Net asset value (NAV) of Baltic Horizon Fund (the Fund) unit as at end of May 2020 amounted to 1.3457 EUR per unit. Compared to the previous month, NAV increased by +0.68%. The NAV was affected positively by the operating performance of properties and cash flow hedge movement during the month. EPRA NAV as at the end of May 2020 increased to 1.4355 EUR per unit, corresponding to an increase of +0.61% over the last month. The Fund earned an unaudited consolidated net profit of EUR 924 thousand in May 2020.
The Management Company of the Fund will continue to actively monitor the economic impact of the pandemic and reassess the Fund‘s receivables and potential discounts for tenants. At the end of May 2020, the Fund had a sufficient amount of cash (EUR 5,508 thousand) to cover its liquidity needs amid the COVID-19 pandemic.
The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. Both the Fund and the Management Company are supervised by the Estonian Financial Supervision Authority.
Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com