Global property funds underperform
Despite having sufficient opportunities to outperform their benchmarks, global property actively managed funds have generally underperformed over the year to 30 June 2011, according to Standard & Poor's Fund Services (S&P).
S&P analyst Peter Ward said currency hedged global property securities fund performance had been strong "at levels well above what investors should expect over the longer term".
"However, it has moderated from the previous year and active funds' relative performance has been affected by a variety of less predictable challenges, including macro-economic factors, sovereign debt issues and geopolitical events, as well as natural disasters," Ward said.
This is one of the key findings from S&P's global property sector review, which covered 17 managers and 20 listed property securities capabilities.
Sector performance volatility for the year has further moderated compared to the 2010 financial year, the sector review found.
There is less difference between the best and worst performing hedged products over the past year compared to the previous year, which reflected the more "benchmark aware approach that a number of active managers have taken".
Recommended for you
A hiring spree is expected in private markets with 90 per cent of firms expecting to maintain or increase their headcount over the next 12 months, according to Preqin.
Abrdn Investments has hired a new global chief executive as Rene Buehlmann steps down after less than two years, it also announced a new senior leadership structure.
Having received bids from Bell Financial Group and AxiCorp, trading platform Selfwealth has confirmed it has entered into a scheme implementation deed after both parties were invited to make a higher bid.
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
