semi-annual report 30 Sep 2008 - SEB Asset Management

Fund assets EUR 6,733.3 million
Total property assets (market values) EUR 6,933.4 million
thereof held directly EUR 3,798.7 million
thereof held via real estate companies EUR 3,134.7 million
Total Fund properties 139
thereof held via real estate companies 43
Changes during the period under review 1 April 2008 – 30 September 2008
Purchases 1) 2
Additions 7
Letting rate (estimated gross rental) 2) 92.6%
Letting rate (estimated net rental) 93.1%
Net outflow of funds in the period under review 1 April 2008 – 30 September 2008 EUR – 140.0 million
Distribution on 1 July 2008 EUR 308.4 million
Distribution per unit EUR 2.50
income tax-free portion held as private assets EUR 0.8490
portion liable to income tax held as private assets EUR 1.6510
Total property return 3) for the first half of the financial year 3.8%
Liquidity return 4) for the first half of the financial year – 0.7%
Investment performance 5) for the first half of the financial year 2.5%
Investment performance 5) for one year 4.9%
Investment performance 5) since Fund launch 211.1%
Unit value/redemption price EUR 55.68
Issuing price EUR 58.60
Total Expense Ratio (TER) 6) 0.60%
1) Purchases comprise properties for which purchase contracts were signed during the period under review, regardless of whether these properties were also added
to the Fund during this reporting period.
2) The estimated gross rental corresponds to the estimated net rental plus incidental expenses.
3) Based on the Fund’s average directly and indirectly held property assets financed by equity
4) Based on the Fund’s average liquid assets
5) Calculated according to the BVI method
6) Total costs as a percentage of average Fund assets within a financial year, calculated on 31 March 2008
Note: The figures for the first half of the financial year (1 April 2008 – 30 September 2008) cannot be extrapolated to forecast the results for the year, as transactions
affecting earnings are not spread out evenly over the year. They are of limited informative value due to the short period under review.
This Semi-Annual Report, the Sales Prospectus (available separately) and the Annual Report as of 31 March 2008 are to be distributed to investors in SEB ImmoInvest
units until the publication of the next Annual Report as of 31 March 2009. Following its publication, the Annual Report must also be provided during sale.
German Securities Code Number: 980 230 ISIN: DE0009802306 Fund launch date: 2 May 1989
View of properties in the newly acquired Potsdamer Platz portfolio in Berlin, Germany
SEB ImmoInvest at a glance as of 30 September 2008
Cover image: Potsdamer Platz 11, Berlin, Germany