TR Property
Investment portfolio

Our approach
Diversification and liquidity
The trust invests in well-managed real estate investment trusts (REITs), plus shares and securities of property companies and property-related businesses. These are complemented by select direct investments into UK property. That’s our bricks, mortar, and equities approach.
We generally prioritise future growth and capital appreciation over immediate yield or discount to asset value.
Although the rules governing the trust allow for investment on an international basis, the benchmark we measure our performance against is a pan-European benchmark and currently all of our investments are in this region. Direct property investments are located in the UK only.
Sector allocations (% NAV) | |
---|---|
BENELUX DIVERSIFIED | 0.5 |
EUROPEAN HEALTHCARE | 2.7 |
EUROPEAN SHOPPING CENTRES | 10 |
FRENCH OFFICES | 6.3 |
GERMAN OFFICES | 2.7 |
GERMAN RESIDENTIAL | 17.7 |
INDUSTRIALS | 21.4 |
NORDIC RESIDENTIAL | 1.4 |
NORWEGIAN OFFICES | 0.4 |
SELF STORAGE | 3.2 |
SPANISH DIVERSIFIED | 4.9 |
STOCKHOLM OFFICES | 1.4 |
STUDENT HOUSING | 2.5 |
SUPERMARKETS | 0.9 |
SWEDISH DIVERSIFIED | 4.3 |
SWISS DIVERSIFIED | 5.9 |
UK DIVERSIFIEDS | 5.2 |
UK HEALTHCARE | 0.7 |
UK LONDON OFFICES | 3.8 |
UK LONDON RETAIL | 0.3 |
UK MAJORS | 4.1 |
UK RETAIL | 2.3 |
UK/IRELAND RESIDENTIAL | 0.1 |
UK DIRECT PROPERTY | 8.3 |
TOTAL | 111.1 |
Correct at 30.09.2022 |
Focused specialisation
Carving out a portion of your portfolio or property exposure by stock-picking – or even REIT-picking – is time, resource, and expertise intensive. TR Property makes it easy to gain broad, balanced exposure to the UK and European property sector.
Top 10 holdings (% NAV) | ||
---|---|---|
VONOVIA | 9.0 | ![]() |
ARGAN | 5.7 | ![]() |
SEGRO | 5.1 | ![]() |
KLEPIERRE | 4.9 | ![]() |
PICTON PROPERTY INCOME | 4.2 | ![]() |
PHOENIX SPREE | 4.2 | ![]() |
LAND SECURITIES GROUP | 4.1 | ![]() |
PSP SWISS PROPERTY | 3.9 | ![]() |
INDUSTRIALS REIT | 3.7 | ![]() |
GECINA | 3.5 | ![]() |
Correct at 30.09.2022 |
Strategic allocation (% NAV) | |
Continental Shares | 62.5 |
UK Shares | 40.3 |
UK Direct Property | 8.3 |
Total | 111.1 |
Correct at 30.09.2022
Fund facts
Share price | 291.50p |
NAV | 313.72p |
Yield | 5.39% |
Premium/discount | -7.08% |
As at date | 22/09/2023 |
Market capitalisation | £925m |
Source: Bloomberg |
15.50p
Total dividend per share
As at date 31/03/2023
17.22p
Revenue earnings per share
As at date 31/03/2023
TR Property dividends are paid twice a year, usually in January (interim) and August (final). They are subject to market conditions and investors should be aware that past performance is not a guide to future performance.
Ex Dividend Date | Pay Date | Dividend Type | Amount Div p/ps |
---|---|---|---|
29/06/2023 | 01/08/2023 | Final | 9.85 |
15/12/2022 | 12/01/2023 | Interim | 5.65 |
23/06/2022 | 02/08/2022 | Final | 9.20 |
16/12/2021 | 14/01/2022 | Interim | 5.30 |
17/06/2021 | 04/08/2021 | Final | 9 |
10/12/2020 | 08/01/2021 | Interim | 5.20 |
18/06/2020 | 04/08/2020 | Final | 8.80 |
05/12/2019 | 07/01/2020 | Interim | 5.20 |
20/06/2019 | 30/07/2019 | Final | 8.60 |
29/11/2018 | 02/01/2019 | Interim | 4.90 |
21/06/2018 | 31/07/2018 | Final | 7.55 |
30/11/2017 | 02/01/2018 | Interim | 4.65 |
22/06/2017 | 01/08/2017 | Final | 6.4 |
01/12/2016 | 03/01/2017 | Interim | 4.1 |
23/06/2016 | 02/08/2016 | Final | 5.2 |
03/12/2015 | 05/01/2016 | Interim | 3.15 |
25/06/2015 | 04/08/2015 | Final | 4.75 |
04/12/2014 | 06/01/2015 | Interim | 2.95 |
25/06/2014 | 05/08/2014 | Final | 4.6 |
04/12/2013 | 07/01/2014 | Interim | 2.85 |
26/06/2013 | 06/08/2013 | Final | 4.35 |
05/12/2012 | 08/01/2013 | Interim | 2.65 |
04/07/2012 | 01/08/2012 | Final | 4.2 |
07/12/2011 | 10/01/2012 | Interim | 2.4 |
06/07/2011 | 02/08/2011 | Final | 3.7 |
08/12/2010 | 11/01/2011 | Interim | 2.3 |
10/03/2010 | 01/04/2010 | 2nd Interim | 3.45 |
09/12/2009 | 12/01/2010 | Interim | 2.3 |
01/07/2009 | 04/08/2009 | Final | 3.45 |
10/12/2008 | 13/01/2009 | Interim | 2.3 |
02/07/2008 | 05/08/2008 | Final | 3.3 |
05/12/2007 | 09/01/2008 | Interim | 2.3 |
27/06/2007 | 31/07/2007 | Final | 2.4 |
06/12/2006 | 08/01/2007 | Interim | 1.7 |
28/06/2006 | 28/07/2006 | Final | 1.9 |
07/12/2005 | 06/01/2006 | Interim | 1.5 |
29/06/2005 | 29/07/2005 | Final | 1.55 |
08/12/2004 | 07/01/2005 | Interim | 1.3 |
30/06/2004 | 30/07/2004 | Final | 1.4 |
10/12/2003 | 07/01/2004 | Interim | 1.1 |
25/06/2003 | 28/07/2003 | Final | 1.15 |
11/12/2002 | 06/01/2003 | Interim | 0.9 |
26/06/2002 | 29/07/2002 | Final | 1 |
12/12/2001 | 07/01/2002 | Interim | 0.65 |
27/06/2001 | 30/07/2001 | Final | 0.85 |
04/12/2000 | 08/01/2001 | Interim | 0.55 |
03/07/2000 | 27/07/2000 | Final | 0.8 |
06/12/1999 | 08/01/2000 | Interim | 0.52 |
28/06/1999 | 27/07/1999 | Final | 0.77 |
14/12/1998 | 08/04/1999 | Interim | 0.5 |
06/07/1998 | 27/07/1998 | Final | 0.65 |
08/12/1997 | 08/01/1998 | Interim | 0.47 |
27/05/1997 | 09/06/1997 | Final | 0.59 |
09/12/1996 | 08/01/1997 | Interim | 0.44 |
24/06/1996 | 31/07/1996 | Final | 0.56 |
04/12/1995 | 08/01/1996 | Interim | 0.42 |
12/06/1995 | 24/07/1995 | Final | 0.54 |
28/11/1994 | 09/01/1995 | Interim | 0.4 |
20/06/1994 | 29/07/1994 | Final | 0.5 |
29/11/1993 | 10/01/1994 | Interim | 0.4 |
07/06/1993 | 30/07/1993 | Final | 0.5 |
30/11/1992 | 11/01/1993 | Interim | 0.4 |
15/06/1992 | 31/07/1992 | Final | 0.85 |
09/12/1991 | 10/01/1992 | Interim | 0.6 |
17/06/1991 | 30/07/1991 | Final | 0.85 |
10/12/1990 | 11/01/1991 | Interim | 0.6 |
11/06/1990 | 31/07/1990 | Final | 0.85 |
27/11/1989 | 08/01/1990 | Interim | 0.6 |
19/06/1989 | 31/07/1989 | Final | 0.85 |
28/11/1988 | 06/01/1989 | Interim | 0.35 |
1988 | Jul-88 | Final | 0.525 |
1987 | Jan-88 | Interim | 0.275 |
1987 | Jul-87 | Final | 0.875 |
1986 | Jan-87 | Interim | 0.525 |
1986 | Jul-86 | Final | 0.833 |
1985 | Jan-86 | Interim | 0.5 |