Pan European property shares extended their gains in July, with the benchmark (FTSE European Public Real Estate Association/National Association of Real Estate Investment Trusts (EPRA/NAREIT) Developed Europe Index total return in sterling) rising 2.1%, bringing the financial year (31 March) to-date performance up to 8.2%. The fund’s total return in July was 2.8%, exceeding the benchmark by 68 basis points (bps).
June 2018
After the strong performance of real estate equities from the February lows, June saw the market pause with the benchmark, FTSE EPRA / NAREIT Europe Index TR (in GBP) rising 1.06%. The Trust’s NAV was slightly behind at 1.01% whilst the share price rallied 3.9% nudging the stock back to a small premium to asset value.
May 2018
Pan European real estate equities had a volatile month with the index initially continuing its April rally then retreated before finishing with a rally off the month low point with the FTSE/EPRA NAREIT Developed Europe Index (in GBP) returning 0.46%. Continental Europe and the UK returned near identical numbers. The Trust’s NAV was 0.49% in line with the benchmark. The share price however rose 2%.
Report for 2018
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