Global Real Estate Fund
Portfolio Analytics
Fund Summary - Total Investments inc. Cash
All information correct to 30 June 2019.
Market Value of Properties Held Directly
| Investment | Purchase Date | Sector | Houseview Segment | Investment / Development | Value Band |
|---|---|---|---|---|---|
| 432 St Kilda Rd,St Kilda,Melbourne, Australia | Jan-15 | Office | Melbourne Offices | Standing Investment | £25m to £50m |
| 3&5 Custom House Plaza, Dublin, Ireland | Jan-15 | Office | Dublin Offices | Standing Investment | £25m to £50m |
| WTC Almeda Park Building 4, Barcelona, Spain | Apr-15 | Office | Barcelona CBD Offices | Standing Investment | £25m to £50m |
| DC Goossens, Veghel, Netherlands | Oct-17 | Industrial | Netherlands Logistics | Standing Investment | £25m to £50m |
| 44 Esplanade, St Helier, Jersey | Jan-15 | Office | Grade A Rest of UK Offices | Standing Investment | £25m to £50m |
| Galeria Gniezno, Gniezno, Poland | Jun-13 | Retail | Warsaw High Street Retail | Standing Investment | £25m to £50m |
| Fleming Court, Dublin, Ireland | Oct-15 | Office | Dublin Offices | Standing Investment | £10m to £25m |
| Retail Park Hana, Olomouc, Czech Republic | Jun-13 | Retail | Prague Retail | Standing Investment | £10m to £25m |
| ExtraVerde, The Hague, Netherlands | Sep-14 | Office | Amsterdam Offices | Standing Investment | £10m to £25m |
| Nishi-Shinbashi, Tokyo, Japan | Jun-14 | Office | Tokyo Offices | Standing Investment | £10m to £25m |
| 3-5 John Morphett Place, Erskine Park, Sydney, Australia | Nov-18 | Industrial | Sydney Logistics | Standing Investment | £10m to £25m |
| Retail Park Futurum, Ostrava, Czech Republic | Jun-13 | Retail | Prague Retail | Standing Investment | £10m to £25m |
| 1651-1657 Centre Road, Springvale, Melbourne, Australia | Aug-18 | Industrial | Adelaide Logistics | Standing Investment | £5.0m to £10m |
| Site 1 and 2 Myslowice | Other | Warsaw Logistics | Development | £0m to £2.5m |
Market Value of Listed Securities
| Investment Type | Investment | Country | Sector | Market Value | % of Listed Investments | % of NAV |
|---|---|---|---|---|---|---|
| Listed | Duke Reality Corp Com USD0.01 | United States | Various | £6,843,884 | 7.32% | 1.50% |
| Listed | Equity Lifestyle Properties | United States | Various | £5,219,429 | 5.58% | 1.14% |
| Listed | Prologis Inc Reit | United States | Various | £5,028,322 | 5.38% | 1.10% |
| Listed | Amer Tower Corp | United States | Various | £4,640,828 | 4.96% | 1.02% |
| Listed | Simon Prop Group Com USD0.0001 | United States | Various | £4,259,351 | 4.55% | 0.93% |
| Listed | Inmobiliaria Colonial SA | Spain | Various | £3,701,663 | 3.96% | 0.81% |
| Listed | Goodman Group NPV (Stapled Units) | Australia | Various | £3,321,077 | 3.55% | 0.73% |
| Listed | Link Reit | Hong Kong | Various | £3,094,174 | 3.31% | 0.68% |
| Listed | Alexandria Real Estate Equit | United States | Various | £2,813,916 | 3.01% | 0.62% |
| Listed | Welltower Inc | United States | Various | £2,714,739 | 2.90% | 0.59% |
| Listed | Alstria Office Reit-AG | Germany | Various | £2,606,290 | 2.79% | 0.57% |
| Listed | Hudson Pacific Properties In | United States | Various | £2,424,472 | 2.59% | 0.53% |
| Listed | Fed Realty Inv Tr Sbi USD0.01 | United States | Various | £2,238,093 | 2.39% | 0.49% |
| Listed | Avalonbay Communi Com USD0.01 | United States | Various | £2,236,014 | 2.39% | 0.49% |
| Listed | CA Immobilien Anla NPV | Austria | Various | £2,165,776 | 2.32% | 0.47% |
| Listed | Regency Centers Corp | United States | Various | £2,146,386 | 2.29% | 0.47% |
| Listed | Klepierre EUR1.40 | France | Various | £1,981,731 | 2.12% | 0.43% |
| Listed | Essex Prop Trust Com USD0.0001 | United States | Various | £1,971,016 | 2.11% | 0.43% |
| Listed | Boston Pptys LTD Com USD0.01 | United States | Various | £1,908,544 | 2.04% | 0.42% |
| Listed | Equinix Inc | United States | Various | £1,813,293 | 1.94% | 0.40% |
| Listed | Highwoods Properties Inc | United States | Various | £1,778,363 | 1.90% | 0.39% |
| Listed | Cyrela Brazil Real Com NPV | Brazil | Various | £1,667,276 | 1.78% | 0.37% |
| Listed | Digital Realty Trust Inc | United States | Various | £1,624,466 | 1.74% | 0.36% |
| Listed | Hyatt Hotels Corp Com USD0.01 Class 'A' | United States | Various | £1,615,112 | 1.73% | 0.35% |
| Listed | Gecina SA | France | Various | £1,543,018 | 1.65% | 0.34% |
| Listed | Hilton Worldwide Holdings IN | United States | Various | £1,432,854 | 1.53% | 0.31% |
| Listed | Douglas Emmet Inc Com STK USD0.01 | United States | Various | £1,381,043 | 1.48% | 0.30% |
| Listed | Merlin Properties Socimi Sa | Spain | Various | £1,368,299 | 1.46% | 0.30% |
| Listed | BR Malls Participacoes Sa | Brazil | Various | £1,363,897 | 1.46% | 0.30% |
| Listed | Sun Communities Inc Reit | United States | Various | £1,361,772 | 1.46% | 0.30% |
| Listed | Invesco Office J-REIT Inc | Japan | Various | £1,355,937 | 1.45% | 0.30% |
| Listed | Equity Residential | United States | Various | £1,350,284 | 1.44% | 0.30% |
| Listed | Ventas Inc | United States | Various | £1,345,998 | 1.44% | 0.29% |
| Listed | Tokyo Fudosan Holdings Corp | Japan | Various | £1,252,991 | 1.34% | 0.27% |
| Listed | CDN Apartment Prop Trust Units | Canada | Various | £1,243,340 | 1.33% | 0.27% |
| Listed | Sun Hung Kai Prop HKD0.50 | Hong Kong | Various | £1,238,918 | 1.32% | 0.27% |
| Listed | Dream Global Real Estate Inv | Canada | Various | £1,214,818 | 1.30% | 0.27% |
| Listed | Diamondrock Hospitality Co | United States | Various | £1,206,912 | 1.29% | 0.26% |
| Listed | Comforia Residential Reit Inc | Japan | Various | £1,169,847 | 1.25% | 0.26% |
| Listed | Vornado Realty Tr Com USD0.04 | United States | Various | £1,100,830 | 1.18% | 0.24% |
| Listed | Vonovia SE | Germany | Various | £1,024,761 | 1.10% | 0.22% |
| Listed | Crown Castle Intl Corp | United States | Various | £937,787 | 1.00% | 0.21% |
| Listed | Orix Jreit Inc Reit | Japan | Various | £825,986 | 0.88% | 0.18% |
Key Facts
| Key Facts | |
|---|---|
| Number of Direct Properties | 14 |
| Number of Indirect (CIS) Investments *** | 3 |
| Number of Listed Investments | 43 |
| Average Lot Size (direct) | £21,862,857 |
| Average Unexpired Lease Term (to first break) - Yrs * | 4 |
| Void Rate (including development) | 2.75% |
| NAV ** | £456,465,528 |
| Direct Portfolio Net Initial Yield | 5.67% |
| Direct Portfolio Net Reversionary Yield | 5.92% |
| Fund Gross Yield | 4.90% |
| Look through Gearing | 0.00% |
Fund Summary
| Fund Summary | £ | % of NAV |
|---|---|---|
| Market Value of Real Estate held directly | £306,080,000 | 67.05% |
| Market Value of Real Estate held indirectly (CIS) † | £15,542,462 | 3.41% |
| Market Value of Listed Real Estate | £93,533,508 | 20.49% |
| Cash plus other* | £41,309,558 | 9.05% |
| Net Asset Value | £456,465,528 | 100.00% |
Key Currency
| Key currency rates**** | |
|---|---|
| GBP:EUR | 1.09 |
| GBP:AUD | 1.76 |
| GBP:JPY | 132.06 |
| GBP:CZK | 28.06 |
| GBP:USD | 1.22 |
| GBP:BRL | 4.61 |
| GBP:CAD | 1.60 |
| * | Weighted on passing rent. |
| ** | Official NAV at month end adjusted for change in Direct Market values at month end (net of any fx movements). |
| *** | Prior to 30/04/2016 the two investments in the Nordic Retail Fund were counted as separate investments. They are now counted as one. |
| **** | All currency conversions were calculated using official rates as at 31 July 2019. |
Indirect
| Indirect (CIS) | £ | % of Indirect (CIS) |
|---|---|---|
| Pradera Central & Eastern European Fund | £8,754,483 | 56.33% |
| Saffron India Real Estate Fund | £5,805,618 | 37.35% |
| Nordic Retail Fund | £982,361 | 6.32% |
| Market Value of Indirect (CIS) | £15,542,462 | 100.00% |
| † | The fund is limited to 15% of NAV in CIS exposure per fund guidelines, not permitted any new unregulated CIS exposure. |
| * | Cash plus other may include bank and building society deposits, other money market instruments such as Money Market Funds, other current assets and liabilities and allowances for tax, dividends and interest due if appropriate. |
Risk Warning
Risk warning - Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not a guide to future results.