Summer Listed Property fund performance summary as at 30 September 2019.
Unit price (as at 30 September 2019): $1.4156
Date the fund started: 19 September 2016
For information on fees, see our Fees page.
See the Listed Property page for the Summary of investment objective and strategy.
|Annualised total since inception||1 Month||3 Months||1 Year||3 Years|
Fund returns are calculated net of fund charges, trading expenses and accrued tax for a New Zealand resident individual paying tax at the highest Prescribed Investor Rate (28%).
|Asset name||% of fund net assets|
|1||Kiwi Property Group Limited||19.42%|
|2||Goodman Property Trust||15.44%|
|3||Precinct Properties New Zealand Limited||15.17%|
|4||Property For Industry Limited||9.12%|
|5||Argosy Property Limited||9.01%|
|6||Vital Healthcare Property Trust||7.08%|
|7||Stride Property Group||6.85%|
|8||ANZ transactional bank account||6.15%|
|9||Investore Property Limited||3.54%|
The top 10 investments make up 93.45% of the fund.
September was another positive quarter for Listed Property investors, in general.
The portfolio represents what we consider to be the optimal opportunity set in the New Zealand property sector.
Indeed, earlier this year we removed the fund’s exposure to key stocks within the Australian property sector and as at the end of September continue with only one Australian exposure – Leadlease Group – representing less than 2% of the value of the fund.
To diversify the fund’s exposure to the small number of New Zealand listed property vehicles we hold investments in the aged- care sector. As at September these were Arvida Group, Metlifecare and Ryman Healthcare and totaled around 5% of the value of the fund.
It is important that we acknowledge the departure of Malcolm Davie at the beginning of October, the portfolio manager of the Forsyth Barr Listed Property Fund since April 2014. He leaves with our gratitude and best wishes, with the intention of completing the final stages of his studies for his PhD.
Accordingly, we are pleased to announce the appointment of Jason Lindsay, AFA, who joins us from ACC, where he managed the Australasian infrastructure portfolio. Jason has over 15 years experience spanning New Zealand’s equity research and fund management industries. He holds a BCA from Victoria University of Wellington and is a member of Chartered Accountants Australia and New Zealand (CAANZ).
From October, Jason will be the portfolio manager of the Summer Listed Property and joined Craig Alexander as Co-Head of Funds Management on 10 September.
We actively manage the fund’s foreign currency exposures. As at 30 September 2019, these exposures represented 1.98% of the value of the fund and were unhedged.
This is not a recommendation to buy or sell any financial product and does not take your personal circumstances into account. All opinions reflect our judgement on the date of communication and may change without notice. Past performance is not a reliable guide to future performance. We recommend you take financial advice before making investment decisions. We have prepared this web page in good faith based on information obtained from other sources, but we do not guarantee the accuracy of that information. We do not make any representation or warranty (express or implied) that this web page is accurate, complete, or current and to the maximum extent permitted by law disclaim any liability for loss which may be incurred by any person relying on this web page.