Title: GB00BY7R8K77 PRIIP KID URL Source: https://doc.morningstar.com/document/e5fdb53533cde056a75d1344d5b090de.msdoc/?clientid=ajbell&key=805803a4ca9fc338 Markdown Content: Page 1 of 3 # ! # Key Information Document # Purpose This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. # Product # Schroder European Real Estate Investment Trust Plc # ISIN: (GB00BY7R8K77) This product is listed on the London Stock Exchange, and the Johannesburg Stock exchange, and is governed by its Board of Directors. The Board has appointed Schroder Real Estate Investment Management Limited as its investment manager and accounting agent and to prepare this Key Information Document. Schroder Real Estate Investment Management Limited is a member of the Schroders Group and is authorised and regulated by the Financial Conduct Authority (FCA). For more information on this product please refer to https://www.schroders.com/en/ uk/private-investor/fund-centre/funds-in-focus/investment-trusts/schroders-investment-trusts/schroder-european-real-estate-investment-trust or call one of our Investor Services team on 0800 718 777. This document was produced on 01/05/2025. You are about to purchase a product that is not simple and may be difficult to understand. # What is this product? Type This is a closed-ended investment company incorporated in England and Wales that qualifies as a real estate investment trust. Investment Objective and Policy Investment Objective: The investment objective of the Company is to provide shareholders with a regular and attractive level of income return together with the potential for long-term income and capital growth through investing in commercial real estate in Continental Europe. Investment Policy: The investment policy of the Company is to hold a diversified portfolio of commercial real estate in Continental Europe with good property fundamentals. The Company may invest directly in real estate assets (both listed and unlisted) or through investment in special purpose vehicles, partnerships, trusts or other structures. The Company invests in a portfolio of institutional grade income-producing properties with low vacancy and creditworthy tenants. In addition, the portfolio is diversified by location, use, size, lease duration and tenant concentration. The Company has the ability to invest in any country in Continental Europe, although preference is given to mature and liquid markets. The Company invests principally in the office, retail, logistics and light industrial property sectors. It may also invest in other sectors including, but not limited to, leisure, residential, healthcare, hotels and student accommodation. The Company is valued with reference to the net asset value of the underlying assets. Shares in the Company are traded on the London Stock Exchange and Johannesburg Stock Exchange and are bought and sold in the market. Typically, at any given time, on any given day, the price you pay for a share will be higher than the price at which you could sell it. The return to an investor is dependent on the performance of the share price, which may rise and fall in the market, and which is largely determined by the performance of the underlying investments. The Company calculates a net asset value on a quarterly basis and announces it to the market. The net asset value per share represents the value of the Company's assets less liabilities, divided by the number of shares in issue. The Company is valued with reference to the value of the underlying assets. The Company borrows for investment purposes. This will magnify any gains or losses made by the Company. Intended retail investor An investment in the Company may be suitable for professionally advised retail investors. An investment in the Company may also be suitable for retail investors who are financially sophisticated, non-advised retail investors who are capable of evaluating the risks and merits of such an investment and who have sufficient resources to bear any loss which may result from such an investment. Recommendation: Investors should seek professional advice or satisfy themselves that they have an understanding of the strategies and techniques employed by the investment manager prior to making an investment. Currency: The sub-fund currency is EUR. The share class currency is EUR. You can get further information about the Company, details of the Company's share price and copies of the Report and Accounts and other documents published by the Company as well as information on the Directors, Terms of Reference of Committees and other governance arrangements from www.schroders.co.uk/ incomegrowth . A paper copy of these documents is available free of charge upon request. You can also refer to this website for additional information such as announcements made by the Company to the market, details on "How to invest", as well as on remuneration policy. # What are the risks and what could I get in return? Risk indicator Lower risk Higher risk The risk indicator assumes you keep the product for 5 years. The risk is considered to be higher if the holding period is shorter. You may not be able to sell your product easily or you may have to sell at a price that significantly impacts on how much you get back. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you. We have classified this product as 6 out of 7, which is the second-highest risk class. A property market downturn may adversely affect performance and real estate assets may be difficult to sell. Investments may be ## 1 2 3 4 5 6 7Page 2 of 3 denominated in currencies other than sterling so exchange rate risk could negatively impact performance. Investment performance information Future returns on your investment will be primarily determined by the performance of the Continental European commercial property assets held in the Company's portfolio. Such performance may be positive or negative depending on a number of factors such as property prices, rents, changes in prospective tenant demand and the financial health of existing tenants. As the Company is listed on the London Stock Exchange, general market movements affecting UK-listed companies may impact the share price performance of the product. General movements in the stock markets could be a result of political, regulatory, market, economic or social developments at a local, regional and global level. All property investments are denominated in euros at source. The product has a Continental European investment strategy with commercial property assets currently held in France, Germany and The Netherlands. No single relevant benchmark exists but the product calculates performance measures such as its NAV total return and individual property performance. What could affect my return positively? Higher returns may be generated where Continental European commercial property values in countries which the Company invests increase; estimated rental values increase; and any vacancy within the property portfolio falls. Such conditions could therefore lead to an investment gain in the product. What could affect my return negatively? Lower returns may be generated where Continental European commercial property values in countries which the Company invests decrease; estimated rental values decrease; and any vacancy within the property portfolio increases. Such conditions could therefore lead to an investment loss in the product. The French tax authority is proceeding with a tax audit in relation to the Group's SIIC structure. As part of the ongoing tax audit, a formal 'Proposal for Adjustment' has been received from the French tax authority which includes a proposed penalty on any tax found ultimately due. Including the application of interest and penalties, the potential exposure for the Group is expected to be up to €14.2 million. Based on external tax and legal advice received at the time of implementation, and which has continued to be reviewed on an ongoing basis, the Board continues to believe that an outflow is not probable and therefore no provision is recognised. The Company does not have a maturity date. In difficult market conditions investors may receive less than that initially invested upon a sale of Company shares. Under severe market conditions, for example a significant fall in value of the Continental European commercial property markets in which the Company invests, investors may receive considerably less than the amount that was invested upon a sale of Company shares and, in an extreme situation, may lose all their money invested in the Company. # What happens if Schroder European Real Estate Investment Trust plc is unable to pay out? As a shareholder of Schroder European Real Estate Investment Trust plc you would not be able to make a claim to the Financial Services Compensation Scheme about the Company in the event that the Company is unable to pay out. # What are the costs? Costs over time The Reduction in Yield (RIY) shows what impact the total costs you pay will have on the investment return you might get. The total costs take into account one-off, ongoing and incidental costs. The amounts shown here are the cumulative costs of the product itself, for three different holding periods. They include potential early exit penalties. The figures assume you invest GBP 10000. The figures are estimates and may change in the future. Investment £10,000.00 Scenarios If you cash in after 1 year If you cash in after 3 years If you cash in at 5 years Total costs £259.00 £777.00 £1,295.00 Impact on return (RIY) per year 2.59% 2.59% 2.59% The person selling or advising you about this product may charge you other costs. If so, this person will provide you with information about these costs, and show you the impact that all costs will have on your investment over time. Page 3 of 3 Composition of costs The table below shows: - the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period; - the meaning of the different cost categories. # Cost Composition This table shows the impact on return per year One-off costs Entry costs 0.00% The impact of the costs you pay when entering your investment. This is the most you will pay, and you could pay less. Exit costs 0.00% The impact of the costs when exiting your investment. Ongoing costs Portfolio transaction costs 0.00% The impact of the costs that we take each year for managing your investments. Other ongoing costs 2.59% The impact of the costs that we take each year for managing your investments. The 2.59% represents Fund costs comprising the investment management fee of 1.10%, together with items such as audit fees, tax fees, depositary fees and broker fees. Incidental costs Performance fees 0.00% No performance fees are applied. Carried interests 0.00% No carried interest is applied. # How long should I hold it and can I take money out early? Investors are free to disinvest at any time. In order to seek to minimise the effect of shorter term cyclical fluctuations in the market, the recommended minimum holding period is at least 5 years. Shares in the Company may be bought and sold at any time on the London Stock Exchange. # How can I complain? Should you wish to complain about your investment in the Company, or about Schroders, please write to the Board c/o the Company Secretary, Schroder Investment Management Limited, 1 London Wall Place, London, EC2Y 5AU or send an email to: realestatecomplaints@schroders.com. If you have a complaint about financial advice you have received in relation to the Company, or the service you have received when placing transactions in the Company through a third party, please direct your complaint to your adviser or third party accordingly. # Other relevant information Depending on how you buy the fund you may incur other costs, including broker commission, platform fees and Stamp Duty. The distributor will provide you with additional documents where necessary. Tax Legislation: The Company is subject to UK tax legislation which may have an impact on your personal tax position. This Key Information Document is updated at least every 12 months, unless there are any ad hoc changes. The cost and risk calculations included in this Key Information Document follow the methodology prescribed by the rules of the FCA.