DEALING SUSPENSION REVIEW AND UPDATE
Janus Henderson UK Property PAIF (the Fund) and its Feeder Fund remain suspended for dealing - August 2020
Since the last formal dealing suspension review in July, 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 London offices. As a result of this update, the amount of the fund’s portfolio that is no longer subject to material uncertainty is 55.3% (using the end of June valuation).
The Board of Henderson Investment Funds Limited, 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 will be a Property Authorised Investment Fund (PAIF) for tax purposes at all times.
The Fund invests at least 60% of its assets in UK commercial real estate and in shares and bonds of UK companies in the real estate industry.
The Fund may also invest in other assets including cash and bank deposits, money market instruments, non-UK commercial real estate, residential real estate, funds (collective investment schemes including exchange traded funds) and real estate outside of the UK (to a maximum of 20% of its assets).
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 THIS FUND
- Portfolio with a broad mix of high-quality properties across UK regions and sectors, with a South East bias, that are well-placed to benefit from long-term consumer, demographic, and technological trends.
- Focuses on location, tenant strength, lease length, lease structure, building quality, and sustainability considerations.
- Highly experienced investment team with support from more than 500 property specialists.
RATINGS AND AWARDS
Ratings for this fund include: