| 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 in March included LEG Immobilien (German residential), Scentre Group (Australian retail) and Stag Industrial (US Industrial). Detractors were dominated by the Fund's UK exposures due to ongoing Brexit concerns; Empiric (UK student accommodation) and Safestore (UK and European storage). Quay noted there was very little news regarding their investees and they remain comfortable with their current exposure, risk profile and outlook. There were no changes to the Fund during the month, however they've kept 6% of the portfolio in cash in order to take advantage of any risk-off event in Europe relating to Brexit. |
| More Information |
