DEALING SUSPENSION UPDATE
Janus Henderson UK Property PAIF (the Fund) and its Feeder Fund remain suspended for dealing
Since the last formal dealing suspension review in June we have continued to closely monitor market conditions and hold regular discussions with CBRE, the appointed independent valuer of the Janus Henderson UK Property PAIF. CBRE has advised us that material uncertainty no longer applies to the valuation of the fund’s industrial and logistics properties. As a result of this update, the amount of the fund’s portfolio that is no longer subject to material uncertainty is 46.5% (using the end of June valuation).
The Board of Henderson Investment Funds Limited (HIFL), which is the authorised corporate director (ACD) for the fund, has again formally reviewed the current dealing suspension. The Board has agreed with the fund’s depositary that, based on the feedback from CBRE, the Janus Henderson UK Property PAIF (and its Feeder Fund) should remain suspended whilst there continues to be material valuation uncertainty across a large number of the fund’s direct property investments.
The dealing suspension, therefore, remains in place until further notice. The situation will continue to be monitored by the ACD both from a valuation perspective and to ensure that the fund is well placed to meet any redemption requests on reopening. A further update will be provided within the next 28 days, or sooner should the situation change.
The Fund aims to provide a high and increasing level of income as well as capital growth over the long term (5 years or more). The Fund is a dedicated Feeder Fund to the Janus Henderson UK Property PAIF.
The Fund provides exposure to UK commercial real estate by investing (in normal circumstances) solely in the Janus Henderson UK Property PAIF (the Master Fund). The investment returns of the Fund will be very similar to those of the Master Fund, though could differ because the funds are treated differently for tax purposes and because the Fund may not be wholly invested in the Master Fund at all times due to the need to hold cash for administrative purposes (e.g. the payment of fees and distributions).
The Fund may also hold cash.
The investment manager may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently.
The Fund is actively managed with reference to the IA UK Direct Property sector average, which is based on a peer group of broadly similar funds, as this can provide a useful comparator for assessing the Fund’s performance.
The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
This website is for promotional purposes and does not qualify as an investment recommendation.
About the feeder fund
The Janus Henderson UK Property PAIF Feeder Fund is a unit trust for those investors who cannot, or do not wish to, invest directly in the Janus Henderson UK Property PAIF. The Feeder Fund solely invests in shares in the PAIF and should therefore broadly perform in line with the PAIF. Further information on the PAIF, fund literature and manager updates can be found on the main UK Property PAIF fund page.