A

Account

Your investor profile with MoreHarvest, created on registration. Your account lets you buy and sell fund shares, track investments, view documents, receive dividends, and manage payout settings through our web and mobile apps.

Account Opening Fee

A one-time $100 fee is charged on your first share purchase.

This covers:

Anti-money laundering (AML) checks
Identity verification
Account setup and administration

Accredited Investor (Singapore)

An individual or entity meeting the Monetary Authority of Singapore's financial criteria for sophisticated investors.

Requirements (one of the following):

Net personal assets exceeding SGD $2 million, OR
Income of at least SGD $300,000 in the preceding 12 months

Only Singapore Accredited Investors can invest in the Hinoki Fund. You must provide documentation proving your status during onboarding.

Alternative (Local) Name

The localised name given to MoreHarvest properties reflects the common language or cultural context of their location.

Announcement Date

The date MoreHarvest notifies investors of the dividend amount per share for a given period.

This typically occurs before the Ex-Dividend Date, giving investors time to review the upcoming payment.

Assets

Items of value owned by MoreHarvest, including properties, land, cash, and loans to property developers.

Assets are used to calculate the fund's Net Asset Value (NAV). While some assets like cash are liquid, properties are illiquid and take time to sell.

APY (Annual Percentage Yield)

The annualised rate of return generated by the fund over a year, expressed as a percentage.

B

Bamboo

A closed-end fund investing in new property developments on undeveloped land in Kumamoto, Japan.

Key features:

Fixed investment period: approximately 5 years
Target market: Rental accommodations for semiconductor industry workers
Exit strategy: Properties are sold at the end of the period, proceeds distributed to investors

Business Management Visa (BMV)

An investment option where individuals, particularly from Hong Kong or China, can invest in MoreHarvest properties managed under a separate structure.

Some investors use this as part of their application for a Japanese Business Manager Visa. MoreHarvest does not provide immigration advice or guarantee visa approval.

Important: Consult an immigration lawyer or agency for guidance on visa requirements and eligibility.

Buy

A transaction where you purchase shares in a MoreHarvest fund.

Each purchase creates a new lot in your account, tracking the number of shares, purchase price, and maturation status.

C

Cancelled (Transaction)

A Buy or Sell transaction that has been terminated by either MoreHarvest or you.

Common reasons:

Expired share reservation (no payment received within 5 days)
Insufficient funds transferred
Request withdrawn by investor

Capital Gains

The profit made when a property or asset is sold for more than its purchase price.

For MoreHarvest funds, capital gains occur when properties are sold, typically every 10 years, based on market conditions. These gains are distributed to investors as dividends or reflected in increased NAV.

Cayman Islands Monetary Authority (CIMA)

The financial regulator for the Cayman Islands.

MoreHarvest's Special Purpose Companies for the Hinoki and Bamboo funds are registered and regulated by CIMA, which oversees compliance with financial laws and investor protection standards.

Chateau Life

A property management company with 20 years of experience operating residential properties in Japan and a strategic partner of MoreHarvest.

Chateau Life provides property acquisition, development, maintenance, and leasing services to MoreHarvest funds. Many of MoreHarvest's properties are managed by Chateau Life.

Closing Date

For a Mortgage REIT, the date when the first loan repayment is due from the counterparty.

Commercial

A property used exclusively for business purposes, such as offices or retail stores.

Completed (Transaction)

A Buy or Sell transaction that has been successfully finalised.

For Buy transactions, this means payment has been received and shares have been allocated to your account. For Sell transactions, proceeds have been transferred to your bank account.

Cost Basis

The original purchase price of a share in a MoreHarvest fund, used to calculate any gain or loss.

Counterparty

A property developer or operator that borrows money from MoreHarvest.

MoreHarvest provides loans secured by the borrower's property. Interest payments from these loans generate income for the Mortgage REIT fund, which is distributed to you as dividends.

D

Debt

An obligation to repay a sum of money, secured by collateral.

MoreHarvest provides loans to property developers and managers for property purchases or improvements, repaid at either:

Fixed interest rate: Unchanging throughout the loan term
Adjustable rate: Varies with market conditions

Dividend

A payment is distributed to you based on the number of shares you own in a MoreHarvest fund.

Dividends come from rental income (Equity REIT) or interest on loans (Mortgage REIT). MoreHarvest distributes dividends quarterly, minus the expense ratio and any applicable fees.

Dividend Currency

The currency in which dividends are paid.

MoreHarvest pays dividends in United States Dollars (USD), regardless of where properties are located or your country of residence.

Dividend Yield

The percentage of a share's value paid out as dividends annually.

Formula: (Annual Dividends ÷ Investment Value) × 100

Example: You invest $100,000. The fund pays $4,000 in dividends over the year. Your dividend yield is 4%.

Important: Actual yields vary based on rental income, property performance, and expenses. Historical yields don't guarantee future returns.

E

Equity

The value of an asset minus any liabilities, such as a loan.

Example: A property is valued at $1,000,000 with a $500,000 mortgage. The equity is $500,000.

Equity can increase through property appreciation or improvements.

Equity REIT

A real estate investment trust that owns physical properties and generates income primarily from tenant rent.

This differs from a Mortgage REIT, which earns income from interest on property loans rather than owning buildings.

Ex-Dividend Date

The cut-off date for dividend eligibility.

You must own shares before this date to receive the upcoming dividend and they have matured. If you buy shares on or after the ex-dividend date, you'll receive the following dividend instead.

Expense Ratio

The annual fee charged to cover the fund's operating costs, expressed as a percentage of total fund assets.

This covers:

Property maintenance and repairs
Fund administration and compliance
Technology platform costs
Legal and accounting services

The fee is deducted from rental income before dividends are paid to you. Lower expense ratios mean more of the fund's income goes to investors.

F

Fund

A pool of properties or loans owned by MoreHarvest and divided into shares that you can buy.

When you own shares, you own a portion of the fund and receive dividends from its income. MoreHarvest operates multiple funds, each identified by a ticker symbol.

G

Greenfield Site

Undeveloped land with no existing buildings.

MoreHarvest's Bamboo Fund invests in greenfield sites in Kumamoto, constructing new properties from the ground up to meet demand from the semiconductor industry.

Gross

Income received from a MoreHarvest fund or investment before any deductions, such as expenses, taxes, or fees.

H

Hinoki

MoreHarvest's open-ended fund owns residential properties across Japan.

Key features:

No fixed end date (you can invest and withdraw anytime after maturation)
Generates income from tenant rent
Distributes dividends annually
Currently owns 17 properties across Japan

Investment minimum: $100,000 USD (first investment), $50,000 USD (subsequent investments)

Hold Period

The duration you retain an investment before selling.

For MoreHarvest's real estate investments, properties are typically held for up to 10 years. Any profits from sales are distributed to you as dividends or reflected in increased NAV.

I

Issuer

In a Mortgage REIT, the entity (MoreHarvest) that provides the loan to property developers or managers.

K

Know Your Customer (KYC)

A mandatory process used by MoreHarvest to verify your identity.

KYC involves collecting information to prevent fraud, money laundering, terrorist financing, and other financial risks, ensuring the security of our services.

Required documents typically include:

Government-issued ID (passport or driver's licence)
Proof of address (utility bill or bank statement)
Proof of Accredited Investor status (for Singapore investors)

Kumamoto

A prefecture (region) in southern Japan experiencing rapid growth due to major semiconductor manufacturers (TSMC, Sony) building new factories.

MoreHarvest's Bamboo and Short-Term funds invest in residential properties in Kumamoto to house workers in this growing industry.

L

Legal Structure

The type of legal entity under which a MoreHarvest fund operates.

MoreHarvest funds operate as Real Estate Investment Trusts (REITs) through Special Purpose Companies (SPCs) registered in the Cayman Islands.

Liabilities

Financial obligations the fund owes, including:

Mortgages on properties
Unpaid bills and expenses
Management fees owed
Legal or tax obligations

Liabilities are subtracted from assets when calculating Net Asset Value (NAV).

Liquidity

How quickly an asset can be sold and converted to cash without losing significant value.

Liquid assets: Fund shares can be sold at the current NAV price.

Illiquid assets: Direct property ownership takes months to sell.

Loan Type

The repayment structure of a loan agreed upon with a counterparty.

Two types:

Fixed-rate: Consistent interest rate throughout the loan term
Variable-rate: Interest rate fluctuates with market conditions

Lot(s)

A record of a specific share purchase.

Each time you buy shares, it creates a new lot showing:

Number of shares purchased
Purchase price per share
Purchase date
Maturation status (a lot must be matured before you are entitled to that dividend)
Current share price gain or loss

M

Maintenance Fee

A fee equivalent to the Expense Ratio, deducted from dividends before payout to cover fund operating costs.

This fee is only charged directly to you if you sell shares during the maturation period (before 1 year). Otherwise, it's automatically deducted from rental income before dividends are distributed.

Maturation Period

A one-year waiting period after buying shares.

During this period:

You earn dividends, but they accumulate in your account
You cannot withdraw dividend payments
If you sell shares, you forfeit all accrued dividends and pay the 1% annual management fee

After one year, your shares mature:

You are entitled to dividend payments which will be paid on your maturation date and dividend payout date
You can sell shares with no penalty (only bank transfer fees apply)

Important: Each share purchase has its own maturation period. If you buy shares in January and again in June, they mature separately.

Minimum Dividend Payment

A customisable setting allowing you to specify a minimum dividend amount to accrue before payout.

This helps reduce the impact of bank transfer fees by ensuring dividends are paid only when they exceed the set threshold on the next payout date.

Default setting: $100

How to change: Profile → Payout settings → Set minimum dividend amount

Example: You set a $500 minimum. Your quarterly dividends of $120, $130, $125, and $140 accumulate until they reach $500, then pay out in 1-2 transfers instead of 4, saving you $60-90 in bank fees annually.

Monetary Authority of Singapore (MAS)

Singapore's central bank and financial regulator, responsible for overseeing banking, insurance, and securities services.

MAS regulates MoreHarvest's investment offerings to Singapore residents, including Accredited Investor eligibility requirements and fund approval processes.

Mortgage REIT

A real estate investment trust that lends money to property developers or operators, secured by real estate collateral.

Income comes from interest payments on these loans, which is distributed to you as dividends. Unlike an Equity REIT, a Mortgage REIT doesn't own physical properties—it owns the debt.

Net Asset Value (NAV)

The total value of a fund's assets (properties, loans, cash) minus its liabilities (debts, expenses).

NAV determines the price of each share:

NAV per share = (Total Assets - Total Liabilities) ÷ Number of Shares

MoreHarvest recalculates NAV monthly. When NAV increases, your share price increases. When NAV decreases, your share price decreases.

O

Occupancy

The percentage of apartments in a MoreHarvest property that are occupied by rent-paying tenants.

Higher occupancy rates result in greater income from the property.

Example: A property with 50 units and 48 rented apartments has 96% occupancy.

MoreHarvest historical average: 96%+ occupancy annually

Onboarding

The process of becoming a verified MoreHarvest investor.

Steps include:

Create an account
Complete Know Your Customer (KYC) verification
Provide proof of identity and address
Confirm Accredited Investor status (Singapore investors only)
Add bank account details for dividend payments

Once verified, you can buy and sell fund shares.

Open-Ended Fund

A fund with no fixed end date.

You can invest at any time and request to sell shares whenever you choose. The fund continues operating indefinitely, buying and selling properties as needed.

Important: Selling shares before they have matured will result in you losing your dividend entitlement, but you will still be charged the annual maintenance fee.

Owned By

The entity that owns a property.

This may be:

MoreHarvest (via an equity holding in an Equity REIT)
A partner property developer to whom MoreHarvest has provided a loan (via a mortgage holding in a Mortgage REIT)

P

Payout Date

The date when MoreHarvest distributes dividend payments to shareholders of a fund, deposited into your nominated bank account.

Dividends are typically paid annually, subject to your minimum dividend payment settings.

Pending (Buy/Sell Transaction)

A transaction status indicating MoreHarvest is processing your request.

For a Buy transaction: MoreHarvest is awaiting your bank transfer, typically processed within 5 days.

For a Sell transaction: MoreHarvest is processing the request, typically completed within 10 days.

Property Type

The classification of a property.

Types include:

Residential: Housing for individuals or families
Commercial: Offices or retail stores
Mixed-use: Combination of residential and commercial

R

Rate

For a Mortgage REIT, the annual interest rate charged on a loan provided to property developers or managers.

Example: MoreHarvest provides a $1 million loan at a 5% fixed rate. The borrower pays $50,000 in interest annually.

Real Estate Investment Trust (REIT)

A company that owns or finances income-producing properties.

REITs allow you to invest in real estate without buying physical property.

Benefits include:

Liquidity: Easier to buy and sell than direct property ownership
Diversification: Own shares in multiple properties
Professional management: Experts handle property operations

MoreHarvest operates REITs that own properties (Equity REIT) and provide property loans (Mortgage REIT).

Reserved (Buy Transaction)

The status after you request to buy shares but before payment is confirmed.

MoreHarvest holds your shares for 5 working days. To complete the purchase, transfer funds to the provided bank account within this period. If payment isn't received, the reservation expires and shares are released.

Revenue

The annual income generated by a MoreHarvest property (e.g., rent) or loan (e.g., interest payments).

Revenue is used to pay dividends to investors after deducting the expense ratio and operating costs.

S

Segregated Portfolio

A legally separate pool of assets within MoreHarvest's corporate structure.

Each MoreHarvest fund operates as a segregated portfolio, meaning the assets and liabilities of one fund don't affect another. If one portfolio faces financial difficulties, other portfolios remain protected.

A unit of investment representing ownership in a MoreHarvest fund.

Shares entitle you to dividends, and their price can fluctuate based on the fund's NAV, which is recalculated monthly.

Special Purpose Company (SPC)

A legal entity created for a specific purpose, typically to hold assets and limit liability for a particular fund or project.

MoreHarvest uses SPCs registered in the Cayman Islands to operate each fund separately. The Hinoki Fund and Bamboo Fund each have their own SPC, which owns the properties and distributes dividends to investors.

T

Ticker

A shorthand symbol representing a MoreHarvest fund available for investment.

Example: MHJP represents the MoreHarvest Japan Fund (Hinoki).

Transaction

A record of a buy or sell order for a MoreHarvest fund share.

Each transaction is assigned a unique ID and can be viewed in your Transaction History within the app.

U

Units

The number of individual leases within a property.

V

Verified

Verified status is granted to your account upon successful completion of the Know Your Customer (KYC) process.

Once verified, you can reserve, buy, or sell MoreHarvest fund shares.

Y

Yield

The annual income generated from an investment, expressed as a percentage of the investment's value.

Formula: (Annual Dividends ÷ Investment Value) × 100

Example: You invest $100,000. The fund pays $4,000 in dividends over the year. Your yield is 4%.

Important: Yield fluctuates based on rental income, property performance, and expenses. Historical yields don't guarantee future returns.