Bestinvest says
This manager lives and breathes UK and European REITs and other listed property securities so that we don't have to. This removes the timing and sector decisions that we or our clients would otherwise have to take. His experience running the Aberdeen property share fund means he is aware of the need to limit the size of his fund so that he is still easily able to trade in and out of stocks. The fund size is capped at £150m.
The manager seeks to maximise total returns from the sector. He follows a fundamental approach to investing in property and will generally hold stocks for the long term. The manager follows 110 pan European stocks and invests in 70 with a maximum held at any one time of around 50 stocks. He runs his own spread sheet modelling for all his holdings and the underlying buildings that they own so that he can model the affect of changes in rents anywhere in his portfolio. Core of the fund consists of quality blue chip companies. At stock selection level the primary focus is on quality assets at attractive valuations and will also seek to strategically rotate regional fund exposure to capture local property cycles. The ability to move between sectors and countries is helped by the small size of the fund.