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Securities Funds Pulse
US tops the charts in 2010
Real estate securities funds ended the year with a strong performance. All
mandates showed positive returns and posted an average rise of 5.0% in
December. European mandates gained the most (+7.2%) following the
decline in November (-6.3%), while Australian mandates (+1.1%)
underperformed the rest.
Over the last three months, Asian mandate still outperformed the rest, with an
average return of +9.5%, followed by US mandates (+7.0%), whilst Australia
(-1.1%) yet again ended in negative territory.
As a result, the average 12-month return is now 17.0% (up slightly from
16.1% in November). Again, Australian funds have lagged, reflecting the
underperformance of Australian listed real estate.
We show below the YTD performance relative to other asset classes, rebased
to US$. In 2010 global real estate (securities and funds) in US$ have been the
star performers.
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