Global Investments
International Limited
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Financial Consultants, Investment Advisors, Bangkok, Thailand, Asia
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December 2002 - Issue 12 |
Previous
Issues
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The Global Investor is a monthly
newsletter that covers global investment opportunities and
insurance for the expatriate community. This monthly
newsletter's goal is to inform the reader of what can and
cannot be done in the investment arena when living and
working in a foreign country. Whether it's personal
pension plans or disability insurance to protect your income
- Global Investments has the expertise to handle all the
expatriate investors' needs.
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Ladies & Gentlemen, this is not only the last Global
newsletter for 2002, but also our online newsletter's
first anniversary!
2002 has certainly been
challenging for most of us.In the past 30 months the
world has experienced the most difficult stock/equity
market in living memory. Although we now know that the
tech./.com market was "seriously" overvalued,
this together with the tragic events in New York and
Bali and the ongoing Middle East situation just adds to
investor no-confidence and market instability - although
there is always a market opportunity at someone else's
loss!
PREMIER
DIVERSIFIED PROPERTY FUND
This year has also seen
many new and innovative offshore investment
opportunities launched. One of particular interest is
the Premier Diversified Property Fund, which has been
trading since November 1st, 2002. This fund
will prove interesting to anyone that wants to "be
involved" in the UK commercial property rental/lease
market. It is worth bearing in mind that when the retail
UK market bubble bursts - and it will - this fund
will not be as adversely affected, due to forward
commitments of ground rent/lease payments.
Monthly
Fund Performance Report December 2002 - Overview
The Directors are delighted to confirm that the Premier
Diversified Property Fund achieved a successful launch
on November 1st, 2002 and following the
purchase of its first commercial property, can report an
increase in the share price for the first month of
trading.
Having taken the advice of the property specialists, the
Directors have decided to invest in a Regional Training
Centre located in the North West of England and let to
the Halifax Bank plc at an initial yield of 7.4%.
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The lease is full repairing and insuring with upward
only rent reviews, the first of which will be in 2004,
when current indications estimate an increase in rent of
around 10%, making a reversionary yield of 8.2%.
This acquisition fulfills the current property strategy
of acquiring leased commercial properties let to high
quality tenants, on leases with at least 10 years
remaining. |
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Details of this property,
including a colour photograph, can be viewed shortly by
visiting the Funds dedicated web site www.premierdiversifiedpropertyfund.com
and details of further property acquisitions will be
added on a regular basis.
The Property Strategy - General Overview
The initial property investment criteria should enable
the fund to enjoy both the potential of capital growth
and the benefit of strong rental income. The investment
criteria will provide flexibility for dynamic growth and
future adaptation. The broad based portfolio should,
over time, encompass the following sectors:
- Offices
- Retail
- Retail Warehousing
- Industrial
- Other secure property
related assets
Initially, the Fund will
look at purchasing attractive leased commercial
properties without being sector specific and the make up
of the portfolio will then be reviewed once the initial
purchases have been undertaken and a balanced portfolio
will then be pursued.
The initial acquisitions should, wherever possible, be
FRI (Full Repairing and Insuring) leases, modern
properties, that offer attractive yields.
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Only those
that have upward only or reversionary rent reviews would
usually be recommended.
The aim will be to acquire properties with lease terms
in excess of 10 years, although shorter terms will be
considered if on balance, the property is thought to be
an attractive investment proposition. |
Tenants should be financially sound covenants and in the
main, properties will be situated in town centres or
recognised distribution / retail warehouse locations
with good transport links. |
After the core purchases are made, the addition of higher
yielding properties could be considered which may provide
a potentially higher income return to the Fund and overall
lot sizes should be in the region of £ 2
- 5 millions. |
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As the fund develops,
consideration will be given to broadening the range of
property assets to provide additional diversification
and access to alternative property markets. These assets
could be acquired through the purchase of units in
collective investment funds or directly, although to
avoid undue volatility, shares in publicly quoted
property companies will not be considered.
Summary
By diversifying across a broad range of high quality
property assets the Fund hopes to achieve steady growth
over the medium to long term which will be enhanced by
active management. The aim will be to add value at every
opportunity in order to maximise returns for the benefit
of investors. This active management strategy is in
contrast to the approach taken by some larger
institutional fund managers and it is hoped will result
in a property fund that will provide attractive returns
over many years for all investors in the Fund. |
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Finally
we wish you all a happy and peaceful Christmas and a
more prosperous 2003!
Please
contact Global Investments for more information
on Tel. (+66-2) 662-2009
or e-mail at info@globalinvestments.net.
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