holder to the account of the Fund.

The actual value of the unit is determined always as of the last day of the calendar month with validity for the following period, i.e. for September 2016 from the first date of September until the last date of the month. The actual value of the unit of the Fund is determined within 10 business days of the following month, in our example October (upon monthly financial review, as prescribed by the regulator). The actual value of the unit of the Fund is announced within next 15 business days thenafter.

As far as redemption goes, it is always handled with regard to the overall investment. Every investment is redeemed in short period, during days. Greater investments than can jeopardize liquidity of the Fund can take up to one year. Once redemption notice is received, the investment is frozen with zero return until redemption.

If a bank/financial institution is the final client, there is a minimum requirement of 125,000 EUR on an investment. If a private individual invests personally, the minimum investment is 40,000 EUR.

The settlement can be without money or versus money. All we need to agree is the volume to notify the Central Securities Depository that ensures a subscription. It should take longer than a few days, max 10 working days according to the Sub-fund Statutes.

There is no lock-up period and exit fees are charged according to the statute of the fund.

Yes, it is set up for IRR greater than 6%. The performance fee is calculated annually as 30% from the amount of financial means generated by the Fund after taxation in the excess of IRR 6%. Maximum total expense ratio of the Fund including any other costs shall not exceed 1.95 % of the average annual value of the equity capital of the Fund. The temporary internal rate of return - IRR is annually calculated by the same expert who prepared the expert valuation required by law and is audited by the fund auditor.

The performance of the Fund and its return are calculated monthly and the respective financial statements are produced to that effect. No less than once a year every asset in the Fund is revalued by a valuation expert.

The investment strategy is based on investments in special purpose vehicles (SPV) holding the real estate assets. Therefore, the Fund buys various types of assets—retail, offices, industrial—to gradually diversify its portfolio.

As a peripheral type of investments, the Fund will make investments using investment instruments in both the domestic financial market and foreign financial markets, i.e. corporate bonds, corporate bills of exchange, etc.

4

In this case, it is necessary to apply for Redside’s approval because we, as the fund manager, must ensure that the fund’s units are held only by qualified investors (the Czech law must-have condition).

Subscription /redemption and switch notices can be sent every workday till 5 p.m.

EUR 40,000 or EUR equivalent of CZK 1,000,000 if the investor proves awareness of investment skills by completing the investor profile questionnaire. In other cases, the minimum is set at EUR 125,000.

250,000 CZK.

+420 224 931 368

Trading via swift is not allowed.

From the 10th workday in a month.

Amount

Quantity

  • Final beneficiary account number:

CZK account: IBAN CZ5727000000002112088894
EUR account: IBAN CZ9427000000002112088907

  • Bank:

UniCredit Bank Czech Republic and Slovakia, a.s.

BACX CZ PP