Booster Investment Management has revealed that the value of its gold kiwifruit and lemon property in Kerikeri may be reduced by $4-5 million.
The property currently represents approximately 16% of the total value of the assets held by the Private Land and Property Portfolio.
Booster, as the manager of the portfolio, has received a draft independent valuation report for the property and is now analysing its details in collaboration with the valuer.
While the impact on the net asset value of the fund is still being determined, the preliminary report suggests a potential decrease of 3 to 3.8%.
Booster has advised investors who are considering buying or selling units to defer their transactions, and the fund has halted the processing of applications or redemptions.
Further announcement will be made to confirm the impact on the fund, after the assessment is completed.
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