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| Manager | |
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| Fund Overview | The Fund's research use detailed analysis of the underlying assets integrated with financial analysis to determine a sustainable yield and fundamental DCF valuation for the security. Also the Fund believes in having a strong risk control framework. The Fund will also use trading strategies via rebalancing of core portfolio positions as well as taking advantage of shorter duration inefficiencies in markets caused by an imbalance in demand and supply for global REIT and Infrastructure securities. The Fund focuses on generating absolute returns after fees of 12 to 15% pa over the medium to long term. The long-short nature of the Fund combined with Newgate's rigorous investment process ensures returns generated by the Fund are largely independent of rising or falling markets. Newgate is focused on providing investment opportunities primarily within core, value-add, opportunistic and development sectors of direct property and across listed and unlisted real estate and infrastructure securities. The Fund's investment team consists of Tim Hannon, Campbell McComb, Darren Brusnahan, Nishant Narayanaswamy and Nicole Merrillees. |
| Manager Comments | The Fund maintained a very conservative position over the month given heightened volatility in global markets. As a result, there were no material contributors or detractors. The fund held a heavy cash weight (90% of Fund net asset value), an average around 5 positions. Positive contributors to the portfolio were Mirvac Group (MGR) and Sydney Airport (SYD. Negative contributors were Folkestone Group (FLK) and Invest Office Fund (IOF). Click Manager's Report to read more. |
| More Information |
