History

Arka BZ WBK Property Market Fund was the first Polish closed-ended investment fund operating in the property market. The certificate subscription took place in May and June 2004. Individual and corporate investors took up the whole available pool (3,500,000) of the Fund’s certificates worth in total PLN 339.5 million. The certificates were sold in tranches:

• Tranche for institutional investors,
• Tranche for individual investors, and
• Special tranche dedicated for chosen institutional investors.

The Fund was registered with the Investment Fund Register on July 9, 2004.

Since August 24, 2004, the Fund’s certificates have been quoted on the Warsaw Stock Exchange. As a result, investors may sell certificates they hold, or purchase more of them.

The process of building the Property Market Portfolio was completed as planned at the end of June 2007.