| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| 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 | Third quarter results and updates from many of the Fund's investees had meaningful impact on monthly returns. Top contributors included Brixmor (US Retail) and Safestore (UK Storage). Two of the biggest detractors in the month, Cubesmart (US Storage) and Ventas (US Healthcare), delivered results that failed to meet expectations. Both Cubesmart and Ventas were negatively impacted by near-term elevated supply. In both cases, Quay noted they continue to look beyond the near-term volatility of quarterly earnings and focus on the long-term fundamentals. Closer to home, Quay's view is that the expectation of a 'lower for longer' interest rate environment is now well entrenched. They believe Quantitative Easing (QE) may be coming to Australia but will likely do little to revive the economy without meaningful fiscal support. |
| More Information |
