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Macau Property Opportunities (Ordinary Share) MPO

Property Direct - Asia Pacific

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Estimated NAV


Share Price


Total Returns on £1000 over 

Fund / Benchmark Total returns(%)
Macau Property Opportunities (Ordinary Share) Price -18.64%
Macau Property Opportunities (Ordinary Share) NAV -11.21%
Shanghai Property Index 39.33%
Total Returns on £1000

Discount / Premium Movement

Discount / Premium Movement


Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 114.8 -41.9% 197.00 205.00
31 Mar

Discrete performance % over

Fund / BenchmarkJun '13
May '14
Jun '14
May '15
Jun '15
May '16
Macau Property Opportunities (Ordinary Share) Price71.92-11.33-46.63
Macau Property Opportunities (Ordinary Share) NAV31.701.41-33.52
Shanghai Property Index-12.68169.08-40.70

Discrete performance over

Discrete Performance

Top 10 Holdings

The Waterside One Central 53.68%
Senado Square, Macau 20.26%
The Fountainside 14.23%
Estrada Da Penha 8.89%
One Central, Macau 3.36%

Sectors weighting

Property - Residential 73.70%
Property - Retail 21.30%
Property - Mixed 8.80%
Net Current Assets -3.70%
  • Investment trust info:

  • Sector Property Direct - Asia Pacific
  • Launch Date 05 Jun 2006
  • Currency GBX
  • Domicile Guernsey
  • Share Price 114.00
  • Share Type Ordinary Share
  • ISIN GB00B1436N68
  • Shares Issued (M) 76
  • Market Capital (£M) 87.71
  • Gross Assets (£M) 181.57
  • Net Assets (£M) 150.89
  • TER (%) 3.35
  • Last AGM 13 Nov 2015
  • Next AGM 13 Nov 2016
  • Last Annual Report Date 25 Sep 2015
  • Next due Report Date 31 Dec 2015
  • Next due Report Type I/R
  • Objective:

  • To provide attractive shareholder return through investments in property opportunities, primarily in Macau, with a focus on properties that require refurbishment, redevelopment, change of use or repositioning.
  • Management Group(s):

  • Heritage International FM
  • Sniper Capital Limited
  • Managed by:

  • Martin Tacon Start: 05 Jun 2006
  • Management Contract & Fees:

    The Manager will receive an annual management fee of 2.0% of net assets. The Manager will be entitled to a performance fee of 20% of the excess of the Adjusted NAV per Ord at the end of the relevant performance period over the higher of (i) the basic performance hurdle (an amount equal to the US dollar equivalent of the Placing Price increased at a rate of 10% p.a.) (ii) the Adjusted NAV per Ord at the start of the relevant performance period; and (iii) a high watermark, multiplied by the time weighted average of the Ordinary Shares in issue in the relevant performance period. The contract will continue until the next discontinuation vote in 2016 or 31-Dec-16; whichever is earlier. The Administrator will be paid an annual fee of 0.1% of the NAV, subject to £ 75,000 minimum. The Nominated Adviser will receive an annual fee of £20,000 and will receive a further £20,000 per annum for its role as broker.

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