Fiera Real Estate Long Income Fund

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Name*
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The information provided in this document is reserved for professional and institutional investors only and is not intended to be viewed in the United States or by US Persons.

By clicking “I accept” you:
- are a professional client as defined by the Financial Conduct Authority in the United Kingdom (COB 3.5).
- are not a US Person (including being a US citizen or resident, or company incorporated under US law).
- acknowledge and agree to the terms of the Privacy Policy.
I hereby certify the above and acknowledge that I have read, understood, and accepted the aforementioned conditions.*
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Fund Type

Open-Ended

Target Return

4.0-4.5% pa (income)

NAV

£252.5m

Sectors

Portfolio

30 assets

Investment Approach

The Fiera Real Estate Long Income Fund UK (FRELIF UK) is an open-ended real estate investment fund that launched in 2009 and became open-ended in 2016. It focuses on acquiring assets with a core risk profile.

The investment objective is to provide fund investors with a target level of income distribution together with the potential for capital appreciation, through investments in a diversified, low-risk, portfolio of predominantly commercial real estate properties across the United Kingdom.

Target rates are not guaranteed. Inherent in any investment is the potential for loss.

Fund Factsheet 9 Reasons to Invest

Key Strategies

The Fund targets:

Core Assets:

Lease duration of 20 years+ at acquisition.

Income Growth:

Indexation-linked or fixed uplift rental reviews guaranteeing income progression.

Regional Diversification:

Pan-UK, ensuring geographical diversification.

Tenant Credit Risk:

Strong counter party risk. Assets let to tenants with a substantial financial standing.

Themes

The vehicle benefits from the long term market trends of:

LONG

19.9 years minimum term
(9.3 year margin over MSCI)

STRONG

Quality convenants
providing low levels of counter party risk

PROGRESSIVE

83.5% of income benefits from
fixed rental uplifts or indexation

INTEGRATED

ESG initiatives
increasing value and reducing risk of obsolescence

About the Fund

Investment strategy is focussed on acquiring assets with a core risk profile. All assets must display at least three of the following core characteristics at the time of acquisition:

Properties Located in the UK
Properties which are well located in established commercial markets that display a good degree of liquidity.
Modern Institutional Grade Buildings
Good quality modern properties built to an institutional grade.
Assets with Rental Growth Opportunities
Assets which offer either neutral indexation or market rented or under rented, and therefore offer scope for rental income growth.
Well let to a Strong/Established Tenant(s)
Targeting asset acquisitions let to strong tenants with an average income weighted unexpired lease term of typically 15 years or more.

The Portfolio

AUM by Sector
Total	100.0
Industrial	41.3%
Standard Retail	19.1%
Other	18.5%
Retail Warehouse	12.8%
Office	8.4%

AUM by Region
Total	100.0
South East	22.9%
Scotland	20.3%
West Midlands	16.7%
Eastern	9.9%
South West	9.1%
North West	8.1%
Yorkshire and the Humber	6.6%
East Midlands	4.5%
Wales	2.0%

As at 31st March 2023

Examples of Assets Within the Portfolio

Industrial - Harlow

An industrial unit comprising 61,800 sq.ft let to SmithKline Beecham Limited on 20 year lease.

Office - Wolverhampton

Forward funding of 30,000 sq. ft. Grade A office and depot, pre-let on a 20 year lease to Cadent Gas.

Mixed Use - Warwickshire

An industrial and Grade A office HQ facility comprising 129,800 sq.ft let to Ricardo Plc on 18 year lease.

View More Assets

At Fiera Real Estate, we are committed to be Responsible, Resilient and Engaged.

We recognise the importance of integrating environmental, social and governance (ESG) issues within our investment management processes. We believe that we have a responsibility to our investors to fully understand the impact of these issues and to embed ESG considerations into the way we manage FRELIF UK so that we may drive long-term value and mitigate risk.

FRELIF ESG Brochure

FRELIF UK ESG Initiatives and Successes

Recent Successes

Green Star Status
achieved in 2022

Accredited as a
Real Living Wage Employer

85% tenant energy data
collection vs 75% target

Net Zero Carbon
Target Set

Initiatives

Responsible

Renewable Energy

Solar PV installation project across the portfolio in partnership with push energy.

Utility Monitoring

Utilising automatic data harvesting to collect occupier utility data, as well as trialling data loggers.

Biodiversity

Installing beehives, planting wildflowers, bird boxes and bug hotels.

Social Impact

FRELIF UK has been accredited as a Real Living Wage employer, seeing all service providers across the portfolio receive a minimum hourly wage significantly higher than the Government’s minimum for over 25s.

Resilient

Net Zero Carbon

FRELIF UK has a Net Zero Carbon target of 2035 and has a strategic roadmap/pathway detailing how this will be achieved.

Climate Risk

MSCI’s Climate Value at Risk tool provides quarterly insight into FRELIF UK’s exposure to transition and physical climate risk.

TCFD

Fiera Real Estate (“FRE”) has published a Task Force on Climate Related Financial Disclosures report.

Engaged

Tenant Engagement

There is an on-going tenant engagement programme which includes regular communication on ESG matters, annual occupier ESG focus groups, performance reports and collaborative landlord and tenant ESG projects.

Managing Agents

Quarterly meetings with Managing Agents setting ESG KPIs and producing plans for multi-let assets.

AREF

FRE UK’s COO holds the position of Chair of the Corporate Governance Committee and FRE’s Global Head of ESG is a member of the ESG & Impact Investment Committee.

Fiera Real Estate supports the Sustainable Development Goals

In 2015, all UN Member States adopted the 2030 Agenda for Sustainable Development. Underlying ‘Agenda 30’ are 17 Sustainable Development Goals (SDGs), which address the urgent call to end extreme poverty, fight inequality and injustice and to protect our planet. The targets we have set for ourselves in order to meet our ESG commitments have been aligned with a number of these SDGs, but we have placed particular focus on the below:

Long Income Recent Media

October 21, 2022