NEST Capital Fund Fund Fund Mana nager er Ad Adviso sor April - - PowerPoint PPT Presentation
NEST Capital Fund Fund Fund Mana nager er Ad Adviso sor April 2020 For Qualified Investors in Portugal only and is not suitable for persons who are unfamiliar with it. This document is provided to you on a confidential basis. It must not
Fund Fund Mana nager er Ad Adviso sor
For Qualified Investors in Portugal only and is not suitable for persons who are unfamiliar with it. This document is provided to you on a confidential basis. It must not be circulated, distributed, reproduced or disclosed to any other person without the prior written consent of Lynx Asset management or its agents.
April 2020
1 This document is for INFORMATION PURPOSES ONLY. It does not constitute any efforts to actively solicit any investors or introduce any investment ideas/platforms.
The information contained herein is confidential and by accepting this Presentation, the recipient agrees not to copy, distribute, discuss, reproduce or pass (in whole or in part) to another person, otherwise disclose this Presentation or the contents hereof (including the potential investment opportunity described) or any other related information provided by the Fund Sponsor or by its agents to any person other than employees of the recipient evaluating this potential investment opportunity on the recipient’s behalf without the prior written consent of the Lynx Asset Management. This document is intended to provide information only and is not intended to be construed as a solicitation for the sale of any particular investment. It does not have regard to the specific investment objectives, financial situation, and particular needs of, and does not represent investment advice or personal recommendation to, any person. Changes in exchange rates may have an adverse effect on the value of and income from investments. The value of investments and their income can go down as well as up, and could rise or fall dramatically. Investors may not get back the full amount invested. If you have any doubt about the suitability of investments for you, you should consult your Financial Advisor. The information contained herein employs proprietary projections of expected returns as well as estimates of their future volatility. The relative relationships and forecasts contained herein are based upon proprietary research and are developed through analysis of historical data and capital markets theory. These estimates have certain inherent limitations, and unlike an actual performance record, they do not reflect actual trading, liquidity constraints, fees and other costs. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. The forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. While the information contained herein has been obtained from various sources which the Fund Manager believes, but do not guarantee, to be reliable, the Fund Manager does not represent that it is accurate or complete and it should not be relied upon as such. No person has been authorized to give any information or make any representation or warranty regarding the subject matter hereof, either express or implied, and, if given or made in this Presentation, in other materials or verbally, such information, representation or warranty cannot and should not be relied upon nor is any representation or warranty made as to the accuracy, content, suitability or completeness of the information, analysis or conclusions or any information furnished in connection herewith contained in this Presentation and it is not to be relied upon as a substitute for independent review of the underlying documents, available due diligence information and such other information as prospective investors may deem appropriate or prudent to review. This Presentation is solely for information purposes, under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy, any security or other interest in the Fund. Nothing contained herein shall be deemed to be binding against, or to create any obligations or commitment on the part of, any interested counterparty and the Fund Manager. The Fund Manager reserves the right, in its sole and absolute discretion with or without notice, to alter the terms or conditions of this Presentation and the Fund* and/or to alter or terminate the terms relating to potential investments described herein. Potential investors are not to construe this Presentation as investment, legal or tax advice and the Fund does not assume or owe any duties to recipients hereof nor shall it have any liability to recipients for the contents hereof. Prior to making any potential investment, potential investors should, at their own expense, consult with their own legal, investment, accounting, regulatory, tax and other advisors to determine the consequences of the potential investment opportunity described herein and to arrive at an independent evaluation of such potential investment opportunity. The Fund is subject to material risks which are set forth in detail in the Fund’s confidential private placement memorandum. Such risks include, but are not limited to, those risks associated with investing in assets in Portugal and Spain, as well as investing in a concentrated portfolio of real estate and real estate-related assets. The Fund has no operating history, and is subject to limited regulatory oversight. There is no assurance that the Fund will be able to meet its investment objective. The Fund may use leverage at the level of companies it invests into which leverage presents opportunities for increasing the Fund’s returns, but also has the effect of potentially increasing losses as well. Offers and sales of interests in the Fund will not be registered under the laws of any jurisdiction and will be made solely to qualified investors under all applicable laws.
Important Notice
Fund Mana nager er : Lynx nx Asset et Manag anager ers, SG SGFI FIM, S. S.A
Fund Advisor
Optylon Krea, LD LDA
Depositary Bank : Ba Banco Invest
Audi ditors : BDO & Associados, SROC LD LDA
Valuation Companies: JLL, LL, C&W, CBRE and eq equi uivalent ent
2
Nu Number of Funds Under Management
Eq Equity Under Management
*Approved by the CMVM but activity to be launched Q2 2020
3
Mutual Funds Real Estate Funds Venture Capital & PE Venture Capital & PE
Discovery Fund BF Invest LNMK Hospitality Capital Amcorp LYNX Euro Tesouraria EMINVEST LIG1 Columbus LYNX Obrigaçoes Flexivel Colinvest Santa Gema Join Ventures LYNX Valor Domus Capital Escocia Sophia Capital Principe Real TIM Stakecorp Sao Jose Ribamar CV Capital Roots and Cliffs WEST Side Capital Imobiliariadas Amoreiras NEST Capital Fund Imopatrimonio Villanova Splendimension Planalto Capital URP Real Capital Marec IMOB Edmond Capital Grand Bay Residences Imovalue RSNDFP
João Lino de Castro Partner Pedro Sousa Mendes Partner
§ 39 years of experience in law, real estate investments, M&A and corporate advisory § Private Legal Practice (1980-1999) § Management advistor of Teixiera Duerte Group (1995- 2007) § Coordinator of Mercats SA (2007-2008) § Partner of LYNX Asset Managers focusing on the growth strategy since 2007 § 30 years of experience in asset management, investment management and capital markets § 2008-Present Administrator of MNF Gestão de Activos § 2006-2008 Megafin Administrator, 2003-2012 MNF Capital Administrator § 2003 - 2005 Director of Sociedade Gestora de Patrimônios § 1998 - 2003 Director of the NCO - Gestão de Patrimônios § 1989
Deputy Director
Banco Comercial Português
António Aranha Partner
§ 20 years of experience in various fields such as Asset Management, Media, Real Estate and Tourism § 2016-2017 Vice president of the board of director at LINCE Capital § In 2013, he founded an advising company in the area of Real Estate and Tourism § Following a long experience in the Media industry, he founded a newspaper OJE § 26 years of experience in private banking, brokerage, derivatives and real estate, mutual and venture capital investment funds § 2008-2014 Founding Director of MNF Gestão de Ativos § 1990-2008 Director of Sociedade Gestora de Fundos de Investimento § Deeply involved in the development of the derivatives market in Portugal
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Guilherme Borba Partner
26 26
In Investments
868,000 s 8,000 sqm
Pr Private e area ea
€1.6 1.6 bi billion
T
3
Fund Funds
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NeoPlus Shopping Mall, Eskisehir Corpus Christi, Lisbon São Nicolau, Lisbon Göcek Marina, Göcek Elite Residence, İstanbul TomTom Gardens, İstanbul Evidea, Istanbul L’Ist Istinye Suites, Istanbul
İstanbul İstanbul, İstanbul Santa Justa, Lisbon Alcantara Gardens, Lisbon Neomarin, İstanbul Douradores, Lisbon
*Winner of Best Investment Manager in Euromoney Awards, Best Development Manager in Euromoney Awards Best Development Project in MIPIM Awards , Best Development Project in ULI Awards and Best Design in Arkitera Awards
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Almada 20-28
§
28 years of experience in in real estate development and investment banking
§
Founder and Chairman of many Real Estate focused Associations in Turkey from 1999 to 2012
§
Investment banking and corporate finance in Garanti Investment Bank and Coopers & Lybrand in Paris (1991- 1997)
§
General Manager of Yapı Kredi Koray, one of the leading Turkish Real Estate Investment Trusts (1997-2006)
Hakan Kodal
Chairman
Charles Wanecq
CEO
§
9 years of experience in real estate development and investment banking
§
Exotic trader in Paris at SGCIB and Financial engineer on structured products in NYC at Societe Generale Americas
§
Co-Founder of Optylon in 2014, a real estate focused private equity company based in Lisbon and Founding Partner
LovelyStay, a tech startup, developing software dedicated to the short-term rental
7
§
9 years of experience in real estate development and investment banking
§
5 years of experience in banking at BNP Paribas Hong Kong, in the Global Equities and Commodity Derivatives division
§
Co-Founder of Optylon in 2014, a real estate focused private equity company based in Lisbon and Founding Partner
LovelyStay, a tech startup, developing software dedicated to the short-term rental
William Tonnard
President & COO
Dilek Arditi
CIO
§
23 years
experience in real estate business development, investment management and banking.
§
Treasury sales and corporate banking in JPMorgan Chase Turkey (96-’02) and Consultant to Akbank American Express in strategic planning and business development (‘03-’05)
§
Real estate fund management, business development, legal and tax configuration, investment management and project finance in Krea since 2007.
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A LYNX Asset Managers Fund Advised by:
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Ty Type CMVM Regulated closed-end transparent private equity fund In Investm tment Sc Scope Investing equity into companies developing or holding prime yielding retail assets in Portuguese touristic cities with a focus on Lisbon, with no single investment exceeding 33,33% of the portfolio Sub Subscription Pe Period 12 + 6 months (until October 10th, 2020) In Investm tment Te Term 6 years (excl. the first 12 months of the subscription period, extendable twice for 12 months upon the decision of the Fund’s General Assembly) Fund Fund Si Size Maximum €100 Million Pa Participation Minimum €350,000 (eligible for the Portuguese Golden Visa (‘GV’) program) Ta Target Return Net 10% p.a. (1) Ta Target Ye Yearly Dist stribution Net 3% p.a.(1) Fund Fund Ma Management Fees Fees an and Ex Expenses 1.6% p.a.(2) Pe Performance fe fee The management entity is entitled to a performance fee of 50% of the capital gain resulting from the disposal of the portfolio participations (Avg. Purchase Price – Selling Price)
* Only qualified investors will be approved to the Fund (1) There is no guarantee that the target rate of return will be achieved. The target return will not be taxed in Portugal for non Portuguese tax residents but all participants will be liable for their own personal income tax. (2) The rate is calculated over €50 million fund value, including VAT and stamp duty on expenses with the following details: Management Fees: fixed commission of €10.000/month and variable commission of 1% until €25 million, 1.2% between €25 million and €50 million and 1.15% over €50 million; CMWM Fees: 0.0072% with a minimum amount of €600 charged bi- annually; Banco Invest Depository Bank Commission: 0.15% with a minimum amount of €20.000 per year; Interbolsa Expenses: €400 per distribution, €350 per information request; Interbolsa Maintenance Fee: 0.002330% until €5 million and variable commission of 0.002130% between €5 million and €50 million and 0.002030% over €50 million; Audit and Legal Fees. (3) The rate is calculated over €50 million fund value, including VAT and stamp duty on expenses with the following details: 1.33% subscription fee; Legal Fees for the Fund launch. (4) Pending approval by General Assembly, to happen in March 2020 More details available in the Management Regulation documentation.
A LYNX Asset Managers Fund Advised by:
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Growth (6 years) Inception / Investment
Ap Apri ril ‘19 Subscription Open No Nov ‘ ‘19 First Investment Oc October ‘20 All money deployed / Subscription Closed 2025+ 2025+ Sales Process Starts
Exit
A LYNX Asset Managers Fund Advised by:
Potential Extension
Y1 Y2
FU FUND GOLD LDEN VISA INVESTOR*
Growth (6 years) Investment
Potential Extension Da Day 0 Decision Made 2026+ 2026+ Money Release Y5 Y5 Passport Application Y3 Y3 2nd Visa Renewal Y1 Y1 1st Visa Renewal 4-6 6 mont nths hs GV Approval (5 years Starts here)
Exit
Y1 Y2
10 6-8 8 week eeks Investment into the Fund/ GV Application 4-6 6 week eeks GV Biometrics
*The proposed timeline is in line with the current deadlines established by the public entities supervising the GV process. Lynx is not responsible for any delay on the process which is exclusively dependent on third-parties.
2026 2026 Fund Exit
A LYNX Asset Managers Fund Advised by:
Co Companies* * with yie ield ldin ing asse ssets ts
(Pa Pays di divide dends ds to to th the Fund)
Co Companies* * with assets und under er dev evel elopment ent
(Pays yearly interest to the Fund)
* Companies (SPV’s) may be using leverage
In Investor 1 In Investor 2 In Investor 3 In Investor...
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In 2019, Lisbon’s prime retail price per square meter reached € 39,000 compared to the European average price of € 145,000
Eu Europe
Prime e Ret etail Rea eal Estate e Pr Prices es 2019 2019
A LYNX Asset Managers Fund Advised by:
Source : Cushman Wakefield and JLL Average € / Sqm
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200 000 300 000 400 000 500 000 600 000 700 000 800 000 Paris Champs Élysées London West End Milano Rome Dublin Venice Florence Munich Vienna Average European Cities Berlin Frankfurt Barcelona Amsterdam Madrid Prague Lyon Bordeaux Glasgow Antwerp Nice Athens Brussels Malaga Rotterdam Valencia Budapest Lisbon Budapest Seville Edinburgh Manchester Porto
Average European Cities 144.491 € / Sqm
Average prime retail real estate prices in European Touristic Cities is around €90,000 per sqm, equaling to 2.4 times Lisbon prices. Boosted by the increase in international tourist arrivals and growing economy, both rental levels and yields are expected to improve.
To Top European To Touristic Cities – Pr Prime e Ret etail Rea eal Estate e Pr Prices es
Sources : Cushman & Wakefield, Retail Market Snapshot 2019
A LYNX Asset Managers Fund Advised by:
13 Rank City Country Yearly rent per sqm (€) Yield Price per sqm (€) Average Prime Residential Area (€/sqm)
1 Venice Italy 6,800 3.75% 181,333 5,900 2 Florence Italy 6,000 3.50% 171,429
N/A
3 Barcelona Spain 3,420 3.30% 103,636 6,200 4 Amsterdam Netherlands 2,850 2.85% 100,000
N/A
5 Madrid Spain 3,240 3.30% 98,182 7,000 6 Prague Czech R. 2,760 3.75% 73,600 5,200 7 Glasgow U.K. 2,660 4.50% 59,111
N/A
8 Nice France 2,200 3.85% 57,143 9,000 9 Athens Greece 3,420 6.10% 56,066 4,200 10 Lisbon Portugal 1,560 4.00% 39,000 6,300 Average European Touristic Cities 3,491 3.89% 93,950
https://www.globalpropertyguide.com/Europe/
0% 2% 4% 6% 8% 10% 12% 14% 16% 1,3% 4,4% 7,1% 9,4% 11,5% 13,4% 15,1%
The fund‘s target return to investors depend on both on yearly revenues (around 5% p.a.) and on capital gain on the exit (50% upside on base case scenario)
* There is no guarantee that the target rate of return will be achieved
Ba Base Ca Case Sc Scena enario
A LYNX Asset Managers Fund Advised by:
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Lisbon
Athens +43% Prague +89% Madrid +151%
Yearly Returns (%)
Change in Asset Values
0% 25% 50% 75% 100% 125% Target Return 1.3% 4.4% 7.1% 9.4% 11.5% 13.4% 15.1% Total Investor Profit 30,625 118,125 205,625 293,125 380,625 468,125 555,625 Performance Fees 87,500 175,000 262,500 350,000 437,500
A LYNX Asset Managers Fund Advised by:
1 2 3 4 5 6
3%
Dividend *
3%
Dividend *
3%
Dividend *
3%
Dividend *
3%
Dividend *
3%
Dividend *
3%
Dividend *
49%
Capital gain*
Possible scenarios at the closing of the fund:
Positive: 49% potential outperformance based on the upside sharing plus last year dividend Negative: No upside at exit and the investor will only receive their initial capital back plus the last year dividend This is not a capital protected fund, in the worst case scenario, investor could loose their initial capital
7a 7b 7a 7b
3%
Dividend *
Years
*There is no guarantee that the target rate of return will be achieved. For illustrative Purpose Only.
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A LYNX Asset Managers Fund Advised by:
* An exclusivity agreement has been signed for these units ** This asset has already been acquired by Nest In certain cases, the acquisition amounts might be higher due to transaction costs. Rental contracts of the Sao Nicolau 119 and Santa Justa 79 have already been signed. The fund pipeline has projects pending review that are not listed on this slide Non-exhaustive tentative list of acquisitions Information contained herein is for indicative purpose only and may change without prior information. Lease date, Monthly Rent, Acquisition Yield, Acquisition Prices are targeted values as of February 2020.
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Project Location Area (sqm) Units Type Lease Start date Monthly Rent Acquisition Yield Acquisition Price (€) Acquisition Price per sqm (€) Alexandre Herculano** Lisbon 682 2 Development 01/06/2022 22,806 5.70% 4,800,000 7,038 Santa Justa 79* Lisbon 380 1 Existing 01/05/2019 20,000 4.07% 5,900,000 15,526 Alcantara Gardens* Lisbon 3,350 15 Development 01/06/2024 81,520 6.50% 15,050,000 4,500 São Nicolau 119* Lisbon 332 3 Existing 01/03/2020 12,001 5.25% 2,742,984 8,262 Prata* Lisbon 343 1 Existing 01/06/2020 11,005 5.50% 2,401,000 7,000 Douradores ONE* Lisbon 468 3 Development 01/09/2021 19,882 6.00% 3,976,300 8,496 Assunção 22 Lisbon 192 1 Existing 01/06/2020 8,500 6.18% 1,650,000 8,594 Almada 20-28 Lisbon 146 2 Existing 01/01/2020 7,750 5.31% 1,750,000 11,986 São Paulo 60 Lisbon 277 1 Existing 01/06/2019 10,000 5.25% 2,286,000 8,253 Total 6,170 29 193,464 5.72% 40,556,284 6,573
A LYNX Asset Managers Fund Advised by:
BAIXA PRAÇA DO COMÉRCIO CHIADO PRAÇA DO ROSSIO CASTELO DE S.JORGE AVENIDA DA LIBERDADE PRATA 232 SANTA JUSTA 79 SAO NICOLAU 119
DOURADORES One
ALEXANDRE HERCULANO
17 17
RUA DA ASSUNÇÃO 22
ALMADA 20 – 28
3 2 5 4 1
Sao Nicolau 119 Santa Justa 79 Prata 232 Douradores Alexandre Herculano
2 4 5 3 1
A LYNX Asset Managers Fund Advised by:
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6 6 Rua da Assunção 22 7 7 Almada 20 - 28 8
São Paulo 60
9 Alcantara Gardens 8 9
Strategically located next door to international luxury brands
Being an unforgettable asset amongst the high end market of Avenida da Liberdade, the asset has 2 stores at the ground floor level.
Yi Yield 5. 5.70 70 % Store Area 682 sqm Price € 4,800,000 Price Per Sqm € 7,038 Opening June 2022
A LYNX Asset Managers Fund Advised by:
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Built at the end of 18th century, Santa Justa 79 is next to the famous Santa Justa elevator and a few steps away from Rua Augusta, Lisbon’s main shopping hub.
Yi Yield 4.0 .07 % Store Area 380 sqm Price € 5,900,000 Price Per Sqm €15,526 Opening May 2019
A LYNX Asset Managers Fund Advised by:
Strategically located downtown prime location with prestigious long term rental contract in place
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Originally built in 1805, Sao Nicolau 119 is a sun-drenched corner building located right at the border
Lisbon’s most elegant and coveted districts, Baixa and Chiado.
Yi Yield 5.2 .25 % Store Area 332 sqm Price € 2,742,984 Price Per Sqm €8,262 Opening March 2020
A LYNX Asset Managers Fund Advised by:
Strategically located downtown in a prime location with several mid-term rental contracts in place
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Located in a prime location at the crossroads of the busiest and the most charming streets of Lisbon
Built at the end of the 18th century, The asset is located at the corner of the emblematic Rua dos Douradores and Rua da Conceição, two
the most charming streets of Baixa
Yi Yield 6.0 .00 % Store Area 468 sqm Price € 3,976,300 Price Per Sqm € 8,496 Opening September 2021
A LYNX Asset Managers Fund Advised by:
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Strategically located in a downtown prime location
This prime asset is located in Rua da Prata just a few steps from famous Santa Justa and Rua Augusta streets. The
commercial tenant was just evicted and a new tenant will soon be occupying the premises.
Yi Yield 5.50 50 % Store Area 343 sqm Price € 2,401,000 Price Per Sqm €7,000 Opening Tenant Free
A LYNX Asset Managers Fund Advised by:
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Prime property in the heart of a trendy neighbourhood where LX Factory, marina and massive revitalization projects are located
The asset consists of two plots totaling 14,496 sqm in the heart
developed into a state-of-the-art mix used project only steps away from the Tejo river shoreline.
Yi Yield 6. 6.50 0 % Store Area 3,350 sqm Price € 15,550,000 Price Per Sqm € 4,500 Opening June 2024
A LYNX Asset Managers Fund Advised by:
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The asset consists of a corner unit in the heart of Baixa, steps away from Rua Augusta and Praça da Figueira square (Rossio metro station). The current
for F&B.
Yi Yield 6. 6.18 18 % Store Area 192 sqm Price € 1,650,000 Price Per Sqm € 8,600 Opening Tenant Free
A LYNX Asset Managers Fund Advised by:
Located in the buzzing Baixa area, this corner unit benefits from remarkable visibility and exhibition
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New Development in Chiado, home to some of the most exclusive retail units in Lisbon. Considered one of the most prime locations in Lisbon due to the increased touristic footfall
This development includes two retail units, already rented and
year, the classic Pombaline charm perfectly matches the trendy shops on premise.
Yi Yield 5. 5.30 0 % Store Area 146 sqm Price € 1,750,000 Price Per Sqm € 12,000 Opening January 2020
A LYNX Asset Managers Fund Advised by:
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Strategically located at the heart of Cais do Sodré, the trendiest and upcoming area for F&B in Lisbon
Cais do Sodré has recently turned into the main entertainment district
Lisbon with new restaurant and bar openings on a monthly basis. The Copenhagen coffee lab is a well known coffee franchise in Lisbon, with a great expansion for the last year
Yi Yield 5. 5.25 25 % Store Area 277 sqm Price € 2,286,000 Price Per Sqm € 8,250 Opening June 2019
A LYNX Asset Managers Fund Advised by:
A LYNX Asset Managers Fund Advised by:
§ 5 years to citizenship § Minimum residency requirement of 7 days yearly average during 5-year period. § Minimum Contribution: Pr Property Acquisition Ca Capital Co Contribution Bu Business
§ A A real estate purchase with a mi minimu mum m value of €500, 500,000 000 § A real estate purchase with a minimum value of €350,000 for the refurbishment of properties older than 30 years
regeneration, including the cost of renovations § €1 million transfer into a Portuguese bank account or approved investment
§ €350,000 for research act. of public or private entities that are part of the national scientific and technological system § €250,000 in support of artistic production or in the recovery or maintenance of the national cultural heritage § €350, 350,000 000 for the he acqui uisition n of uni units of in investment funds or venture capit ital l fu funds committed to the capitalization of companies incoop. under the Portuguese law with a maturity of at least five years and with a least 60% of the investment portfolio in companies with a head office in the national territory § Creation of a minimum of 10 new jobs § €350,000 for the incorporation of increase of the share capital of a company registered in Portugal, creating for maintaining a min. of five permanent jobs, for a period of three years
Source: Law no. 23/2007, 4th July, article 3rd no. 1 paragraph d), subparagraph vii).
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A LYNX Asset Managers Fund Advised by:
Pr Private Eq Equity Fund Fund Pr Prop
Ca Capital Co Contributions
Min Minim imum Inve vestm tment € 350,000 € 350,000 € 500,000 € 1,000,000 Tr Transfer Taxes Ti Title Transfer Fees 0% 6.5% 6.5% 0% St Stamp Dut uty 0% 0.8% 0.8% 0% Re Regist stration
No Notary C Cost (A (Approx
0% 0.2% 0.2% 0% Ex Exit Fees s (Es (Est.) 0% (5%+VAT) (5%+VAT) 0% Fur Furni nitur ure e (Es (Est.) 0% € 20,000 € 20,000 0% La Lawyer Fees (Es (Est.) ) ** € 2,000 € 5,000 € 5,000 € 5,000 TOTAL L Investment (Es (Est.) € 352,000 € 422,775 € 593,250 € 1,005,000
* Direct property Investments in Metropolitan areas can be excluded from Golden Visa eligibility starting from 2021 according to recent declarations of the Government. To be confirmed. ** Golden Visa application costs should be added and depend on the number of applicants and legal consultancy fees of legal councils.
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No income tax on distributions and capital gains in fund investments for non tax residents versus 28% to be paid on rental income and capital gains in direct property investments
A LYNX Asset Managers Fund Advised by:
Client decides to invest Client appoints a legal counsel Client opens a personal bank account in Portugal Client signs all the Fund documents* Lynx evaluates and approves the Investor
Lynx issues Fund subscription declaration necessary for Golden Visa application
1 2 3 4 5 7
* After the approval of source of funds and qualification proof as qualified investor
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Client transfers money from its personal account to Fund account 6
across the European Union – Portugal’s tourism industry brought in 38.4 billion euros in revenue, and made up one in five jobs.
A LYNX Asset Managers Fund Advised by:
https://www.caixabankresearch.com/en/portugal-global-tourist-destination https://www.southeusummit.com/europe/portugal/portuguese-tourism-industry-set-to-continue-rapid-growth/ https://www.euronews.com/2019/08/02/portugal-tourism-growth-slowed-sharply-as-fewer-brits-visit
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sector representing 65% of all retail leases recorded in C&W’ Retail Index.
Tourism continues to be a great drive. Rental prices steadily increase in Baixa, Chiado and Avenue Liberdade where the fund invest.
A LYNX Asset Managers Fund Advised by:
EV EVOLUTION OF REN RENTAL PRI RICES ES IN LISBON
https://www.telegraph.co.uk/travel/destinations/europe/portugal/articles/portugal-best-things-to-see-and-do/ http://www.expresso.pt//Economia_5Janeriode2019_Pg24 http://www.cushmanwakefield.pt/en-gb/research-and-insight/2019/marketbeat-portugal-spring-2019
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growth of the last decade in 2017, of 2.8% outpacing the Eurozone, the Portuguese economy continues its positive momentum in 2018 and 2019.
ratio is on a firmly declining path, the successful payment of the loan to the IMF ahead of schedule and the ever decreasing rate of unemployment all point to the continuity of positive economic performance.
A LYNX Asset Managers Fund Advised by:
Firmly Declining Unemployment in Portugal (2013= 17.3)
http://www.cushmanwakefield.es/en-gb/research-and-insight/2018/investmen_iberia_guide_2018 http://www.cushmanwakefield.pt/en-gb/research-and-insight/2019/marketbeat-portugal-spring- 2019
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Combining healthy support from the government with the low cost of living enabled some of these start-ups (Farfetch, Outsystems to name two) to exceed the much coveted «Unicorn Status» as they are now valued above 1 Billion USD.
factor for start-ups is the availability of available talent pool in a city and Lisbon is not lacking resources on this front.
healthcare, low crime rate, zero taxes on pensions and agreeable weather to capitalize on the «Silver Economy» a term used for the spending power of 60+ olds which will reach USD 15 Trillion by 2020.
now making its way to lists such as «best places to retire in Europe» and the country will become more competitive to capitalize on this trend soon.
A LYNX Asset Managers Fund Advised by:
26, 26,228 228 fo foreign st students +5 +55% Growth si since 2014/2015 On One of
be best pl places to to re retire re
https://portugalstartups.com/2018/06/portugal-unicorn/ https://www.forbes.com/sites/heatherfarmbrough/2018/02/28/all-roads-lead-to-lisbon-why-startups-are-booming-in-the-portuguese-capital/#565490e677ea https://www.independent.co.uk/travel/europe/lisbon-emigration-tourism-millennials-freelancers-digital-nomad-portugal-airbnb-a7967376.html https://www.cnbc.com/2018/08/02/five-european-cities-where-you-can-retire-on-35000-a-year.html https://www.halbekoenraads.com/wp-content/uploads/2018/06/BOOKLET_PORTUGAL.small_.pdf
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Fund Fund Mana nager er Ad Adviso sor
Fo For more e info nformation n about ut the he Fund Fund Inv nves estment ent: investors@lynxassetmanagers.com Fo For more e info nformation n about ut the he Rea eal Estate e Market et in n Portug ugal: invest@optylonkrea.com
March 2019
Intended for Qualified Investors in Portugal only and is not suitable for persons who are unfamiliar with it. This document is provided to you on a confidential basis. It must not be circulated, distributed, reproduced or disclosed to any other person without the prior written consent of Lynx Asset management or its agents.