TMW Immobilien Weltfonds Open-ended public real estate fund€¦ · on February 20th, 2009. The...

transcript

06/01/05 09/30/05 03/31/06 09/30/06 03/31/07 09/30/07 03/31/08 09/30/08 02/28/09

Fact Sheet as of February 28th, 2009

Fund Data

Name of the fund: TMWImmobilienWeltfonds

Investment company: TMWPramericaPropertyInvestmentGmbH

Fund type: Open-endedpublicrealestatefund

WKN (German security identification number): A0DJ32

ISIN: DE000A0DJ328

Investment strategy: Open-endedpublicrealestatefund,whichinvestsworldwideaccordingtotheprinciplesofriskdiversification

Fund currency: Euro

Fund launched on: June1st,2005

Term: Unlimited

Financial year: FromOctober1sttoSeptember30th

Dividend distribution: SecondWednesdayinJanuaryofeachyear

Tax free portion of the distribution on January 14th, 2009 about 2.29 EUR: approx.56.33%

Subscription surcharge: Upto5.5%(currently:5.0%)

Minimum investment: 1unit

Total Expense Ratio (TER) 1: 0.86%

Fund fees 2:Annual asset management fee: Upto1.5%p.a.(currently:0.75%p.a.)

oftheaveragenetassetvalueofthefundIncentive fee: Upto0.1%p.a.ofthenetassetvalueofthefundattheendofthefinancial

year,iftheperformanceoftheTMWImmobilienWeltfondsexceeds6%accordingtotheBVImethod

Acquisition, sales, construction, project management fee: Upto2%ofthepurchasepriceorupto2%ofthebuilding/conversionexpenses(constructionandconstructionsoftcosts,inprojectdevelopmentsincludingpropertypurchaseprice)

Depository bank fee: Upto0.025%p.a.ofthenetassetvalueofthefundplusVAT,atleast45,000EURplusVAT

1)TheTERiscalculatedbydividingthetotalcostsofthefundbythefund‘saveragenetassetvaluewithinthefinancialyearandisdenotedasapercentageasofSeptember30th,2008.Totalcostsincludeassetmangementfees,depositorybankfeesandotherexpensespursuantto§13Abs.5BVBandexcludetransactioncosts.

2)FeestobepaidbytheFundtotheinvestmentcompanyandtothedepositorybank.

Theinformationinthisfactsheetwascompileddiligentlyandtothebestofourknowledge.However,noliabilityisacceptedforerrorsoromissions.Theofficialsalesprospectusandtheannualreportaretheonlylegallybindingdocumentsforthepurchaseoffundunits.Theperformancewascalculatedbasedontherepurchasepriceundthere-investmentofdistributions.Previousperformanceisnoguaranteeforfutureperformance.AllcalculationsweredoneinEuros.Pleasenotethisbrochureisonlyforadvertisingpurposes.

SUBSCRIPTIONFOREUROPEANRESIDENTSONLY

TMW Immobilien WeltfondsOpen-ended public real estate fund

TMWPramericaPropertyInvestmentGmbHWittelsbacherplatz1,80333MunichFon:+4989/28645-0,Fax:+4989/28645-140E-Mail:vertrieb@weltfonds.deInternet:www.weltfonds.dePublicationunitprice:F.A.Z.,Handelsblatt,Welt,FinancialTimes

Performance (BVI method) from June 1st, 2005 up to February 28th, 2009

Assets of the TMW Immobilien Weltfonds as of: February 28th, 2009

TotalsinthistablearedisplayedinEuros(000’s) TotalInternational

Properties (residential,commercial,mixed-useproperties): 615,659 706,529Properties under construction: 35,838 147,021Undeveloped land: 0 0Investments in real estate companies: 260,260 260,260Reserved funds for purchases and planned construction: 28,606

Securities and bank deposits: 187,217–thereofinvestmentfunds: 0

–thereofmoneymarketfunds: 0

Less funds tied up–fundsreservedfordistribution: –17,757

–fundsreservedforoperating: –6,487

–fundsreservedtocoverliabilitiesoutoflegallybindingpropertyacquisitionsanddevelopmentcontracts,iftheseliabilitiesareduewithinthenexttwoyears1:

–50,894

= Liquidity, liquidity ratio: 11.3% 112,079

Other assets: 92,949

Net asset value of the fund at the end of the reporting period: 991,597

Portfolio Information as of: February 28th, 2009

Total property assets (includinginvestmentsinrealestatecompanies): 1,338,046,864 EUR

Total bank loans: 532,460,646 EUR

Total shareholder loans: 52,705,468 EUR

Loan to value ratio (basedonfairmarketvalues): 39.8 %

Investment ratio (grossassetvaluetonetassetvalueratio): 153.7 %

Occupancy 99.2 %

Issue Price and Repurchase Price as of: February 28th, 2009 Issue price: 55.93 EUR

Unit value/repurchase price: 53.27 EUR

Unit profits: 3.68 %

Real estate profits: 2.08 %

Interim profits: 0.18 EUR

Net asset value of the fund: 991,596,591.63 EUR

Shares issued: 18,614,065 units

Performance (BVI method)

Since launch of fund onJune1st,2005: 21.6 %

12 months (02/29/2008–02/28/2009): 5.0 %

6 months (08/30/2008–02/28/2009): 2.5 %

3 months (11/30/2008–02/28/2009): 1.2 %

1 month (01/31/2009–02/28/2009): 0.8 %

Current calendar year (12/31/2008–02/28/2009): 1.2 %

TMW Immobilien Weltfonds

1)Thisincludesreservedfundsforpurchasesandplannedconstruction.

Transaction of Shares in: February 2009

Contributions: 227 EUR

Withdrawals: 0.00 EUR

Net cash inflow: 227 EUR

Net cash inflow to net asset value ratio: 0.02 %

morethan20years:4.8%1property

15<=20years:5.2%2properties

<=5years:34.6%7properties

Housing:0.3%

Hotel:0.0%

Industrial(StorageHalls):3.7%

Retail/F&B:13.0%

Leisure:3.8%

Parking:3.5%

Others:1.0%

Office:74.6%

100<=150mEUR:11.9%1properties

160,000,000 EUR

140,000,000 EUR

120,000,000 EUR

100,000,000 EUR

80,000,000 EUR

60,000,000 EUR

40,000,000 EUR

20,000,000 EUR

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018+2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018+

27.925.9

4.96.9

3.84.9

0.0 0.0 0.0 0.0

Germany 4properties 15.4% Netherlands 4properties 14.0% France 3properties 12.2% USA 4properties 11.7% Switzerland 2properties 10.2% UK 1property 6.8% Japan 2properties 6.4% Canada 2properties 6.2% Italy 1property 5.2% Argentina 1property 4.4% Poland 2properties 3.4% Finland 1property 2.4% Portugal 1property 1.3% Chile 1property 0.4%

TMW Immobilien Weltfonds as of December 31st, 2008 1

1)Chartsareupdatedonathreemonthbasis.InvestmentsinrealestatecompaniesareincludedbasedontheproratashareheldbytheFund.2)Totalcreditvolume508,068,616EUR.

Country Allocation of Fund Propertiesincludinginvestmentsinrealestatecompanies(basedonfairmarketvalues)

Sector Allocation of Fund Propertiesincludinginvestmentsinrealestatecompanies(basedonannualnetrentalincome)

Commercial Age Structure of Fund Propertiesincludinginvestmentsinrealestatecompanies(basedonfairmarketvalues)

Asset Size of Fund Propertiesincludinginvestmentsinrealestatecompanies(basedonfairmarketvalues)

Fixed interest rate and credit expiration scheduleaspercentageofcreditvolume2

Fixedinterestrateexpirationschedule Creditexpirationschedule

Theregularre-appraisaloftheofficetower„TourVista“inParisresultedina0.08%increaseinvalueto126.1millionEURduetohigherrentalincome.

Theofficeproject„KrommeSchaft“inHouton,theNetherlandswascompletedonFebruary20th,2009.Thebuildingisfullyleasedfor12yearstoGetronicsPinkRoccadeB.V.,adaughtercompanyofthetelecommunicationfirmRoyalKPNN.V.

TheFundwasratedA+bytheratingagencyScopeandmadeitamongthetopfivegloballyinvestingopenendrealestatefundsinGermany.

TheFundhaschangedtothenewinvestmentlaweffectiveonFebruary15th,2009.

unlimited 1.0%2008 0.4%2009 4.9%2010 13.7%2011 10.1%2012 7.9%2013 14.5%2014 3.0%2015 6.0%2016 13.7%2017 8.1%2018+ 16.8%

Roll-over-Schedule (based on annual net rental income) Occupancy: 99.2% 3

Branche in%

legalandtaxadvisory 17.3

authorities,organisationsandinstitutionsofeducation 16.4

technologyandsoftware 14.4

automotiveandtransport 11.5

creditinstitutionsandfinancialservices 9.3

retailandconsumerproducts 8.6

mediaandentertainment 4.2

telecommunicationandsupply 4.1

construction(realestate) 1.7

hotelandgastronomy 0.4

residential 0.2

otherbranches 12.0

Industry structure of the top three tenants2 of all TMW Immobilien Weltfonds properties

TMW Immobilien Weltfonds as of December 31st, 2008 1

1)Chartsareupdatedonathreemonthbasis.InvestmentsinrealestatecompaniesareincludedbasedontheproratashareheldbytheFund.2)Therentalincomeofthetopthreetenants(perproperty)correspondsto78.1%oftheannualnetrentalincomeoftheTMWImmobilienWeltfonds.3)Basedonannualgrossrentalincome

Overview of the top ten tenants(basedonannualnetrentalincome)

Tenant Property Branch Annualnetrentalincomeaspercen-

tageoftheportfolio

1. OrbitalSciencesCorp. Loudoun(CampusI,II&III),USA technologyandsoftware 7.13

2. ReedExpositionsFranceSAS TourVista,France otherbranches 5.93

3. GemeenteRotterdam Europoint,Netherlands authorities,organisationsandinstitutionsofeducation

4. Eurogroup TourVista,France legalandtaxadvisory 5.33

5. RabenPolskaSpzoo Gadki/GrodziskMazowiecki,Poland automotiveandtransport 4.49

6. DeloitteSE CrystalTower,Netherlands legalandtaxadvisory 4.37

7. EtatdeGenève,Directiondesbâtiments CentreAzur,Switzerland authorities,organisationsandinstitutionsofeducation

8. DeutscheBahnAG Karlstraße,Germany automotiveandtransport 3.65

9. BarneysJapanK.K. Yamashita-cho,Japan retailandcosumerproducts 3.26

10. LGTHoldingInternationalAG Schützenstraße,Switzerland creditinstitutionsandfinancialservices 3.20

TMW Immobilien Weltfonds Open-ended public real estate fund€¦ · on February 20th, 2009. The...

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