Key Fund Facts
Baltic Horizon is the first public real estate fund listed on Nasdaq Tallinn exchange. Fund units were admitted to trading on 6 July 2016.
Baltic Horizon Fund units are also listed on Nasdaq Stockholm. The first trading day on Nasdaq Stockholm was on 23 December 2016. This was the first time when a security listed on Nasdaq Tallinn was dual-listed on Nasdaq Stockholm. Baltic Horizon is also the first AIF on the alternative investment funds list of Nasdaq Stockholm.
Baltic Horizon is managed by Northern Horizon Capital AS, a subsidiary of Northern Horizon group. Northern Horizon Capital AS is a licensed AIFM and is supervised by Estonian FSA.
Management Fee
Baltic Horizon aims to achieve a cost effective and comparable to Nordic peers TER (total expense ratio), which represents a total cost involved in managing the fund. Major component of fund management cost is the fund management fee, thus Management Company has imbedded into the Fund Rules a competitive and decreasing fee structure. Management fee is linked to the market capitalization of the tradable units:
- 1,5% from market cap for up to 50 mln EUR
- 1,25% from market cap for market cap between 50-100 mln EUR
- 1,00% from market cap for market cap between 100-200 mln EUR
- 0,75% from market cap for market cap between 200-300 mln EUR
- 0,50% from market cap for market above 300 mln EUR
Success Fee
The success fee is based on AFFO (adjusted funds from operations). The hurdle rate is 8% of AFFO from paid-in capital. The manager is entitled to 20% of the part exceeding the hurdle rate. The success fee is capped and floored at 0,4% from NAV per annum. Positive and negative success fee calculable annually accumulates perpetually. The success fee becomes payable not earlier than in 2020.
Other
Fund Administrator
Swedbank AS
Auditor of the Fund
KPMG Baltics OÜ