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Net Asset Value(s)

21 Jul 2008 07:00

RNS Number : 3997Z
Advantage Property Inc Tst (The)Ld
21 July 2008
 



21 July 2008

The Advantage Property Income Trust Limited

("TAP" or the "Company")

Net Asset Value as at 30 June 2008

Net Asset Value

The unaudited net asset value per share of The Advantage Property Income Trust Limited ('TAP') as at 30 June 2008 is 87.6 pence. This represents a decline of 3.9 pence per share or 4.3 per cent from the unaudited net asset value per share as at 31 March 2008 of 91.5 pence.

The net asset value is calculated under International Financial Reporting Standards ("IFRS"). 

The net asset value includes all income to 30 June 2008 and is calculated after deduction of all dividends paid prior to that date. It does not include a provision for the dividend for the quarter to 30 June 2008 which is expected to be paid in August 2008.

Breakdown of NAV movement

Set out below is a breakdown of the change to the unaudited net asset value per share calculated under IFRS over the period from 31 March 2008 to 30 June 2008.

Pence per share

% of opening NAV

Net asset value per share as at 31 March 2008

91.5

Unrealised decrease in valuation of property portfolio (including the effect of gearing)

-4.6

(5.0%)

Realised losses on sales of properties

-0.2

(0.2%)

Decrease in interest rate swap valuation

1.6

1.7%

Movement in revenue reserves

-0.7

(0.8%)

Net asset value per share as at 30 June 2008

87.6

  Property Portfolio Total Return 

The Total Return of the property portfolio over the quarter to 30 June 2008 was -1.4% on an ungeared IPD basis.

Portfolio analysis

% of Portfolio

Income Return %

Capital Growth %

Total Return %

Retail

38.61%

1.5%

-2.9%

-1.4%

Offices

35.84%

1.6%

-2.8%

-1.3%

Industrial

21.57%

1.2%

-3.2%

-2.0%

Leisure

3.98%

1.4%

0.0%

1.4%

All Sectors

100.0%

1.5%

-2.8%

-1.4%

Portfolio return against IPD

We would confirm that the Company's strategy of not investing in Central London due to volatility and diversification implications remains and that this strategy coupled with performance from asset management has continued to show benefits against the market.

Total Returns 

3mths

6mths

12mths

TAP

-1.4

-3.5

-9.8

IPD monthly

-2.7

-6.0

-14.9

The property portfolio will next be valued by an external valuer during September 2008 and the net asset value per share as at 30 September 2008 will be announced in October 2008.

For further information:

Chris Carter KeallValad   020 7659 6666

Jeremy Carey, Tavistock Communications Limited 020 7920 3150

Anson Fund Managers Limited, Secretary 01481 722260

E&OE - in transmission

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
NAVGGGMNMRLGRZM
Date   Source Headline
7th Oct 20097:00 amRNSClosing of Offer
22nd Sep 20093:40 pmRNSIntention to De-List
22nd Sep 20093:40 pmRNSCancellation of listing of TAP Shares
21st Sep 20099:54 amRNSDirectorate Change
11th Sep 20094:24 pmRNSUpdate on TAP Offer acceptance levels
9th Sep 20097:00 amRNSUpdate on TAP Offer acceptance levels
1st Sep 20092:27 pmRNSRule 8.3- Advantage Property Income Trust Ltd
28th Aug 20095:38 pmRNSUpdate on TAP Offer acceptance levels
28th Aug 20092:39 pmRNSHalf Yearly Financial Report
28th Aug 20099:30 amRNSHalf Yearly Financial Report
27th Aug 200912:14 pmRNSRule 8.3- Advantage Property Income Trust
27th Aug 20097:00 amRNSResponse to Conygar Offer
26th Aug 20092:51 pmRNSOffer unconditional in all respects
26th Aug 200912:09 pmPRNRule 8.3 - Advantage Property Income Trust
26th Aug 200912:07 pmPRNRule 8.3 - Advantage Property Income Trust
26th Aug 200912:07 pmPRNRule 8.3 - Advantage Property Income Trust
26th Aug 20099:22 amRNSRule 8.3- Advantage Property Income Trust
25th Aug 20092:13 pmRNSRule 8.3- Advantage Property Income Trust Limited
24th Aug 20094:43 pmRNSResponse to Conygar Offer
24th Aug 20093:17 pmRNSRule 8.3- Advantage Property Income Trust Ltd
24th Aug 200910:56 amRNSRule 8.3- advantage property income trust
21st Aug 20094:46 pmRNSResponse to Conygar Offer
21st Aug 20093:50 pmRNSReplacement: Offer unconditional as to acceptances
21st Aug 20097:00 amRNSCirc re. Response to Conygar Offer
14th Aug 20095:34 pmRNSRule 8.3- Advantage Property
14th Aug 20095:32 pmRNSRule 8.3- Advantage Property
13th Aug 20094:32 pmRNSHolding in Company
11th Aug 20094:40 pmRNSSecond Price Monitoring Extn
11th Aug 20094:35 pmRNSPrice Monitoring Extension
10th Aug 200910:12 amRNSRule 8.3- The Advantage Property Inc Trust
7th Aug 20096:11 pmRNSPosting of Documents
7th Aug 20095:13 pmRNSResponse to offer from Conygar Investment Company
7th Aug 20093:57 pmRNSOffer for The Advantage Property Income Trust Limi
28th Jul 20097:00 amRNSNet Asset Value(s)
9th Jul 20093:00 pmPRNRule 8.1 - Advantage Properties Inc
9th Jul 20092:44 pmPRNRule 8.1 - Advantage Properties Inc
8th Jul 20095:10 pmPRNRule 8.3 - The Advantage Property Income Trust Limited
7th Jul 20094:37 pmRNSRule 8.3- The Advantage Property Income Trust Ltd
7th Jul 20099:42 amRNSAsset Disposals & Debt Repay't
6th Jul 20097:00 amRNSBoard Update re Proposed Offer
30th Jun 20092:14 pmRNSRule 8.3- The Advantage Property Income Trust Ltd
16th Jun 20094:40 pmRNSSecond Price Monitoring Extn
16th Jun 20094:35 pmRNSPrice Monitoring Extension
11th Jun 20094:41 pmRNSSecond Price Monitoring Extn
11th Jun 20094:35 pmRNSPrice Monitoring Extension
3rd Jun 20091:30 pmRNSResults of General Meeting
3rd Jun 200910:31 amRNSAGM Statement
2nd Jun 200912:18 pmRNSRule 8.1- The Advantage Property Income Trust Ltd
2nd Jun 200912:16 pmRNSRule 8.1- The Advantage Property Income Trust Ltd
2nd Jun 20098:10 amRNSRule 8.1- The Advantage Property Income Trust Ltd

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