The Montello Real Estate Opportunity Fund continues to outperform, returning an annualised 7-15%pa net to investors, against its target of 6-10%pa.

1. 100000
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A (GBP) B C D E F
Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
SUMMARY TERMS
Target net-return: 6-10% per annum.
Allocation: 100% investment allocation for all share classes.
Income Paid: Quarterly. Accumulation and Distribution share classes available.
Reference currency: GBP (EUR & USD shareclasses also available)
Liquidity: Monthly with 30 days’ notice.
Min. investment: GBP 10,000 with reference to the normal SICAV-SIF rules for appropriate investor status.
Fees: 1.95% AMC + 25% performance fee (target returns are net of these fees).
MONTELLO REAL ESTATE OPPORTUNITY FUND
m
101 NEW CAVENDISH ST, LONDON W1W 6XH
TEL: +44 800 130 3388
www.montello.co.uk
www.montello.co.uk
REAL ESTATE
OPPORTUNITY FUND
July update
The fund continues to allocate capital to high yielding,
risk adjusted, short term real estate opportunities,
predominately located in the South East of England.
One such transaction in July was short term financing
to a property investor, provided at a conservative
58% of purchase price to allow timely completion on
a block of 12 residential apartments located in a key
London commuter town. The investor will sell the units
to individual purchasers over the next 3-12 months and
exit the financing arrangement over this timescale. This
sort of transaction is typical of the opportunities being
targeted, where the speed of the funding was critical.
Our Track Record
The Montello group was set up in 2008 and has since built
a track record in real estate investments providing returns
at or above the Fund’s target range. Montello manages
more than £100m and its funds have consistently returned
between 6.5% and 10.25%pa on an annualised basis.
MREOF Performance
LFP I SICAV-SIF S.A. Montello Real Estate Opportunity Fund SICAV-SIF
2014 Class ISIN JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD Annualised
GBP A LU1004413578 0.6494% 0.6624% 0.7031% 0.7037% 0.5707% 0.6104% 0.6294% 4.5291% 7.7994%
EUR B LU1004413651 1.1932% 1.6019% 0.6536% 1.6021% 5.0508% 13.9440%
USD C LU1004413735 0.6472% 2.3096% 0.4221% 1.8626% -0.0491% 0.9475% -0.4421% 5.6978% 12.2798%
GBP D LU1004413818 0.6992% 0.7030% 0.5697% 0.6266% 0.6302% 3.2710% 7.8504%
EUR E LU1004413909 1.1932% 1.6019% 0.6546% 1.6041% 5.1470% 15.4410%
USD F LU1004414030 1.8618% -0.0481% 0.9438% -0.4421% 2.3190% 6.9570%
Distribution Capitalisation
CBRE market update
The UK economy is growing at its fastest rate since the
financial crisis, and indeed has now surpassed its pre-crisis
peak, according to the latest data. Strong economic
fundamentals have given domestic purchasers a boost,
while the overseas appetite for London real estate
endures, meaning that demand continues to outstrip
supply by a considerable margin. Mortgage lending and
transaction activity is up, and average house prices have
increased in all regions.
We anticipate average growth of 20% across Greater
London for the whole of 2014. We anticipate some
cooling in the prime market, as growth settles into a more
sustainable rate. Interest rate increases are likely to be
small and steady, and as such, will have a minimal impact
over the next year or so.
Advisors to the Fund
Investment Advisor:
Montello Capital Advisors Limited
Transaction Advisor:
CBRE Indirect Investment Services Limited
Fund Management – Board of Directors:
Luxembourg Fund Partners Directors
Fund Administrator: APEX
Fund Auditor: PWC
Custodian Bank & Paying Agent: ABN AMRO

2. Investment Advisor
Montello Capital Advisors Limited (“Montello”) is part
of the Montello group, which is one of the leading real
estate financiers in the UK.
As well as an extensive deal referral network of
professional practices (law firms, accountants, IFAs
etc.), Montello has a substantial portfolio of ongoing
and repeat business from property developers and
entrepreneurs. The average deal-flow that Montello
generates is £50-120m each month.
Transaction Advisor
Additionally, Montello will be advised by CBRE
Indirect Investment Services Limited (CBRE), which is
Authorised and Regulated by the Financial Conduct
Authority and is a wholly owned subsidiary of CBRE
Limited whose ultimate parent company is CBRE Group
Inc., as Transaction Advisor. CBRE is a global leader in
Real Estate services, and has a team of professionals
based in their London office that is currently mandated
to advise on assets totalling over £5billion. In addition
to advising on transactions that the Montello Real
Estate Opportunity Fund will be involved with, CBRE
will assist in an ongoing role of portfolio management
and, where appropriate, with originating transactions
in the Fund.
Investment Asset Class
The Fund invests in real estate opportunities, with a
focus on the UK, and particularly on London and the
South East of England.
Opportunities include financing, joint ventures, direct
and co-investment in real estate and associated
securities and investments.
The investment objective is to ensure that the Montello
Real Estate Opportunity Fund provides stable, consistent,
high level returns for Investors, with limited volatility.
The fund generates strong and stable cash flows while
taking steps to preserve initial capital, with a target to
achieve an average total return to investors between
6% and 10% per annum.
Asset Risk Mitigation
Investment risk will be spread over a range of
properties and projects, with consideration also given
to geographical spread. Diversification occurs at
different levels including real estate type, location,
operational status and delivery time.
The Fund takes a range of securities as additional cover
for its assets, including personal guarantees, fixed and
floating charges against assets etc.
Montello does extensive due diligence on each project
and partner it works with, including obtaining full credit
reports, company history and other industry searches,
and uses the same underwriting procedures as, and has
access to the same fraud detection systems used by,
the mainstream banking industry.
Structure of the Fund
The Fund is a Luxembourg SICAV-SIF, open to well
informed, sophisticated and other qualifying investors,
corporate entities, trustees and other investment
vehicles such as off-shore bonds and platforms.
Investor reporting
The Fund has a monthly factsheet detailing the fund’s
performance. Investors also receive a quarterly update
and a full report on the Fund annually.
Who we are
Montello’s directors come from top-tier backgrounds in
law and property:
CHRISTIAN FAES LLB (Hons)
ex-Clifford Chance, Deutsche Bank
IAN SUTHERLAND LLB (Hons), LLM (Hons)
ex-Clifford Chance, WilmerHale
IAN THOMAS BSc (Hons) MRICS
ex-SEGRO, Ballymore Property
[THE MONTELLO REAL ESTATE OPPORTUNITY FUND] CONSOLIDATES
MONTELLO’S POSITION IN THE MARKET AS A ‘ONE STOP SHOP’ FOR
REAL ESTATE ENTREPRENEURS... ABLE TO FUND DEVELOPERS FOR THE
AQUISITION OF A PROPERTY THROUGH BRIDGING FINANCE THROUGH
TO THE DEVELOPMENT AND COMPLETION OF A PROJECT’
Montello launches new fund (8 January 2014)
‘
Important Notice : this document has been issued on behalf on the LFP I Sicav SIF S.A. – Montello Real Estate Opportunity Fund (The Fund), which is authorised by the Commission de
Surveillance du Secteur Financier. This document is intended for discussion purposes only and does not create any legally binding obligations on the part of the Fund. Without limitation,
this document does not constitute an offer, an invitation to offer or a recommendation to enter into any transaction. When making an investment decision, you should rely solely on
the final documentation relating to the transaction and not the summary contained herein. The transactions and product mentioned herein may not be appropriate for all investors and
before entering into any transaction you should take steps to ensure that you fully understand the transaction and have made an independent assessment of the appropriateness of the
transaction in light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction. We recommend that you seek advice from your
own tax and legal advisors in making this assessment. The information contained in this document is based on material we believe to be reliable. However, we do not represent that it is
accurate, current, complete or error free. Assumptions, estimates and opinions contained in this document constitute our judgment as of the date of the document and are subject to
change without notice. The underlying investments in the Fund consist wholly or substantially of real property; the value of the real property is highly volatile and under certain market
conditions investors seeking to redeem their holdings may experience significant restrictions or delays. Any projections are based on a number of assumptions as to market conditions
and there can be no guarantee that any projected results will be achieved. Past performance is not a guarantee of future results. The distribution of this document and availability of this
product in certain jurisdictions may be restricted by law. You may not distribute this document, in whole or in part, without our express written permission. m
www.montello.co.uk
101 NEW CAVENDISH ST, LONDON W1W 6XH
TEL: +44 800 130 3388
www.montello.co.uk
REAL ESTATE
OPPORTUNITY FUND