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| Fund Overview | The senior management of APN FM all have significant experience in their fields. They include CEO Real Estate Securities, Michael Doble who has 25 years'experience having held various senior roles specialising in real estate valuation, consultancy and funds management. Immediately prior to joining APN in 2003 he was Head of Property at ANZ Funds Management. He is a fellow of the Australian Property Institute and FINSIA as well as holding a Bachelor of Business (Property). 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 | The Fund returned 9.05% for the quarter ended 30 June 2016, underperforming the S&P/ASX 300 Property Accumulation Index by 0.18%. The stocks impacting the Fund's performance relative to the AREIT Index were due to the Fund's overweight positions in underperforming stocks such as Charter Hall Retail (CQR) and Cromwell Group (CMW), along with underweight positions in relatively stronger stocks like Dexus Property Group which was up 16.18%. Click below to read the complete Fund Manager's Report. |
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