Net asset value (NAV) of Baltic Horizon Fund (the Fund) unit as at end of July 2020 amounted to EUR 1.2098 per unit. Compared to the previous month, NAV decreased by -0.58%. The NAV decrease was mainly affected by a declared dividend of EUR 1.70 million recognized in July 2020 and a negative cash flow hedge reserve movement during the month.
Eliminating dividend distribution effect to NAV, the NAV increase from operating performance and negative cash flow hedge reserve movement during the month would have been +0.65% compared to the previous month. EPRA NAV, EPRA NRV and EPRA NTA as at the end of July 2020 decreased to EUR 1.2979 per unit, corresponding to a decrease of -0.50% over the last month. The Fund earned an unaudited consolidated net profit of EUR 0.9 million in July 2020.
The Management Company of the Fund will continue to actively monitor the economic impact of the COVID-19 pandemic. At the end of July 2020, the Fund had a sufficient amount of cash (EUR 8.46 million) to cover its liquidity needs.