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| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
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| 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 | Quay emphasise that short-term currency movements can act as either a tailwind or a headwind to performance. However, over time these currency movements become less relevant than the underlying operational performance of the investees. For the quarter, top contributors included STAG (US Industrial), Ventas (US Health) and Shurgard (European Storage). The largest detractors included Hysan (Hong Kong Diversified), Cubesmart (US Storage) and US cash. As at the end of June, the portfolio had relatively low cash (4%) and was invested across 27 companies. Quay noted the cash level is around the lowest in the Fund's history and the number of investees the equal highest. This reflects Quay's view of the attractive valuations currently on offer across their investment universe. |
| More Information |
