– is a private investment company (the Fund) registered with the Astana International Financial Center (AIFC) in form of an Open-Ended Investment Company (OEIC Ltd.)
All information on this page is provided for illustrative purposes only and should in no way be construed as an offer or investment advice.
Parameter | Value |
---|---|
Value date | October of 2024 Oct 1 – Oct 31 |
Value set on as reconciled with the custodian |
12:00PM (GMT+6) October 3, 2024 |
NAV | 3,150.38194* (KZT/share) |
*) NAV per Share data rounded to nearest ten thousandths of the actual amount. Please find the Fund's NAV history here.
The Fund had been incorporated under BIN number 220540900496 on May 26, 2022 by Provident Fiduciary Ltd., a private fund management company (PFL or Fund Manager) holding a license number AFSA–A–LA–2021–0021 from the Astana Financial Services Authority (AFSA – financial services regulator within the AIFC framework). The Fund's incorporation followed the AFSA's Written Consent No. AFSA–T–EC–2022–0076 dated May 18, 2022. The AFSA had reveiwed and taken note of the amendments made to the Fund's Constitution and Offering Materials on August 11, 2023. The Fund had been launched on August 18, 2023.
The Fund is Exempt as per Rule 2.2.(a) of the AIFC Collective Investment Schemes Rules (CIS) – the Units are Offered in the AIFC only by way of a private placement:
(i) to Persons who are Professional Clients; and
(ii) in minimum subscription amounts of US$ 50,000.
The Fund is a class of Specialist Funds as defined in the AIFC CIS Rule 2.4.(b)(iv) – a Real Estate Investment Trust (or REIT), which is a Fund which:
The Fund is to pool shareholders’ funds and invest those pooled funds primarily into operating office properties and other rent income generating real estate assets that accompany office properties, including retail spaces and amenities, hospitality and healthcare facilities, warehouses and distribution properties, data storage, telecom and other infrastructure.
Section | Detail |
---|---|
Objectives | income and growth via investments in office properties and other leasable real estate 1) |
Policy | at least 80% in real property at most 20% in cash and other securities 2) |
Rebalancing | within 6 months |
1) The Fund invests in rental income generating properties with high levels of occupancy, quality tenant mix with sustainable business models, medium to upper brackets of lease rates and long- to medium-term contracts. Properties to be operated by a professional facility management and services company.
The Fund may invest through sale-leaseback transactions with creditworthy counterparties.
Subject to shareholders’ approval the Fund may dispose of selected properties in order to capitalize on appreciation in value of those properties.
2) Excess liquidity of the Fund to be allocated in short-term government debt – bills of the National Bank of Kazakhstan with maturities of 7-, 28- and 91 days.
Section | Detail |
---|---|
Liquidity | real property, representing core assets of the Fund, is relatively illiquid – it might be hard to sell a property within a short period of time without a substantial discount to its estimated value shares of the Fund are illiquid as there is no secondary public market. Redemptions become available after a 3-year lock-up period starting from completion of a one-year first closing. The Fund Manager accepts redemption requests once a month, while settlements may take up to 6 months due to illiquidity of the Fund’s assets |
Considering the illiquid nature of the Fund’s shares and the Fund’s assets, investors should purchase shares of the Fund’s only as a long-term investment and be prepared to hold them for an indefinite period of time.
Shares of the Fund are not freely marketable (there will be no public offering, no trading market, and substantial restrictions on transfer apply) and are suitable only for sophisticated investors for whom an investment in the Fund does not constitute a complete investment program and who fully understand and are willing to assume the risks involved in the Fund’s investment strategy.
There can be no assurance that the Fund will achieve its Investment Objectives or be able to meet redemption requests.
Please refer to the Fund's Constitution and Offering Materials for more comprehensive discussion of the risks associated with investing in shares of the Fund.
Incorporation details | Limit |
---|---|
Name of the Fund | Real Estate Investment Trust ONE Open-Ended Investment Company Ltd. |
Expiry date of the Written Consent | No |
Type of the Investment Company | Private Investment Company |
The address of the principal place | No |
Shareholders | No |
Number of Shareholders | No |
Appointment of the CEO | No |
Appointment of Individual Directors | No |
Number of Individual Directors | No |
Appointment of Body Corporate Directors | No |
Number of Body Corporate Directors | No |
Share Capital | No |
Number of Shares | No |
Classes of Shares | No |
55/20 Mangilik El, AIFC Participants Block C-4.1, Office 325, Astana city, Kazakhstan 010000
landing page | © 2022-2024 fiduciary.kz