| 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 | Quay have been satisfied with their investees' results throughout reporting season. Most of the Fund's investees are meeting or exceeding Quay's expectations and lifting guidance. They highlight the sharp decline in new home sales in the US (an eight month low) as rising construction costs and higher interest rates reduce affordability. Quay see that this is an indication the environment is ripe for the residential accommodation sector. They're beginning to see this play out in recent results, with Multifamily/Apartment REITs reporting a clear improvement in rental growth occupancy. Quay believe that the industrial sector is the most likely real estate sector to be impacted by trade and tariffs. However, the Fund's exposure is relatively small due to near euphoric valuation and a clear surge in new supply, particularly in the US. |
| More Information |
