publity Performance Funds
Why invest in publity closed-end funds? Closed-end funds from the publity performance fund portfolio are an interesting alternative to classic investments in the investor’s portfolio, because with just over 10 years of experience publity has developed an unrivalled product.
Overview Real Estate Fund / AIF
|Launched||Issuing phase||Status||Issued capital (euro)|
|publity Performance Funds Nb. 6||2013/05/07||2013/07-2017/06||in process||33,443,000|
|publity Performance Funds Nb. 7||2013/10/10||2014/02-2015/12||in process||41,980,000|
|publity Performance Funds Nb. 8||2015/03/13||2016/01-2017/12||in process||30,312,000|
publity Performance Fund Nb. 8
With a portfolio of German property acquired through bank liquidations, publity Performance Fonds Nr. 8 GmbH & Co. geschlossene Investment KG received authorisation to sell from BaFin in accordance with the new law as the second closed public investment limited partnership (KG) and invests in a wide range of high-quality commercial properties in good locations, primarily in metropolitan areas with growth potential, such as Frankfurt am Main, Düsseldorf, Hamburg, Berlin and Munich.
The issue phase of the fund company runs until 31 Dezember 2017. The issued capital is to amount to EUR 30,000,000 (including start-up capital without premium).
Facts and figures
|Legal structure||GmbH & Co. KG|
|Provider and fund management||publity Performance GmbH (KVG)|
|Investment||limited partner’s share|
|Formation of funds||Montag, 2015/03/16|
|Commercial registry||County court Leipzig, HRA 17305|
|General partner||publity Emissionshaus GmbH|
|Founding limited||HF Treuhand GmbH|
|Trustee limited||HF Treuhand GmbH|
|Depositary bank||CACEIS Bank Deutschland GmbH|
|Finance projects||German properties on bank recovery|
|Prospect primary funding||30,000,000 Euro|
|Subscribed primary funding||(Still in issue phase)|
|Equity||30 Mio. Euro (60% Leverage)|
|Minimum subscription amount||10,000 Euro|
|Sales launch||Tuesday, 2016/03/01|
|Start of issue phase||Friday, 2016/01/01|
|End of issue phase||Sunday, 2017/12/31|
|End of term||Friday, 2021/12/31|
|Forecasted distribution||152.37 %|
|Downloads||Sales Prospectus publity Performance Fund Nb. 8|
Application for membership Fund Nb. 8
Annex 1, Fund Nb. 8
Annex 2, Fund Nb. 8
Annex 3, Fund Nb. 8
Supplement Nb. 1 Sales Prospectus Fund Nb. 8
Supplement Nb. 2 Sales Prospectus Fund Nb. 8
Supplement Nb. 3 Sales Prospectus Fund Nb. 8
Fund Nb. 8 Key investor information
Annual Report Fund Nb. 8 2015
Annual Report Fund Nb. 8 2016
Jahresbericht_Fonds 7_JAP_2018 Jahresbericht_Fonds 8_JAP_2018
Jahresbericht für das Geschäftsjahr vom 01. Januar 2019 bis zum 31. Dezember 2019 _ AIF 8
Jahresbericht für das Geschäftsjahr vom 01. Januar 2020 bis zum 31. Dezember 2020 AIF 8
publity Performance Fund Nb. 7
With a portfolio of German property acquired through bank liquidations, publity Performance Fonds Nr. 7 GmbH & Co. geschlossene Investment KG received authorisation to sell from BaFin in accordance with the new law as the first closed public investment limited partnership (KG) and invests in a wide range of high-quality commercial properties in good locations, primarily in metropolitan areas with growth potential, such as Frankfurt am Main, Düsseldorf, Hamburg, Berlin and Munich.
publity Emissionshaus GmbH launched publity Performance Fonds Nr. 7 GmbH & Co. geschlossene Investment KG in February 2014. The issue phase of the fund company run until 30 June 2014. The issued capital is to amount to EUR 100,000,000 (including start-up capital without premium).
publity Performance Funds Nb. 6
publity Emissionshaus GmbH launched publity Performance Fonds Nr. 6 GmbH & Co. KG in June 2013. The fund company’s issue phase was extended to 30 June 2014. The issued capital was to amount to EUR 40,000,000 (including start-up capital without premium). The fund company raised limited partnership capital of EUR 33,386,000 (without premium) by 30 June 2014.
Investors may invest in publity Performance Fonds Nr. 6 GmbH & Co. KG starting from a minimum subscription amount of EUR 10,000. The total issue capital of the fund will amount to EUR 40 million. The subscription period will end no later than 30 June 2014. The term of the fund company is limited to 31 December 2018.
Dates and facts
The fund management of the current publity Performance Fund has been assumed by publity Performance GmbH. As a capital management company in accordance with the new law of the German Capital Investment Code (KAGB), it must have permission granted by the Federal Financial Supervisory Authority (BaFin).
The personal and professional suitability of both Managing Directors, Frederik Mehlitz, Christoph Blacha und Frank Schneider and the composition of the three-person Supervisory Board formed the subject matter of a thorough audit by BaFin. publity Performance GmbH satisfies the new legal requirements, which include the development of portfolio and risk management, the appointment of a custodian, increased requirements for the starting capital, the regular valuation of the fund company’s assets and the net inventory value, as well as the outsourcing of activities, such as compliance and money laundering, by the capital management company.
These also include risk and liquidity management, the preparation and auditing of the annual financial statements and relevant information and transparency duties. In addition to both Managing Directors, a further seven qualified employees of publity Performance GmbH ensure that the increase in security and transparency required by the legislator is fully and sustainably implemented at the current publity Performance Funds.
Risks cannot be avoided in the context of financial activity. They are part of any business operations and are necessary requirements for corporate success. Risk management ensures the responsible and controlled handling of assumed risks. By balancing the company’s total risk with opportunities for earnings, risk management should ensure an ideal balance between risks and earnings.
Risk management at publity Performance GmbH identifies, measures and monitors the risks arising from business operations. The measures needed to manage the risks are defined with the goal of recognising early risks that could endanger the company’s existence and implementing countermeasures.
Risk management defines risk coverage potential for publity Performance GmbH as well as the AIFs it manages, and limits the respective risks. In accordance with the provisions of the KAGB, the following types of risk in particular are categorised and monitored:
- Market risks
- Counterparty default risk (credit risks)
- Counterparty risks
- Liquidity risks
- Operational risks
Liquidity management comprises all significant processes that affect the profitability of publity Performance GmbH and the AIFs under its management.
In the context of the liquidity management system, procedures are determined and carried out that enable publity Performance GmbH to cover the liquidity profile of the AIFs with existing liabilities. Liquidity management encompasses investment strategies, payment obligations and divestment deadlines, as well as information in relation to the development of property prices and capital market interest rates, the revenue achievable through the investment properties and general economic development.
Through ongoing monitoring and the use of stress tests, publity Performance GmbH monitors and evaluates the liquidity structure of the AIFs, taking normal and extraordinary business issues into account.
Liquidity management provides the liquidity specified in the investment conditions, taking into account the value of the AIFs and the intended asset investment disinvestment decisions and ensures the necessary solvency of the AIFs.
CACEIS Bank Deutschland GmbH fulfils the role of custodian for the investment companies. The implementation of a custodian is legally prescribed within the context of the AIFM implementation and the associated introduction of the German Capital Investment Code.
In this role, CACEIS Bank Deutschland GmbH is responsible for monitoring and checking the ownership situation and the compliance with the associated duty to keep records. Furthermore, CACEIS ensures that the issuing of units in the fund company and the calculation of the value of units in the fund company comply with the regulations of the German Capital Investment Code, as well as the articles of association and the investment conditions of the fund company. Furthermore, CACEIS Bank Deutschland GmbH is responsible for monitoring the company’s cash flow and also bears the responsibility for monitoring the fund company’s overall cash flow.
In addition, the custodian is to use suitable measures to ensure that the generated earnings of the fund company comply with the regulations of the German Capital Investment Code, as well as the articles of association and the investment conditions of the fund company. CACEIS also reviews the completeness and correctness of payments to the investors.
Through the new German Capital Investment Code (KAGB), a legal framework in line with EU law was created that sets new benchmarks and standards in the areas of security and transparency.
The current Performance Fund fulfils all legal requirements to guarantee complete state supervision and audits by the Federal Financial Supervisory Authority (BaFin) and the German Bundesbank. The external management company, publity Performance GmbH, is therefore obliged to inform BaFin of significant business transactions and corporate decisions immediately, and to present regular quarterly and annual reports.
The obligations to report regularly as well as the requirement for state supervision and audits are supplemented by a system of extensive, reciprocal controls that was jointly created by publity Performance GmbH, its Supervisory Board, CACEIS Bank Deutschland GmbH as custodian, the commissioning of external service providers for compliance and defence against money laundering and the commissioning of independent, nationally recognised legal firms and experts with the regular valuation of investment properties.