 |
Ordinary Shares |
 |
Price (p) | 149.00 |
Published NAV | 170.30 |
Yield | 3.89 |
Discount | -13.91 |
|
Prices correct as of close
2010-09-06.
Last Published NAV is as at the previous business day.
Source: Trustnet |
Sigma Shares |
|
Price (p) | 66.70 |
Published NAV | 88.10 |
Yield | 3.00 |
Discount | -24.69 |
|
Prices correct as of close
2010-09-06.
Last Published NAV is as at the previous business day.
Source: Trustnet |
|
For Ordinary Shares
July 2010
June 2010
May 2010
April 2010
March 2010
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December 2009
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December 2004
Property share prices escalated rapidly in December - by 10% in the UK and 3.5% in Europe ex UK. This surge in prices was surprising given that the month saw little fresh industry or trading news, but with quiet markets and low volumes some determined yearend buying by a few funds pushed prices faster than justified in the short term. Over the month the Trust’s NAV rose 8.97% compared to an increase in our benchmark index of 7.44%. The seasonal hangover duly arrived at the start of January with UK property shares falling 3% in three days. Selling pressure was sharp but short lived, and share prices have already moved into recovery mode. Despite a £3m increase in our borrowings to £87m over the month, gearing fell slightly from 17.7% to 17% due to the rise in the value of the net assets. We are expecting to receive some £20m in January from a combination of capital repayments (from Unibail and Helical Bar), the completion of property sales (Battersea) and accepted take-over bids (NHP). We are tentatively expecting our share portfolio to produce a total return of around 15% in calendar 2005, and will be looking to retain gearing at around current levels for the time being.
November 2004
July 2004
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