Summary
Fondo Polis: summary as of 31 December 2011
| Characteristics of the fund | Closed-end real estate investment fund | |
| Initial asset value | €258 million | |
| Number of units | 129.000 | |
| Fund duration | 12 years | |
| Units placement period | from 14 February to 20 May 2000 | |
| Start of operations | 18 June 2000 | |
| Value per unit upon placement (18/06/2000) | €2,000.00 | |
| Book value per unit on 31 December 2011 | €2,055.630 | |
| Fund net asset value on 31 December 2011 | €265,176,319.00 | The performance shown is an estimate calculated by independent appraisers. |
| Compound annual yield | 3,51% | |
| Earnings distributed in March 2011 | €40.00 | |
| Earnings distributed in March 2010 | €45.00 | |
| Earnings distributed in March 2009 | €80.00 | |
| Earnings distributed in March 2008 | €80.00 | |
| Earnings distributed in March 2007 | €80.00 | |
| Earnings distributed in March 2006 | €110.90 | |
| Earnings distributed in March 2005 | €160.00 | |
| Earnings distributed in March 2004 | €80.00 | |
| Earnings distributed in March 2003 | €60.00 | |
| Fund property portfolio as appraised by independent experts as of 31 December 2011 | €280,900,000.00 | |
| Trading | Milan stock exchange – since 19 April 2001 Screen-based fund market (Mercato Telematico Fondi, or MTF-ETF) segment of the Mercato Telematico Azionario (MTA) market |
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| Possibility for divestment prior to fund maturity | The fund has a medium to long-term investment time horizon, as do all real estate investments, but it is possible to trade the shares on the stock market prior to the fund’s natural maturity as a way of withdrawing from the fund prior to maturity. | |
| Type of investors | Investors who wish to properly diversify their portfolios by investing moderate amounts of capital and who have low propensities for risk and medium to long-term earnings objectives | |
| Type of investments | (Italy, International) High-quality real estate for business or commercial use, as well as logistics centers or hospitality properties. Highly liquid financial instruments. Controlling interests in unlisted real estate companies |
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| Target yield (upon fund maturity) |
The fund’s management company has set an earnings target of 5% upon fund maturity and will receive a performance commission only in the event such target yield is achieved. | |