| 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 | Top contributors included LEG Immobilien (German Residential) and Ventas Inc (US Health). Key detractors included Safestore (European Storage) and Wharf REIC (Hong Kong Retail). Quay noted fear that the strength of the USD (and therefore HKD) would curtail inbound tourism, and therefore retail spending, had a negative impact on the Fund's Hong Kong exposure. Quay also noted, with reporting season over, that they were pleased their investees' results and outlooks were generally in line with their expectations. In their latest report they detail their views on Scentre Group's reported results; their view is that Scentre was oversold and, as a result, Quay took advantage and increased their position. |
| More Information |
