December brought a positive end to a difficult year for Pan-European real estate. The Trust’s benchmark recorded growth of +3.7% (GBP) over the month, but finished the calendar year with a total return of -5.7%. Given that over the first quarter of 2020 the benchmark had a total return of -22.7%, the last nine months… Read More »
What a month. There was a full-scale reversal of October (when our benchmark fell -4.8%), fuelled by the very impressive vaccine news. Markets were keen to look beyond the ongoing repercussions of lockdown and the current restrictions to the sunny uplands of a post-vaccine normalisation. Pan-European real estate equities in sterling rose +12.6%, slightly behind… Read More »
Click here for the Sept 2020 Interim Report
October was a difficult month for pan-European real estate equities, with the benchmark (FTSE EPRA Nareit Developed Europe Total Return Index, in sterling) falling -4.76%. The net asset value (NAV) dropped a little more, at -5.12%. The bright spot was the share-price performance at +1.0%, which saw the discount to net asset value tighten to… Read More »
Pan European real estate equities fell -0.58% (when measured in GBP) with the Trust’s NAV falling slightly less at -0.22%. The share price fell -4.3% as the discount widened to an attractive level of -15%. When viewed in EUR the sector fell -1.5%, the weakening of GBP added to absolute returns.