 |
Ordinary Shares |
 |
Price (p) | 149.40 |
Published NAV | 171.60 |
Yield | 3.89 |
Discount | -13.84 |
|
Prices correct as of close
2010-09-09.
Last Published NAV is as at the previous business day.
Source: Trustnet |
Sigma Shares |
|
Price (p) | 66.90 |
Published NAV | 88.60 |
Yield | 2.99 |
Discount | -25.20 |
|
Prices correct as of close
2010-09-09.
Last Published NAV is as at the previous business day.
Source: Trustnet |
|
For Sigma Shares
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
The theme of regional outperformance by Europe persisted into February. Asian and US real estate equity markets fell -5.5% and -5.7% respectively, whilst Europe was up +3.52% (in GBP). On the Continent, the Netherlands and Sweden were top performers. In Holland, the potential break up of Vastned Retail rumbles on with the company announcing on 8th February that it had received a number of offers for all parts of the portfolio. From a UK perspective, where the investment market has yet to really find ‘clearing’ price levels – this is a positive. Dutch stocks rose 6.8% also buoyed by good results from the retail orientated large cap stocks such as Corio. UK stocks declined slightly as good final results from Liberty and Hammerson were also accompanied by warnings that their NAVs would be falling further in the first half of 2008.
There is now good two way sentiment in the Sector. Optimists are pointing to the opportunities provided by the sell-off in both direct and indirect markets and the continued stability of tenant demand. Pessimists believe that the full impact of the credit crisis there will eventually lead to greater problems in both finance and rental markets and that we are merely in the lull before the storm. Overall, the Benchmark rose 3.52% in Sterling terms, the NAV rose 3.72% and the Sigma share price increased by 9.2%. The rotation from large cap stocks into smaller cap continued apace. Turnover (purchases and sales) totalled £11.6m as we sold into price appreciation particularly in Continental large caps. Cash is 3.7% as we continue to seek opportunities in the small cap arena.
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
|
