Pan European property equities (FTSE EPRA Nareit Developed Europe total returns, in sterling terms) returned -3.1% and underperformed broader equities, which were almost flat during May but demonstrated significant intra-month volatility. The Trust’s net asset value (NAV) fell slightly less at -2.9% but the share price was hit harder and fell -7.7% over the month. This pushed the discount to NAV out to -9%.Continue reading
Whether you believe inflation is demand or supply driven, it is here and the central banks’ actions are adding to market volatility.
In this video, Marcus Phayre-Mudge, Fund Manager of TR Property Investment Trust plc, will examine not only the income characteristics of property but also how The Trust is exposed to those parts of the real estate environment that are still enjoying the effects of structural tailwinds, index-linked income and a shrinking supply of new development as building cost inflation bites.
Pan European property equities had a torrid month with our benchmark, FTSE EPRA Nareit Developed Europe (total returns, in sterling terms) falling -6.1%. Continental Europe fared even worse, returning -7.7% (in euro terms). The Trust’s net asset value total return was slightly better, falling -5.3% and the share price fell 3%.Continue reading
For equities, this was a volatile month of two halves. Given escalation of the war in Ukraine, the property benchmark declined -8.2% in sterling terms through 7th March. The benchmark then rebounded by +11.4% over the following three weeks. The Trust’s net asset value (NAV) gained +2.9% and outperformed the benchmark by +0.66%.Continue reading