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

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 2 weeks ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 2 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 2 weeks 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....

6 days 6 hours ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

3 weeks 5 days ago

The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day....

5 days 5 hours ago