For investors in Hong Kong

Global Real Estate Equity Income Fund

Actively managed, high-conviction fund focused on the managers’ best ideas in listed property stocks and REITs, and aiming to deliver long-term capital appreciation

ISIN
IE0033534441

NAV
USD 13.92
As of 2023/03/31

1-Day Change
USD 0.24 (1.75%)
As of 2023/03/31

Morningstar Rating
As of 2023/02/28

Key investment risks:

  • The Fund's investments in equities are subject to equity market risk due to fluctuation of securities values.
  • Investments in the Fund involve general investment, currency, hedging, economic, political, policy, foreign exchange, liquidity, tax, legal, regulatory, securities financing transactions related and small/ mid-capitalisation companies related

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  • risks. In extreme market conditions, you may lose your entire investment.
  • The Fund may invest in financial derivatives instruments for investment and efficient portfolio management purposes. This may involve counterparty, liquidity, leverage, volatility, valuation, over-the-counter transaction, credit, currency, index, settlement default and interest risks; and the Fund may suffer total or substantial losses.
  • The Fund's investments are concentrated in companies (may include small/ mid capitalization companies, REITs) engaged in or related to the property industry and may be more volatile and are subject to REITs and property related companies risks.
  • The Fund may invest in developing markets and involve increased risks.
  • The Fund may at its discretion pay dividends (i) pay dividends out of the capital of the Fund, and/ or (ii) pay dividends out of gross income while charging all or part of the fees and expenses to the capital of the Fund, resulting in an increase in distributable income available for the payment of dividends by the Fund and therefore, the Fund may effectively pay dividends out of capital. This may result in an immediate reduction of the Fund’s net asset value per share, and it amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment.
  • Investors should not only base on this document alone to make investment decisions and should read the offering documents including the risk factors for further details.

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Overview

INVESTMENT OBJECTIVE

The Fund aims to provide a positive level of income and to seek to achieve capital growth over the long-term (5 years or more), with a focus on income generation.

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The Fund invests at least 80% of its assets in shares (equities) of companies engaged in or related to the property industry and equity-related securities, including real estate investment trusts (REITs). The Fund may invest in companies of any size, in any country.

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ABOUT THIS FUND

  • A broad investable universe and selective approach enables the team to identify stocks with attractive dividend yield and growth characteristics
  • Managed by a global team of experts based in Singapore, the UK, and the US with more than 90 years’ collective investment experience
  • Offers a liquid means of diversifying into global real estate and benefitting from powerful secular themes influencing the asset class

PORTFOLIO MANAGEMENT

Guy Barnard, CFA

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2003. Joined Firm in 2006.

Tim Gibson

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2001. Joined Firm in 2011.

Greg Kuhl, CFA

Portfolio Manager

Industry since 2005. Joined Firm in 2015.

Performance

Discrete Performance (%)
As of 2022/12/31
A3q USD
 
Quarter End
As of 2022/12/31
Dec-2021 - Dec-2022 Dec-2020 - Dec-2021 Dec-2019 - Dec-2020 Dec-2018 - Dec-2019 Dec-2017 - Dec-2018
A3q USD -23.08 20.83 0.54 29.24 -4.94
Calendar Year Returns (%)
As of 2022/12/31
A3q USD
2022 2021 2020 2019 2018
A3q USD -23.08 20.83 0.54 29.24 -4.94
Calendar Year Returns (%)
Year A3q USD Index
2022 -23.08 -24.45
2021 20.83 27.87
2020 0.54 -9.16
2019 29.24 23.58
2018 -4.94 -5.55
2017 15.69 15.01
2016 3.09 4.62
2015 -4.68 -0.41
2014 12.16 14.73
2013 6.01 2.24
2012 33.56 29.85
2011 -16.01 -8.14
2010 18.20 20.03
2009 51.45 41.25
2008 -50.16 -48.90
2007 -12.94 -4.65
2006 21.57 43.72
2005 5.05 -
2004 17.62 -
2003 from 29/09/2003 5.90 -
FEE INFORMATION
Initial Charge 5.00%
Annual Charge 1.25%
Ongoing Charge
(As of 2021/12/31)
2.17%

Portfolio

Top Holdings (As of 2023/02/28)
% OF FUND
VICI Properties Inc 6.34
Prologis Inc 6.03
Welltower Inc 4.98
National Retail Properties Inc 4.48
Life Storage Inc 4.27
Digital Realty Trust Inc 4.24
Agree Realty Corp 4.00
Spirit Realty Capital Inc 3.81
Healthpeak Properties Inc 3.75
STAG Industrial Inc 3.72
Total 45.62

Documents