Pan European real estate equities returned a healthy 3.2% (in sterling) in what is traditionally the quietest month of the year, and the Trust’s net asset value rose slightly more at 3.3%. A tug of war continues between an abundant supply of liquidity (the ’there is no alternative’ mindset) and investor worries; this drives a… Read More »
The pan-European listed real estate sector (FTSE/EPRA Developed Europe, net, total return, in sterling) returned +5.8% in July, outperforming wider European equities, which returned +4.5% as measured by Stoxx600 (total return, in euros). Declining bond yields – notably German 10-year bunds, which were down -25 basis points (bps) to 45bps, and UK 10-year gilts, which… Read More »
The Trust’s benchmark, FTSE/EPRA Nareit Developed Europe TR in GBP returned precisely 0.0% in the month. On the face of it a dull month but that is far from the reality. The index rose 4.5% to the middle of the month continuing the positive momentum we’ve seen since the end of March. However, from 14th… Read More »
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May was another positive month for real estate equities, but not quite as dramatic as April, with the benchmark (FTSE EPRA Nareit Developed Europe Total Return index in sterling) up +3.3%. The Trust’s net asset value (NA) grew +3.8%. Continental Europe returned +4.4% in euro terms, comfortably ahead of the UK (in sterling) at +1.8%.… Read More »