The Fund is managed by Quay Global Investors, a Bennelong boutique, and invests in a portfolio of real estate securities listed on exchanges around the world. It is relatively concentrated, with a conviction-based approach, and is currency unhedged.
Quay focuses on delivering investors real total returns, and invests through the cycle while also taking advantage of counter-cyclical opportunities.
Jonas Daly, Head of Distribution at Bennelong Funds Management, said Quay was pleased to establish the mandate with the CFS FirstChoice team to offer Australian advisers and investors access to some of the best listed property assets across the globe.
“Following the recent sell-off in broader equity markets, there is now an opportunity for investors to consider buying listed property assets at attractive prices,” said Mr Daly.
“Quay’s differentiators include a strong awareness of credit markets (from the principals’ investment banking background), avoiding property developers, and seeking opportunities to buy quality assets below their ‘replacement cost’.
“With its index unaware approach, the Quay team actively weights the portfolio into the best quality names – rather than having to allocate to large index-weighted names based on their market capitalisation and size.”
The Fund has won multiple industry awards, and is rated Highly Recommended by Lonsec, Recommended by Zenith, and Outstanding by SQM*. It has returned 9.61% p.a. since inception, outperforming its benchmark by 3.49%**.
* The rating issued September 2022 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2022 Lonsec. All rights reserved.
The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned July 2022) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines
The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.
**As at 30 November 2022. Inception date is 30 July 2014. The Quay Global Real Estate Fund (Unhedged) was launched on 30 July 2014 by another trustee, and performance data relates to this strategy. Bennelong assumed responsibility as replacement trustee on 31 January 2016. Benchmark is the FTSE/EPRA NAREIT Developed Hedged Index Net TR AUD. Performance figures are net of fees and expenses. Past fund performance is not indicative of future performance.