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Printed: 05 December 2022 12:42 PM

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18 Jan 2022 - Performance Report: Quay Global Real Estate Fund
By: FundMonitors.com

Report Date18 January 2022
ManagerQuay Global Investors, a Bennelong boutique
Fund NameQuay Global Real Estate Fund
StrategyReal Estate
Latest Return DateDecember 2021
Latest Return3.72%
Latest 6 Months14.65%
Latest 12 Months36.70%
Latest 24 Months (pa)11.08%
Annualised Since Inception10.75%
Inception Date31 July 2014
FUM (millions)AU$560.41
Fund OverviewQuay is a boutique investment management business established in 2013 with a focus on preserving and creating wealth for investors through investments in real estate securities. Quay uses a dual manager approach to the investment and portfolio management decision making process. This involves both Principals collaborating to determine significant portfolio investments and positions.

The Fund will invest in a number of global listed real estate companies, groups or funds. The investment strategy is to make investments in real estate securities at a price that will deliver a real, after inflation, total return of 5% per annum (before costs and fees), inclusive of distributions over a longer-term period.

The Investment Strategy is indifferent to the constraints of any index benchmarks and is relatively concentrated in its number of investments. The Fund is expected to own between 20 and 40 securities, and from time to time up to 20% of the portfolio maybe invested in cash. The Fund is $A un-hedged.
Manager CommentsThe Quay Global Real Estate Fund rose +3.72% in December. Over the past 12 months, the fund has returned +36.70% vs the ASX200 A-REIT Index's +26.15%.

The Quay Global Real Estate Fund has a track record of 5 years and 11 months and has consistently outperformed the S&P/ASX 200 A-REIT Index since inception in January 2016, providing investors with a return of 10.75%, compared with the index's return of 9.96% over the same time period.

On a calendar basis the fund has had 1 negative annual return in the 5 years and 11 months since its inception. Its largest drawdown was -19.68% lasting 16 months, occurring between February 2020 and June 2021 when the index fell by a maximum of -38.29%.

The Manager has delivered these returns with -8.38% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 three times and currently sits at 0.84 since inception. The fund has provided positive monthly returns 78% of the time in rising markets, and 26% of the time when the market was negative, contributing to an up capture ratio since inception of 45% and a down capture ratio of 56%.
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