Folkestone Maxim is pleased to announce that the Folkestone Maxim A-REIT Securities Fund has been added to the Asgard platform.
The Folkestone Maxim A-REIT Securities Fund is a high conviction fund providing access to a diversified portfolio of quality ASX listed real estate securities which own office, retail and industrial, residential and real estate related social infrastructure assets. The Fund’s investment style follows an active management style coupled with a disciplined approach focusing on a top down/bottom-up process. Securities are selected on a concentrated portfolio basis built on individual merit and not benchmark weights.
Mr Winston Sammut, Portfolio Manager of the Folkestone Maxim A-REIT Securities Fund said “the addition reflects growing interest in, and support for, an A-REIT securities fund that looks outside the mainstream S&P/ASX 300 A-REIT Index for investment opportunities. The Index is highly concentrated with the top two A-REITs, Westfield and Scentre, comprising 36% of the Index and the top 8 comprising 85% of the Index. Our high conviction approach to investing in the sector has rewarded investors with the Fund generating a total return in the year to 31 August 2016 of 29.71% (after fees, before tax), outperforming the Index return of 25.95% by 3.76%.
“A-REITs have performed strongly in recent years driven by falling bond yields and investor’s strong appetite for yield. As a value-oriented investor, we believe that given the market’s concerns about the future direction of bond yields, it will certainly be a stock picker’s market. As a result, our portfolio will favour listed real estate securities with good management, high quality assets, sustainable earnings and distribution growth and appropriate capital structures.”
Mr Adrian Harrington, Head of Funds Management, said “over the last two years, we have been growing our presence in the retail market with the Fund now available on BT Wrap, Hub 24, Macquarie Wrap, Netwealth and Powerwrap. In addition we have an SMA with Mason Stevens and are running MDAs for a financial advisory group and a number of family offices.
