Target Healthcare REIT plc (THRL) Ord 1p

Target Healthcare REIT plc is a United Kingdom-based externally managed real estate investment trust. The Company’s investment objective is to provide shareholders with an attractive level of income together with the potential for capital and income growth from investing in a diversified portfolio of freehold and long leasehold care homes that are let to care home operators, and other healthcare assets in the United Kingdom. Its portfolio includes Chawley Grove, Roden Hall, The Oaks, Goldwell Manor, Woodland View, and The Manor. The Company’s portfolio comprises 94 properties let to 34 tenants. The Company invests in a portfolio of care homes, predominantly in the United Kingdom, which are let to care home operators on full repairing and insuring leases. It provides fit-for-purpose real estate for the long term to care providers who demonstrate operational capabilities. The Company’s investment manager and alternative investment fund manager is Target Fund Managers Limited.

The Group pursues its objective by investing in a portfolio of care homes, predominantly in the UK, that are let to care home operators on full repairing and insuring leases that are subject to annual uplifts based on increases in the UK retail prices index (subject to caps and collars) or fixed uplifts. The Group is also able to generate up to 15% of its gross income, in any financial year, from non-rental revenue or profit related payments from care home operators under management contracts in addition to the rental income due under fully repairing and insuring leases.

• Ongoing charge1.51%
• Annual management charge -
• Performance feeNo

NAV up to and including GBP 500m, annual fee is 1.05% Above GBP 500m and up to and including GBP 750m, fee is 0.95% Above GBP 750m and up to and including GBP 1bn, fee is 0.85% Above GBP 1bn and up to and including GBP 1.5bn, fee is 0.75% Above GBP 1.5bn, fee is 0.65%. No performance fee. Contract is terminable on 24 months notice.