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Malta - Reitway Global Property Portfolio

Overview

This fund has been approved by the Malta Financial Services Authority and an application has been submitted to the South African Financial Services Board for Approval. The fund is regarded as an unregulated fund in South Africa.

Fund Asset Value

USD 6.79 million

Risk profile

Moderate

Minimum Investment

USD 10 000

The investment opportunity

The Reitway Global Property Portfolio, which has been approved by the Malta Financial Services Authority, offers a seamless exposure to a portfolio of distribution-producing global real estate securities. The fund is a Malta domiciled, US dollar-denominated collective investment scheme investing in REITs and property-related securities.

While the securities are largely located in the developed markets of North America, Europe, Australia and Asia, the fund does not exclude exposure to developing economies where compelling investment opportunities present themselves.

Portfolio objectives

The fund’s primary objective is to generate high current income, however investors will reap the inherent benefits of capital appreciation that come with real estate assets. The portfolio may be invested in global real estate securities and property-related securities. The portfolio’s property exposure will always exceed 75%.

Share class hedging

The Reitway Global Property Portfolio offers clients the opportunity to invest in three currency classes being USD, EUR and GBP. All three classes invest in the same portfolio of underlying constituents at all times.

The funds base currency is USD, as this makes up the largest part of the investment universe and percentage of the Fund’s benchmark index. All investment decisions undertaken are done so to maximise the USD returns.

The EUR and GBP share classes make use of a currency hedging strategy at the share class level. This limits the effect of exchange rate fluctuations between the chosen currency and the USD and reduces currency risk.

By investing in a hedged currency class (EUR or GBP) investors essentially gain exposure to the Fund’s USD performance and experience similar returns in the currency of their choice. This enables investors to take advantage of the fund managers’ skills to deliver returns without taking on exposure to the base currency.

Investors would elect to invest in the hedged currency share classes (EUR or GBP) for a number of reasons including:-

  • To diversify currency risk within an offshore portfolio
  • Where the chosen currency is the likely domicile in which expenditure will eventually be made.

Experienced investor requirements

An investor in the fund needs to display a required level of investment experience. The investor must:

  • have worked as a professional in the financial sector for at least one year; or
  • have reasonable experience in the acquisition and disposal of funds of a similar nature, risk profile, or exposure to property; or
  • have carried out investment transactions of a defined size and frequency*

*A guideline to the meaning of "defined size and frequency" is a person with sufficient investment experience and knowledge to weigh the risks and merits of an investment opportunity, who within the past 2 years carried out transactions amounting to at least EUR 50 000 at an average frequency of 3 per quarter.

Only applications that comply with the experienced investor requirements will be considered. Click here to read the full disclaimer:

Benefits

The fund is the essence of diversification and liquid global real estate securities and offers:

  • Attractive yields
  • Geographic, sector and currency diversification
  • Long-term capital appreciation
  • Moderate volatility

Platform / LISP availability

  • Old Mutual International Investment Portfolio
  • Swissquote
  • VP Freedom
 
Inception date:
17 December 2012
Portfolio category:
Global – Real Estate - General
Benchmark:
GPR 250 REIT NET TR Index
Minimum investment size:
USD 10 000 or currency
equivalent

Annual management fee:
1.5%

Performance fees:
No performance fees

Statement Frequency:
Monthly

Investment horizon:
3-5 years

Bloomberg Ticker:
Class B1: REGPB1U:MV
Class C1: REGPC1G:MV
Class D1: REGPD1E:MV
Total Expense Ratio:
Retail: 2.80%
Institutional: 2.29%
ISIN Number:
Class B1:MT7000006623
Class C1:MT7000006649
Class D1:MT7000006664

Valuation time:
24:00 (Malta time)

Transaction time:
12:00 (Malta time)

Custodian:
Bank of Valletta (Malta)
Fund Administrator:
The Investment Data Services Group

Disclaimer
Please note that the Reitway Global Property Portfolio (RGPP) is a sub-fund of The Macro Fund SICAV p.l.c. and is licensed by the Malta Financial Services Authority under the Investment Services Act, Cap 370 of the Laws of Malta as a Professional Investor Fund targeting Qualifying Investors. None of the information or opinions expressed in this article constitute an offer to sell or the solicitation of an offer to buy securities. This material is for information purposes only. The opinions expressed in this article do not constitute investment, tax or other advice and you should consult your professional advisor before you make any decision. The value of currencies, securities or investments and the price of shares which are mentioned in this article may fall as well as rise. Investors may not receive the original amount invested in return. Investors should also be aware that past performance is not necessarily a guide to future performance. All expressions of opinions are subject to change without notice. Performance returns quoted are received un-audited from reliable third party sources; however neither Alpha Asset Management nor any of its subsidiaries, staff or branch offices accepts any liability for the accuracy of these return statistics. Performance quoted is net of costs.  Certain strategies employed may include unregulated investments. RGPP is a sub-fund of The Macro Fund SICAV p.l.c. and is licensed by the Malta Financial Services Authority under the Investment Services Act, Cap 370 of the Laws of Malta as a Professional Investor Fund targeting Qualifying Investors. This fact sheet is to be read in conjunction with the Offering Memorandum and Offering Supplement of RGPP and in particular with the risk factors contained therein. The most recent Offering Memorandum and Offering Supplement of RGPP may be obtained from the Administrator: IDS Fund Services Malta Ltd, Michael Keyrouz, Director, Tel: +356 2546 6770, Fax: +356 2546 6000, Email: is.malta@idsfundservices.com, michael.keyrouz@idsfundservices.com.

Alpha Asset Management is registered with the Financial Services Board as a financial services provider (License No. FSP534 Category II(a)).