On the face of it, an encouragingly positive month for pan European real estate equities with the Trust’s benchmark returning +2.73%. Continental property shares steadily rose over the month (+3.5%) with a large number of outstanding individual performances (13 companies returned more than 10% in the month with just 2 from the UK). However, the… Read More »
Pan European real estate equities returned a respectable +2.1% when viewed in GBP but a more paltry +0.5% when measured in EUR. This was clearly a consequence of the weakness of GBP following the new Prime Minister’s sabre rattling (and Leave dominated new Cabinet) and the increased risk of a ‘no deal’ Brexit. TR Property’s… Read More »
When people think about real estate, they may picture physical properties. Marcus Phayre-Mudge, Fund Manager in the BMO Global Asset Management Property Equities Team presented to a live audience on 11th June 2019 at the Brewin Dolphin Edinburgh offices to explain why that’s not always the case. He also outlines key investment themes and looks… Read More »
Pan-European real estate equities suffered a poor month, with the FTSE EPRA Nareit Developed Europe Capped Index in sterling falling -1.73%. The net asset value (NAV) total return of the Trust fell slightly less at -1.48%, delivering a modest outperformance of +25 basis points. Against the recent trend, it was continental Europe (-3.5% in euros)… Read More »
May was a strong month for pan-European real estate equities when viewed in sterling, with returns of 2.44%. The picture in euros was very different, however, with a negative performance of -0.38%. Essentially, both sterling and UK property companies were poor performers over the month. Sterling fell -2.7% against the euro and UK property companies… Read More »