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The fund invests primarily in a diversified portfolio of commercial property and seeks to add value through strategic asset selection, stock selection and asset management. This investment process is a combination of top down and bottom up research. The research team produce market forecasts on a quarterly basis and this information gives the fund manager guidance on sectors and regions. Around 1,500 to 2,500 new properties are screened annually by Prudential (the underlying managers) and prospective properties are analysed through a number of bespoke valuation models. The strategy is continually reviewed with importance particularly placed on: tenant exposure, lease expiry profiles, vacancies (current and potential) and liquidity.
The fund has an offshore unit trust structure, domiciled in Guernsey, enabling it to be 100% invested in commercial property.