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| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
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| FUM (millions) | |
| Fund Overview | The Fund's research use detailed analysis of the underlying assets integrated with financial analysis to determine a sustainable yield and fundamental DCF valuation for the security. Also the Fund believes in having a strong risk control framework. The Fund will also use trading strategies via rebalancing of core portfolio positions as well as taking advantage of shorter duration inefficiencies in markets caused by an imbalance in demand and supply for global REIT and Infrastructure securities. The Fund focuses on generating absolute returns after fees of 10 to 12% pa over the medium to long term. The long-short nature of the Fund combined with Newgate's rigorous investment process ensures returns generated by the Fund are largely independent of rising or falling markets. Newgate is focused on providing investment opportunities primarily within core, value-add, opportunistic and development sectors of direct property and across listed and unlisted real estate and infrastructure securities. The Fund's investment team consists of Tim Hannon, Andrew Lewandowski. |
| Manager Comments | Over the September quarter, the Fund returned -2.13%. Newgate noted that, over the quarter, the Fund has been impacted by the market's concerns over the escalation of trade conflict between the USA and China. Positive contributors included Japara Healthcare (JHC), Centuria Industrial REIT (CIP), Sydney Airport (SYD) and Updater (UPD). Detractors included Charter Hall Group (CHC), Mirvac Group (MGR) and Data Exchange (DXN). In their latest report, Newgate describe how the Fund benefited from share price declines in the aged care sector after the ABC's Four Corners report and the Prime Minister's subsequent announcement of a Royal Commission. They also discuss their views on Mirvac Group after the Fund's short position in the company failed to deliver. |
| More Information |
