Absolute Asset Management's Asian REIT Property Fund lost -9.89% in February on lower global equity markets, outperforming the Bloomberg Asia REIT Index by +6.64%.
Only the Malaysian Amanah Harta Tahah 2 (up over 20%) and the Ascendas India Trust reported gains during the month. The Fund continued to decrease its exposure to Australian REITs, as the sector outlooks remains negative, thus increasing the Fund's cash holdings. The manager however believes the Asian REIT sector remains undervalued, with dividend yields ranging between 10% and 17%, and therefore represents excellent long term value.
Absolute's other funds, the Macro Diversified Fund and Absolute Trading 1 Fund, both performed significantly better in February than the REIT Fund, down -2.43% and up +0.58% respectively.
