Investa Second Industrial Trust
Investa Second Industrial Trust (“ISIT”):
- is a real estate fund which holds interests in three industrial buildings throughout Australia.
- was established in June 2002 and is closed to new investment.
- terminates in 2014 unless terminated earlier by us or by operation of the law, or extended by a special resolution of unitholders.
- borrows to invest and fund capital expenditure.
- aims to deliver income returns with the potential for capital growth.
Fund Snapshot
| Item |
Position at 31 March 2010 |
| Fund size (total assets) |
$48.54m |
| Unit pricing |
$1.0435 |
| Distributions |
Quarterly |
| DRP |
Not available |
| Withdrawals |
Not available |
| Management fee |
1.00% pa |
| MER (ex performance fee) |
1.28% p.a. |
| Indirect cost ratio |
2.56% p.a. |
| Total borrowings drawn |
$18.05m |
| Gearing ratio |
37.2% |
| Interest cover |
1.08x |
| Debt maturity date |
July 2010 |
| Number of investors |
567 |