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| 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 | Impacting performance in September was across-the-board weakness in the Fund's US REIT exposures, as the US 10-year bond yield rose to +3.1% in the later stages of the month. Performance was also impacted by continued weakness in the HK property names from trade war fears and the strength of the HKD. The largest detractors were Ventas (US Healthcare), Cubesmart (US Storage) and Scentre (Australian Retail). Positive contributors included Unite (UK Student Accommodation), RLJ (US Hotels) and Essex (US Multifamily). Quay noted that during the month they toured Singapore, the UK, Hong Kong and the USA, meeting with numerous management teams from their investees, their competitors and potential investment opportunities. Quay noted they came away with a confident outlook. |
| More Information |
