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| Fund Overview | Steven Chai is the Portfolio Manager of this Fund, who joined APN in July 2008. Prior to this, Chai was a Senior Analyst responsible for the management of the unit pricing and performance models for the APN AREIT Fund, the APN Property for Income funds and the APN Asian REIT Fund. Steven holds a Bachelor of Commerce Degree (Finance) from the University of Melbourne and is a CFA charterholder. The Fund aims to deliver a competitive yield with lower risk than the market. The underlying stocks are selected based on a highly disciplined investment approach that focuses on the fundamentals and number of valuation approaches. The Fund provides access to a wide spread of property-based revenue streams that are specifically analysed, selected and weighted with the aim of delivering strong and sustainable income returns. The Fund is suited to medium to long term investors seeking a relatively high monthly income and some capital growth over the long term. |
| Manager Comments | In September, the Fund had 98% allocation in AREITs and rest in cash. Majority of the underlying property sector allocation was in the Retail sector at 65%, followed by Office sector at 20%. The Top 5 stocks holdings made up 57% of APN AREIT Fund. These stocks were Scentre Group, Federation Centres, Stockland, Charter Hall Retail REIT and Westfield Group. Click below to read the complete Fund Manager's Report. |
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