The Trust was formed in 1905 and has been a dedicated property investor through the Ordinary share class since 1982.
Investment Objective and Benchmark
The Company’s Objective is to maximise shareholders’ total return by investing in the shares and securities of property companies and property related businesses internationally and also in investment property located in the UK.
The benchmark is the FTSE EPRA Nareit Developed Europe Capped Index Net of Tax (GBP). The index, calculated by FTSE, is free-float based and as at 31 March 2021 had 105 constituent companies. The index limits exposure to any one company to 10% and reweights the other constituents pro-rata. The benchmark website contains a summary factsheet for the index, along with further details about the index composition and performance
Our investment selection process seeks to identify well-managed companies of all sizes, especially those with a focus on a particular type of real estate business. We generally regard future growth and capital appreciation potential more highly than immediate initial yield or discount to asset value.
Key Investor Information Documents
Articles of Association
Statement regarding non-mainstream investment products
The Company currently conducts its affairs so that the shares issued by the Company can be recommended by IFA’s to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.