GFI France Valley Patrimoine

First Groupement Forestier d'Investissement with AMF approval (Visa G.F.I. n° 19-01)

The Groupement Forestier d’investissement (GFI) is a collective vehicle whose articles of association are very similar to those of a SCPI. Its aim is to acquire and manage forests in mainland France on a sustainable basis. These forests are acquired according to very strict specifications drawn up by the investment team (soil quality, species diversity, climatic characteristics, maturity of wood, etc.). It enables investors, both individuals and legal entities, to benefit from asset diversification by gaining exposure to tangible assets with strong environmental qualities and low correlation to financial markets. There is a risk of capital loss.

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Heritage

GFI Patrimoine’s forests, spread over 10 regions of France, are made up of a variety of species (69% hardwoods, 31% softwoods). This diversification, while desirable, does not eliminate the risks associated with this investment: there is a risk of capital
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Forest selection

France Valley, manager of the Groupement Forestier d’Investissement GFI France Valley Patrimoine, researches, studies and negotiates the acquisition of forests. The choice is made on the basis of the forest site (soils, rainfall, historical temperatures, access, slopes, exposure, etc.) and the stands (species, density, quality, health, outlets). All forests are also subject to a counter-assessment by an independent forestry expert.
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Why choose GFI France Valley Patrimoine?

A responsible investment

The forest management of GFI France Valley Patrimoine meets 5 of the 17 Sustainable Development Goals (SDGs). As such, this investment solution falls under Article 9 of the European Union’s Sustainable Finance Disclosure Regulation (SFDR) classification. In other words, GFI aims to improve environmental and social performance.

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Sustainability information

The investment strategy of this financial product is to purchase forest land with the sustainable objective of protecting biodiversity and mitigating climate change. The achievement of these objectives will be measured using two sustainability indicators, which will also serve as indicators that this product does not significantly undermine other sustainability factors. These indicators are verified internally by France Valley and audited annually by Novethic.

Documentation

Greenfin Label

GFI France Valley Patrimoine has been awarded the Greenfin label.
This reference tool, created and supported by the French Ministry of Ecological and Solidarity Transition, guarantees investors, both institutional and individual, that the investment product effectively contributes to financing the energy and ecological transition

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Performance

The performance of GFI France Valley Patrimoine is based on two elements: the return from wood harvesting (not guaranteed, it is by nature irregular even if the number of forests allows a certain smoothing), and the evolution of the value of the units (up or down), according to the evolution of the forest market. France Valley believes that the forest and wood markets should generate positive returns, but the capital invested and the return are not guaranteed.

Unit liquidity

The liquidity of units is not guaranteed, either in terms of speed or value. In the case of GFI France Valley Patrimoine, liquidity is organized according to the same mechanism as for real estate SCPIs: each new subscription is used first and foremost to buy back the units of outgoing shareholders at the last published withdrawal value. Liquidity therefore depends on the number of subscription requests received by France Valley.

Taxation

75% tax relief on transfer duties, with no limit on the amount or lineage, and no holding requirement, provided that the forests are managed sustainably by France Valley over a period of thirty years.
100% IFI tax exemption, subject to holding less than 10% of the GFI’s capital and in return for a risk of capital loss.

Insurance

GFI France Valley Patrimoine systematically takes out insurance policies that partially cover the value of its assets against storms, fire, and sometimes against frost or heavy snow (there is no insurance against phytosanitary risk). In addition, the diversity of GFI’s holdings in terms of geography, species and forest maturity limits these risks. Finally, as part of the preliminary analysis of the forests acquired by GFI, France Valley is studying their adaptation to climate change.

Fees

Investment fees (subscription commission). There are no exit fees; Recurring management fees, which are deducted from the return on GFI assets; Costs related to the acquisition of forestry assets, which are capitalized in the value of GFI units.

Risks

Although forestry investments are based on a tangible asset, there is no capital guarantee, as the value of a forest is subject to fluctuations in supply and demand. France Valley cannot provide any guarantee as to the performance or value of the shares. In addition, the above tax benefits are not automatic; they depend on the situation of each individual, which must be examined individually. More specifically, forestry investments are subject to weather risks (storms, frost, drought), fire and health risks (fungus, insects); the latter cannot be insured, and coverage for the first two is examined on a case-by-case basis.

Investment Risk Scale

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