Raven Russia (Ordinary Share) RUS

Property Specialist

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Estimated NAV (p)

66.00

Share Price (p)

70.50

Shares

Share Type Yesterday's
Closing Price
Discount / Premium Diluted NAV Gearing Dividend
Est Last
Ordinary Share 63.3p -3.6% 66.00p 61.00p
31 Dec
210% 4.74%

Top 10 Holdings

Krekshino, Moscow 17.33%
Shushari, St. Petersburg 15.37%
Constanta, St Petersburg 9.32%
Istra, Moscow 7.80%
Istra Phase1, Moscow 6.00%
Baltia, Moscow 4.76%
Klimovsk 4.05%
Novosibirsk 3.01%
Southern, Moscow 2.55%
Rostov on Don 2.11%

Sectors weighting

Property - Industrials 83.40%
Net Current Assets 16.60%
  • Investment trust info:

  • Sector Property Specialist
  • Launch Date 29 Jul 2005
  • Base Currency GBX
  • Domicile Guernsey
  • Share Price (p) 70.50
  • Share Type Ordinary Share
  • TIDM RUS
  • ISIN GB00B0D5V538
  • Shares Issued (M) 525
  • Market Capital (£M) 332.26
  • Gross Assets (£M) 810.59
  • Net Assets (£M) 386.32
  • TER (%) 1.97
  • Historic Dividend Yield (%) 4.74
  • Next Dividend Date 25 Nov 2011
  • Next Dividend (p) 1.00
  • Last AGM 16 May 2011
  • Next AGM 16 May 2012
  • Last Annual Report Date 31 Dec 2010
  • Next due Report Date 30 Jun 2011
  • Next due Report Type I/R
  • Objective:

  • To generate an attractive rate of return through investments in the Russian property market.
  • Management Group(s):

  • Raven Russia Property Management Limited
  • Managed by:

  • Anton Bilton Start: 29 Jul 2005
  • Bim Sandhu Start: 29 Jul 2005
  • Director Managed Start: 29 Jul 2005
  • Glynn Hirsch Start: 29 Jul 2005
  • Management Contract & Fees:

    The Company has entered into the Property Advisor Agreement with Raven Russia Property Management Limited. The Property Advisor will receive an annual management fee equal to 2% of the ongoing gross asset value of the Group from time to time. The performance fee becomes payable once the annualised total return in any accounting period exceeds 12%. Once this threshold is exceeded the Property Advisor is entitled to receive a fee equal to a proportion of such excess, rising from 20% to 35% on a straight line basis for annualised total returns in any accounting period ranging from 12% to in excess of 25%. The performance fee is to be settled as to 30% in cash and the balance in Ordinary Shares (valued by reference to the average middle market closing price of Ordinary Share over the last 20 trading days in the accounting period in relation to which the performance fee is being paid). The Property Advisor Agreement is to run for an initial 5 year term and can be terminated on the 4th anniversary of Admission with effect from the 5th anniversary of Admission. If an agreement is not concluded by the end of year 4 the Property Advisor Agreement will be terminable on 12 months notice, expiring no earlier than the 5th anniversary of Admission. The administrator will be paid a fixed fee of GBP125,000 p.a. The Administration Agreement is terminable by either party on not less than 90 days notice. All fees are exclusive of VAT or any similar taxes (where appropriate).

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