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.
Pan European real estate equities rose +1.49% (when measured in GBP) with the Trust’s NAV +2.15%. The share price rose an encouraging +5.4% as the discount tightened towards 10%. The month was characterised by a continuation of the theme of the top performing sectors (industrial/logistics, residential, long income) keeping on winning and weakened sectors (retail,… Read More »
The Trust’s net asset value (NAV) with income rose +1.39% versus a return of +0.07% for the benchmark, while the share price returned +2.55%. The discount still stands at an attractive -13%. European property companies, measured by the FTSE EPRA Developed Europe Index, generated total returns of +1.2% in euros, outperforming general equities (measured by… Read More »
As announced on 22nd June 2020, TRY held the AGM on 28th July 2020 as a closed meeting in order to protect the health and safety of the Company’s shareholders and officers. The results of the voting at the Trust’s 2020 Annual General Meeting have been published separately here. In lieu of the usual AGM… Read More »