Mixed ratings for LPT managers

property macquarie BT

13 August 2003
| By Craig Phillips |

InvestorWebResearchhas upgraded three investment managers in its latest Australian listed property sector review and reduced the number of managers on its recommended list from seven to five.

JB Were,AMPandHSBCwere all upgraded from ‘buy’ to ‘strong buy’, whileMacquarieandBT/Principal were downgraded and removed from the recommended list.

Macquarie was downgraded from ‘strong buy’ to ‘buy’ due to below index performance over the short-term and BT/Principal was placed under review following the resignation of its listed property trust (LPT) team earlier in the year.

However, yesterday BT appointed a new property analyst, Julia Forrest, to its LPT team, which is headed by Antoinette Plater.

The five managers remaining on the research group’s recommended list are APN,Credit Suisse Asset Management, ING Investment Management,Merrill Lynch Investment ManagersandUBS Global Asset Management.

InvestorWeb general manager of managed investments Martin Kerr says LPTs remain the top performing asset class and anticipates the yield from the sector to continue.

“Generally, active listed property managers continue to add value over the index, with the median manager adding 0.8 per cent per annum,” Kerr says.

InvestorWeb launched the sector review, which covers 19 funds, with more than 80 per cent invested in LPTs over a three year performance period, in January 2003.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

2 days 18 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 week ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 6 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

5 days 23 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

5 days 2 hours ago