Aberdeen Property Fund Denmark P/S (the Fund) is pleased to announce that despite 2008 being a challenging year for property the Fund has reached its financial goals and will distribute a cash dividend of 7.75% on a yearly basis based on nominal share capital equalling DKr 102 million (€13.7 million).
Tonny Nielsen, CEO at Aberdeen Property Investors Denmark A/S commented:
”Aberdeen Property Fund Denmark P/S has been fairly resilient against the downturn of the property market compared to the industry and market as a whole. Since the Fund was launched in 2004 we have pursued a long-term, risk-adjusted investment strategy, which together with our active property management and conservative loan financing have steered the Fund reasonably safely through the ongoing crisis.”
Aberdeen Property Fund Denmark P/S has generated good and stable returns since its launch in 2004. In 2008 the Fund’s total return was 3.9% on property level whereas its benchmark, IPD Dansk Ejendomsindeks, generated a total return of 3.1%.
Tonny Nielsen, CEO at Aberdeen Property Investors Denmark A/S added:
”2008 has been a difficult year and we are pleased with the realised operating profit and the Fund’s high equity ratio of 38%. Our focus for 2009 will be on our core competency, active management of property, and we will continue to expand and strengthen the property portfolio on a very selective basis. In addition, we will ensure to maintain a strong balance sheet and stable cash flow.”
Aberdeen Property Fund Denmark P/S is managed by Aberdeen Property Investors Denmark A/S. The Fund’s property portfolio comprises 47 commercial properties with a total value of DKr 5.4 billion (€725 million).
For further information, please contact:
Tonny Nielsen, CEO, Aberdeen Property Investors Denmark A/S
Telephone: +45 33 44 40 00, e-mail: firstname.lastname@aberdeenpropertyinvestors.com
Georgina Pepys, Maitland
Telephone: 0044 207 379 5151
Aberdeen Property Fund Danmark P/S
Aberdeen Property Fund Denmark P/S invests in commercial properties in Denmark, primarily office properties in the Greater Copenhagen area. The portfolio consists of 47 properties with business tenancies of a total value of approx. DKr 5.4 billion. The group of shareholders comprises 43 investors, inclusive of the General Partner.
The Fund is managed by Aberdeen Property Investors Denmark A/S and is open to subscription at the beginning of each calendar quarter.
Aberdeen Property Investors Danmark A/S
Aberdeen Property Investors is the leading property investment manager in Denmark currently managing some DKK 8,7bn of direct property for our institutional clients through separate accounts and collective funds.
In Aberdeen, active management of property is our core competency. Our value chain includes investment, development, letting administration and active management in close cooperation optimising the yield potential in the properties in our funds.
For the third year in a row, Euromoney awarded Aberdeen the 2008 Liquid Real Estate Awards; Best Investment Manager in Denmark.
Aberdeen Property Investors has 41 dedicated employees in Denmark.
More information: www.aberdeenpropertyinvestors.dk
Aberdeen Property Investors
Aberdeen Property Investors is the dedicated property investment division of Aberdeen Asset Management PLC, a global investment management group listed on the London Stock Exchange, which manages around EUR 114 billion of assets in equities, fixed income and property.
As at 31 December 2008 Aberdeen Property Investors manages some EUR 28 billion of property assets in Europe, Asia and North America through property funds and separate account mandates, making it one of the top 10 global property investment managers.
Clients are solely third party clients and primarily institutional investors, such as life insurers and pension funds. They are served by more than 700 professionals at offices in 11 European countries, as well as in Singapore and Hong Kong.
Our mission is to facilitate domestic and international investment exposure to property by offering a comprehensive range of investment products and services, all supported by a structured investment process and local active management.
More information: www.aberdeenpropertyinvestors.com
Issued and approved by Aberdeen Property Investors UK Limited which is authorised and regulated in the UK by the Financial Services Authority