PITCH helps charities fulfil their charitable purpose by achieving an attractive return from property investment.
Key Fund Data*
| Gross asset value | £528.40m |
| Net asset value | £460.94m |
| Number of assets | 41 |
| Fund yield (rolling 12-months as % of NAV) | 5.7% |
| Vacancy rate | 7.5% |
| Weighted av. unexpired lease term (to break) | 6.6 years (4.8 years) |
| Distribution history (p.p.u - pence per unit) |
Jan 2025: 0.3146 p.p.u Feb 2025: 0.3182 p.p.u Mar 2025: 0.3438 p.p.u |
| Borrowings (GAV) | 12.7% |
| Total expense ratio (GAV) | 0.71% |
| Portfolio turnover ratio | 0.0% |
| Rent subject to fixed uplifts | 27.8% |
| EPC ratings A-C (based on ERV) | 94.4% |
| Year End | 31 December |
| Sedol number | B0517P1 |
| ISIN number | GB00B0517P11 |
| *Data as at 31 March 2025 | |
Historic Fund Returns
*Annualised returns
Annual Fund Returns
Data as at 31 March 2025
Monthly Fund Financial Statistics
| Date | Bid p.p.u* | Offer p.p.u | NAV price p.p.u | NAV (£m) | p.p.u paid |
| 31 Mar 25 | 74.10 | 76.40 | 75.14 | 460.94 | 0.344 |
| 28 Feb 25 | 73.50 | 75.79 | 74.54 | 457.00 | 0.318 |
| 31 Jan 25 | 73.49 | 75.80 | 74.54 | 456.00 | 0.315 |
| 31 Dec 24 | 73.36 | 75.56 | 74.36 | 478.00 | 0.360 |
| 30 Nov 24 | 73.12 | 75.36 | 74.14 | 476.00 | 0.412 |
| 31 Oct 24 | 73.03 | 75.27 | 74.05 | 474.00 | 0.353 |
| 30 Sep 24 | 72.80 | 75.00 | 73.80 | 480.00 | 0.365 |
| 31 Aug 24 | 72.84 | 75.05 | 73.84 | 480.00 | 0.359 |
| 31 Jul 24 | 72.90 | 75.10 | 73.90 | 480.00 | 0.336 |
| 30 June 24 | 72.95 | 75.15 | 73.95 | 480.00 | 0.438 |
| 31 May 24 | 72.88 | 75.07 | 73.88 | 479.00 | 0.298 |
| 30 Apr 24 | 72.98 | 75.17 | 73.98 | 480.00 | 0.328 |
| 31 Mar 24 | 73.13 | 75.28 | 74.11 | 492.00 | 0.412 |
| *p.p.u is pence per unit | |||||
Historic Fund Data Available Upon Request
If you require historic data not listed in the tables above, please contact Georgie Lockwood.
Annual Pricing & Income Distribution
| Annual accounting period | Highest offer price | Lowest bid price | Gross yield p.a. | Total NAV | NAV per unit | Total distribution per unit p.a. | Units in issue |
| 31 Dec 2024 | £0.76 | £0.72 | 6.0% | £478,347,986 | £0.7436 | £0.03601 | 643,269,892 |
| 31 Dec 2023 | £0.81 | £0.74 | 6.2% | £520,851,123 | £0.7519 | £0.03475 | 692,737,613 |
| 31 Dec 2022 | £1.04 | £0.79 | 5.3% | £578,123,045 | £0.8159 | £0.03970 | 720,061,725 |
| 31 Dec 2021 | £0.95 | £0.81 | 4.1% | £670,735,625 | £0.9654 | £0.04000 | 694,740,633 |
| 31 Dec 2020 | £0.89 | £0.80 | 4.5% | £568,257,815 | £0.8221 | £0.03740 | 691,203,307 |
Fund Fees
PITCH Fund £528m (GAV)
- TER 0.71% (GAV) 12 month rolling figure
- TER 0.81% (NAV) 12 month rolling figure
Total Expense Ratio (TER) for the Fund includes:
- Fund Management fee, Trust Manager's fee, Investor's Committee cost, Trustee fee, Administrator, Despositary, Valuer, Audit and MSCI (performance measurement).
Fund Management Fee Basis:
- < £40m GAV 0.65%
- > £40m GAV 0.50%
- Property Management fee included as part of the Fund Management Fee
- No initial charge for investment
Source: Swiss Life Asset Managers UK (data as at 31 March 2025)
Fund Report & Accounts
Fund Documentation Request
To receive all of the formal documents for PITCH (Subscription Form, Fund Summary & Trust Deed etc.), please contact Georgie Lockwood.
For Investor Enquiries:
James Lloyd
Head of Charities and Endowments
Tel: +44 207 291 6664
Email: james.lloyd@swisslife-am.com
The value of investments may go down as well as up, and investors may not get back all or any amount originally invested. Income or other returns from investments are subject to change and may be lower than estimated. Past performance is not a reliable indicator of future performance.