 Skilled management
Higher marks for safety: safety advantages in the investor's
favour (above-average credit standing and, for instance, an oligopoly on
the part of the fund management) justify a mark of 2.5 plus. With long-term
tenancy agreements and fair market prices we award a mark of 2 plus. The
precondition for such a mark is that the fund has financial reserves and
human resources that are clearly above the market average (for example: a
large amount of equity and flexible, skilled management which is confirmed
by the balance of performance.) Higher marks for growth: as from a growth
of about 7 % to 9.5 % per annum after tax we award an offer a mark of "2.5"
and a "2" for double-digit returns. |