Investment Policy

The investment policy of Arka BZ WBK Property Market Fund allows for investing primarily in office space (at least 50 percent of the Property Market Portfolio), warehouse and retail property, as well as participating in residential projects. The latter may comprise no more than 25 percent of the Property Market Portfolio.

At the moment, the Fund’s assets include eleven commercial properties owned through SPVs and two residential development projects across Poland implemented via separate SPVs. The Fund also owns four minor, undeveloped commercial lots. The Fund controls properties of the total value over PLN 758 million. (according to valuation from April 30, 2012).

Chart 1. The Structure of Arka BZ WBK Property Market Fund’s Property Market Portfolio as of April 30, 2012.

For a detailed list of Arka BZ WBK Property Market Fund’s investments please see the Portfolio section.

The first three years of the Fund’s operation were mainly dedicated to building of the Property Market Portfolio. Since the Fund’s inception, the certificate book value has increased by over 54% growth (according to an appraisal on April 30, 2012).