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Securities Funds Pulse
Cooling down for summer
Real estate securities funds had a poor month, with all mandates showing
negative returns and an average 1.9% decline in June. The US mandated
funds dropped the most at -3.0%, while Australian (-1.0%) and Global REIT
(-1.0%) funds held up best.
Over the last three months, Australia (-0.8%) yet again contributed a negative
return and the rest all ended in positive territory, with Global mandated funds
leading the way.
As a result, the average 12-month return is now 26.5% (down from 27.7% last
month). Again, Australian funds have lagged, reflecting the underperformance
of Australian listed real estate.
We are aware of 4 new Funds launched since the end of May, bringing the
total number to 31 so far this year, with 13 funds having a Japanese domicile
Real estate securities funds continue to outperform equities and bonds over 6
and 12 months (
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