Bestinvest says
Unlike some listed property fund mandates which focus exclusively on maximising total returns from capital or income, this fund focuses on investing predominantly in dividend paying global property securities. The fund adopts an unconstrained relative benchmark approach to investing built around a combination of bottom up stock selection and the macro economic outlook for a country/region. Fund returns are unhedged. The portfolio will tend to have a bias to the US and Australian listed securities which account for a large percent of the fund's reference benchmark.
The fund adopts an unconstrained relative benchmark approach to investing. The investment process begins by screening the universe of companies by yield, liquidity, volatility and country specific fundamental criteria. These results are combined with the macro economic outlook for a country/region. Sell discipline is triggered by a change in a company's fundamentals and a re-evaluation of macro outlook. The fund's reference benchmark is the S&P Citigroup BMI Global REIT index. There are no formal minimum yield criteria which each security must satisfy.