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June 2004 - Issue 30 |
Previous Issues
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The Global Investor is a monthly
newsletter that covers global investment opportunities and
insurance for the expatriate community. This monthly
newsletter's goal is to inform the reader of what can and
cannot be done in the investment arena when living and
working in a foreign country. Whether it's personal
pension plans or disability insurance to protect your income
- Global Investments has the expertise to handle all the
expatriate investors' needs.
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Well, last month was certainly
challenging.. India and China were front page
news at the beginning of May, for different
reasons, but both there economies appear to have
settled down now.
The price of Brent Oil soared last week, even
after OPEC promised an increase in their output
ceiling of more than 10%. The equity markets did
not initially react very kindly to this news,
although they had calmed down somewhat by the
end of the week and oil prices finally started
to fall.
Precious metals were also down, led by Gold as
is failed to make USD 400 an ounce, which was
rumored earlier in the week. This was due to
events on the foreign exchange market.
The UK property market remains strong,
especially residential and commercial sales in
London and the South East. Below are details of The Glanmore Property Fund, which is
performing consistently well.
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THE
GLANMORE PROPERTY FUND
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Aims
& Attributes
- Provide
investment opportunity in higher yielding
sector of UK commercial property market;
- Access to low
volatility asset class not correlated with
bonds or equities: Offering diversification;
- Modest gearing
(maximum 1:1.22) where this allows clear
shareholder yield and growth benefit;
- Achieve
approx. 5% annual yield, with capital
growth;
- Based in
Guernsey, listed on Irish Stock Exchange;
- Eligible
investment for SIPPs and SSASs.
Fund
Information
Price
Data - 1st May, 2004
Performance
History
Recent
Acquisitions
- Dumfries -
The Loreburne Shopping Centre is a prime
covered development totalling over 90,000 sq
ft comprising 38 retail units, in the centre
of the town. The units are mainly let to
national covenants, producing a current income
of £ 1.610 m p.a. The net initial yield is
5.88%, set to increase following forthcoming
rent reviews.
- Trowbridge -
Three modern pavilion style office buildings
totalling 79,869 sq ft together with a car
park having potential for further office
development let on 4 leases to a subsidiary of
Virgin producing a current income of £
883,765 p.a. The gross purchase price was £
10.965 m, giving an initial yield of 7.75%.
Recent
Disposals
This month the fund has sold three properties
for a total of £ 11.76 m against acquisition
costs of £ 10.17 m, realising a net gain of £
1.38 m. The properties comprised an office in
Nuneaton let to the Secretary of State, an
office building in Newcastle let to BT and a
single shop in Romford.
Property
Portfolio Information
- Number of
properties: 77
- Latest
independent valuation (30/04/04): £ 352.060
m
- Property yield
on gross cost: 7.46%
Company
Information
For more
information please see www.glanmore.com.
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This fact sheet is issued in connection with The
Glanmore Property Fund Limited (regulated by the
Guernsey Financial Services Commission) by
Tilney Investment Management (authorised and
regulated by the Financial Services Authority).
This fact sheet is for information purposes and
is not an invitation to purchase shares in the
Fund. An investment in the Fund should be made
solely on the basis of the prospectus relating
to the Fund which you should read in full. A
prospectus can be obtained from the contacts
named above.
Please remember past performance is not
necessarily a guide to future performance. You
should note that the value of, and income from,
an investment in the Fund may fall as well as
rise. Investors may not receive the whole amount
they originally invested.
An investment in the Fund may not be suitable
for everyone. If in doubt you should seek advice
from your investment manager.
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Please
contact Global Investments for more information
on Tel. (+66-2) 662-2009 or e-mail at info@globalinv.org.
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