Kenmore European Industrial Fund (KEIF) booked a pre-tax profit of just over EUR 23 mln for the first half of 2007. The UK-based closed-end investment company raised EUR 206 mln on the London Stock Exchange in September last year. The company's property portfolio, valued at EUR 525 mln, saw an uplift of 4% against the year's first quarter. Its seed portfolio increased by 7.7% in the reporting period and the company is well on track to be fully invested one year after its listing.
Kenmore European Industrial Fund (KEIF) booked a pre-tax profit of just over EUR 23 mln for the first half of 2007. The UK-based closed-end investment company raised EUR 206 mln on the London Stock Exchange in September last year. The company's property portfolio, valued at EUR 525 mln, saw an uplift of 4% against the year's first quarter. Its seed portfolio increased by 7.7% in the reporting period and the company is well on track to be fully invested one year after its listing.
Chairman Giles Weaver commented: 'We have built a strong income-generating portfolio which, despite interest rate increases, continues to enjoy strong tenant interest. We also see ongoing demand for specialist investment vehicles such as KEIF from both indigenous and overseas investors which should ensure the ongoing strength and liquidity of European real estate markets.'
