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The Skye Shelter Fund has continued to record significant performance. The Fund is the first Real Estate Investment Trust (REIT) in Nigeria listed on the Nigeria Stock Exchange (NSE).



The Fund started through an Initial Public Offer of 20 million units of N100.00 each on 23 July 2007 and was officially listed on the Nigerian Stock Exchange on 28 February 2008 at a price of N100.00 The Fund closed the year at a price of N111.01, recording a resilient 11% capital appreciation on the floor of the NSE, despite sharp decline in the NSE index within the same period.

In addition, The Fund was able to grow its income by about 51% during the period which is a significant leap compared with the decline experienced by other financial institutions and investment schemes. The Fund is therefore able to pay increased distributions during the period and expects to make interim distributions to its subscribers in 2010.