Rating date Rating Score

Transcription

1 FERI Real Estate Manager Rating Rating date Rating Score April 30, 2015 AA Excellent 73 has performed ratings for countries, industries and companies, capital markets, real estate markets, properties, and funds for over 20 years. The rating methodologies developed by FERI provide a future-oriented assessment. The various ratings are based on consistent forecasts for all relevant markets and sectors. FERI Manager Ratings assess the management quality of a fund. The methodology adopted aims to evaluate the management quality as objectively as possible from a neutral perspective. Managers are assessed by examining the quality of the company, its product range, processes, and customers. This assessment is made with the help of a comprehensive catalog of criteria. The individual criteria are aggregated to produce a score corresponding to one of 12 ratings, from AAA to E. Disclaimer: The validity of the rating presented here is limited to the date on which it was made. It serves third parties as information only and does not represent investment advice or a recommendation or invitation to invest. This is a condensed version of the FERI manager rating. Only the full rating report is binding. does not accept any liability towards third parties. Haus am Park Rathausplatz Bad Homburg, Germany Manager profile Name of Companies is comprised of: - KanAm Grund Kapitalverwaltungsgesellschaft mbh (1) - KanAm Grund Institutional Kapitalverwaltungsgesellschaft mbh (2) - KanAm Grund Real Estate Asset Management GmbH & Co. KG (3) Commercial register number Frankfurt HRB (1) / HRB (2) / HRA (3) Company Headquarters MesseTurm Frankfurt am Main, Germany Year established 2000 (1) / 2003 (2) / 2013 (3) Subscribed and paid-in capital EUR 5.2 m (1) / EUR 5.0 m (2) / EUR m (3) Branch offices Shareholders Chairman of the Supervisory Board Management Number of employees 91 Business purpose Assets under Management Number of funds launched 5 Appointed Depositary Competent supervisory authority Paris / France Atlanta / USA (subsidiary) Luxembourg / Luxembourg Hans-Joachim Kleinert Olivier Catusse Matti Kreutzer (in (1) & (2)) KanAm GmbH & Co. KG (in (1) & (2)) KanAm Euro GmbH & Co. KG (in (3)) Dietrich von Boetticher (in (1) & (2)) Hans-Joachim Kleinert Olivier Catusse Heiko Hartwig (in (1)) Launch and management of real estate funds in the form of mutual and special funds as well as providers of investment and asset management services EUR 3.9 billion M.M. Warburg & CO (AG & Co.) KGaA Federal Financial Supervisory Authority [Bundesanstalt für Finanzdienstleistungsaufsicht]

2 FERI Real Estate Manager Rating Ratings criteria Weighting Score Rating Commentary Manager Rating 100% 73 AA Excellent Company 35% 73 AA Excellent Organization 25% 72 AA Excellent Management 30% 75 AA Excellent Employees 25% 74 AA Excellent Systems 20% 71 A+ Very good (+) Products 15% 67 A Very good Product offering 40% 68 A Very good Track record 40% 65 A Very good Market presence 20% 67 A Very good Processes 30% 72 AA Excellent Process organization 30% 72 AA Excellent Process contents 70% 72 AA Excellent Customers 20% 79 AA Excellent Customer support 70% 77 AA Excellent Sales 30% 82 AA Excellent Rating date April 30, 2015

3 Company Company (35%) AA Excellent 73 Organization (25%) AA Excellent 72 Management (30%) AA Excellent 75 Employees (25%) AA Excellent 74 Systems (20%) A+ Very good (+) 71 Since 2000, the companies in the have launched a total of 5 real estate investment funds. With two German management company licenses granted in 2015, the has now the option of launching closed-ended real estate funds (AIFs) as well as mutual open-ended real estate funds and special funds in accordance with the German Capital Investment Code (KAGB). The latter two types of funds include the newly launched LEADING CITIES INVEST and KanAm Grund Europa. In the process of the liquidation of KanAm grundinvest Fonds as the largest real estate investment fund managed by the, a clear and transparent strategy is being pursued with Agenda In addition, investment and asset management services are being offered by KanAm Grund Real Estate Asset Management GmbH & Co. KG. The management has a very high level of expertise and identifies strongly with the company, actively living the company s mission and vision. Second-tier management employees have also been associated with the company for a very long time and have a high level of expertise. Another significant key feature is the employees many years of industry experience. Organization Structure History Flexibility Efficiency Management Personal skills Vision / Strategy Management style Employees Expertise Satisfaction Fluctuation Systems Management Information System Planning IT system Components Company + Efficient and flexible company organization + Very high level of innovation

4 Product range Products (15%) A Very good 67 Product offering (40%) A Very good 68 Track record (40%) A Very good 65 Market presence (20%) A Very good 67 The product range is characterized by a strong focus on launching and managing real estate funds. The offer of investment and asset management services particularly for international investors aims at further diversification of the product range in the future. In this context, the company can build on many years of internal experience in these fields. The reports assets under management of EUR 3.9 billion and a track record of 196 transactions with a corresponding transaction volume of EUR 19.4 billion. The has its own branches in its major investment markets of North America, France and Benelux. LEADING CITIES INVEST, a newly launched mutual open-ended real estate fund as of 2013, is in the meantime diversified with seven properties over three countries and types of use. Similarly, two properties were acquired for KanAm Grund Europa. With the funds in liquidation, is pursuing the concept of the Agenda 2016 of a stringent process with the aim of best positioning the real estate to be sold on the market with particular consideration for the financial and real estate situation. Product offering Diversification Valance Unique selling proposition Track record Sustainability Success Market presence Market presence as asset manager Market presence as property manager Components Product range + Specialization in real estate investments + Powerful international network + Innovative strategy for fund liquidation + Expansion of the product range for investment and asset management services

5 Processes Processes (30%) AA Excellent 72 Process organization (30%) AA Excellent 72 Process contents (70%) AA Excellent 72 s processes are very efficiently structured and fully integrated, allowing for continual optimization and adaptation of process operations also due to changes to the regulatory conditions. Ongoing monitoring and review of the processes and projects take place, for which established work groups and committees convene regularly according to a schedule decided at the beginning of the year. Central services in the field of investment management and asset management as well as market research are carried out by the companies of the under their own direction. The same applies for accounting and reporting as well as risk management, which is both impressive in its scope as well as innovative in its methodology. In addition to real estate market research, the research department carries out comprehensive monitoring of competitors. With the C-Score Model it has developed a new scoring model to identify target markets. The successful implementation of Agenda 2016 to date is due in particular to the well-coordinated processes between asset management technical, asset management leasing and investment management. Process organization Flexibility Synergies Partnerships Quality control Process contents Research Investment Management Asset Management Leasing Property Management Accounting / Controlling Risk Management Reporting + Close coordination and cooperation between asset and investment management + Innovative leasing and selling concepts + Optimal partner network in the invested markets Components Processes - Expandable external certification

6 Customers Customers (20%) AA Excellent 79 Customer support (70%) AA Excellent 77 Sales (30%) AA Excellent 82 sales occur diversely throughout various sales channels in Germany and abroad. As well as private investors, the client base includes German insurers, pension funds, foundations, KanAm Group, high net worth individuals as well as foreign, internationally invested institutional investors and sovereign wealth funds. Long-standing business relationships exist with renowned fund platforms, transaction banks in Germany as well as Luxembourg and with other financial service providers. Broad market coverage is achieved by the existing network of intermediaries. A consequent penetration of the market is achieved thanks to the personal presence of the sales team at events nationwide, which are chosen on the basis of systematic target group analysis. organizes exclusive consultant and investor forums nationwide, which take place in close coordination with fund management and a planned real estate purchase, and therefore with the CashCall. Product marketing for the mutual open-ended real estate fund LEADING CITIES INVEST has the motto Megatrend urbanization and aims for the powerful appeal and allure of regional and global metropolises. Customer support Customer information / Reporting Frequency Quality of information Understandability Internet Sales Advertising Public relations Sales strategy Components Customers + Comprehensive support for sales partners and investors + Broadly diversified pool of sales partners, no dependencies, no exclusive sales + Very well structured sales concept + Innovative communication channels (videos)