Stabelo Fund 1
Stabelo Fund 1 is issuing long-dated Participating Debentures in order to provide institutional investors the opportunity to gain exposure to Swedish residential mortgages secured by single family homes or tenant-owned apartments. The Swedish mortgage market is characterised by full recourse mortgage contracts, insignificant volumes of teaser adjustable rate mortgages and, in an international context, relatively low average loan-to-value-ratios.
The Fund is specifically targeting professional institutional investors that have a long-term investment horizon.
Stabelo Fund 1 is raising funds on a continuous basis by issuing Participating Debentures. The Participating Debentures are listed on the Nordic Growth Market in Stockholm.
| Fund headlines | 2023-09-30 |
|---|---|
| Fund Assets under Management, MSEK | 19 794.9 |
| Number of fundshares in issue | 19 829 |
| Net Asset Value per fundshare, in SEK | 998 280 |
| Net Asset Value per fundshare, as % | 99.8280% |
| Full price per fundshare, in SEK | 1 009 307 |
| Full price per fundshare, as % | 100.9307% |
| Issue price per fundshare, in SEK | - |
| Issue price per fundshare, as % | - |
| Issue basis | - |
| Duration of mortgages, rolling 3 month average, years | 0.260 |
| Credit duration of mortgages, rolling 3 month average, years | 3.58 |
| Weighted average Loan-to-Value | 43% |
Notes:
1. Assets under management comprise the Fund’s portfolio assets less portfolio liabilities at the month-end, including investment funds drawn down prior to month-end.
2. Fundshares consist of participating debentures issued by the Fund with a nominal value (or ‘base amount’) of SEK 1 million each.
3. Net asset value per fundshare is the assets under management divided by the number of fundshares, expressed in SEK or as a percentage of nominal value. It is equivalent to the ‘clean’ price per fundshare exclusive of Fund income or interest compensation.
4. Full price per fundshare is the price per fundshare inclusive of Fund income or interest compensation.
5. Issue price per fundshare is the Fund issue price in the primary market. This comprises the net asset value per fundshare (determined according to Fund Terms and Conditions), plus interest compensation, where applicable, for interest accrued since the date of last distribution.
