WARNING
The law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.
If you are a wholesale investor under the definition of that term in clause 3 of Part 1 Schedule 1 of the Financial Markets Conduct Act 2013, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information.
You will also have fewer other legal protections for these investments. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.
Provincia is an industrial property fund with a diverse investment portfolio of 13 properties. The quality of its properties, benefits of its open-ended PIE fund, and a strong historical total return sets the fund apart. Provincia operates as a single diversified fund and the management team are all investors as well. With this, the right incentives are in place to drive future performance.
Provincia invests in quality mid-sized ($5-10 million) industrial properties located in growth areas that have sound economics. Its properties are located in areas with some of the lowest vacancy rates in the country. When tenants move on, Provincia can replace them very quickly. Also during economic downturns, shops may close down and offices may cut back, but factories and warehouses just keep running. For further information, refer to our Investment Statement and Quarterly Reports available on the Documents tab.
Provincias strategy is to buy properties where value can be added in the short to medium term. This could be surplus land for future development, opportunities to improve the lease terms or improvements to the building to increase rent and value. The portfolio consists of 13 industrial properties (12 in Auckland and one in New Plymouth) with a total value of $104 Million and supporting rental income of 5.45 Million as at 31 march 2023.
Returns
Provincia has returned on average 6.77 cents per share over the last 5 years plus an average capital gain of 9.87 cents per share, making an average total return of 16.64 cents per share over the last 5 years. (2019 to 2023). For further details on returns download our Annual Report and latest Quarterly Report for forecasts.
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