| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund will invest in a number of global listed real estate companies, groups or funds. The investment strategy is to make investments in real estate securities at a price that will deliver a real, after inflation, total return of 5% per annum (before costs and fees), inclusive of distributions over a longer-term period. The Investment Strategy is indifferent to the constraints of any index benchmarks and is relatively concentrated in its number of investments. The Fund is expected to own between 20 and 40 securities, and from time to time up to 20% of the portfolio maybe invested in cash. The Fund is $A un-hedged. |
| Manager Comments | Although the Fund fell by -1.3% for the month, it outperformed its benchmark by +0.8%. Approximately +1.6% of the Fund's performance was derived from underlying investments, while the stronger AUD detracted -2.8%. The Manager notes that the RBA's discussion of a neutral cash rate of 3.5% contributed to the strength of the Australian dollar. The biggest positive contributors include Brixmor (US Retail), Hispania (Spain Diversified) and CyrusOne (US Data Centres), while the biggest detractors for the month were Ventas (US Healthcare), Pure Industrial (Canada Industrial) and Mid America Apartments (US Multi-family). |
| More Information |
