Jasper's Secondary Market aims to provide investors with the flexibility to buy and sell units in commercial real estate funds at a time that suits them. This gives investors the potential to sell their holdings early and gives buyers the opportunity to enter a fund closer to a future exit date.
Sellers will be able to place a sell order on the Secondary Market for a fund, once it has been opened by the fund manager. Funds are typically opened up for trading on Jasper's Secondary Market once the fund is fully allocated and a first full valuation of assets is complete. We expect these liquidity windows will generally take place twice a year during the months of May and November, following the release of the latest quarterly report.
Jasper may change the liquidity window dates of a Secondary Market at any time at our discretion.
How do I place a sell order?
You can place a sell order by selecting an ask price of your choosing within a predefined range, which is currently 20% on either side of the fund's latest Unit Price (adjusted NAV) calculation. This ask price represents the minimum price you're willing to receive for your units in the fund.
You will be provided with an estimated sale proceeds amount based on your ask price and the total number of units in your sell order. These proceeds remain an estimate until a match is found and the average matched per unit price is confirmed.
When an order is placed, our system will first try and match it with existing buy orders that meet your ask price. If no orders are available to be matched due to a spread between bid and ask prices, orders will remain available for matching on the Secondary Market.
There is no guarantee that you will be able to exit your investments on the Secondary Market or at what price an exit (if any) will be achieved. Units will not be listed on any public securities exchange. Investments offered by Jasper should be considered illiquid.