Listed property performance unlikely to continue
High-level investment team turnover in the listed property funds management sector is likely to affect return performance over the next 12 months, according to Zenith Investment Partners.
In its 2013 listed property review, Zenith said it expected the high level of turnover to continue, with a number of managers seeking experienced personnel to fill key vacancies.
Zenith investment analyst Jonathan Baird said the ‘domino effect' was impacting many of the managers rated by the research house.
Despite these issues, the listed property sector, both domestically and abroad, performed strongly during the 12 months to May 2013, with the S&P/ASX 300 Index growing by 30.62 per cent.
According to Baird, the strong returns have increased the number of securities trading above fair value and such performance is unlikely to repeated in the coming year.
Of the 78 investment products rated by Zenith, six were rated ‘highly recommended', 18 ‘recommended' and 13 ‘approved'.
"This year, managers also highlighted the return of real estate investment trusts to more traditional business models as being a key driver of the increased investor confidence in the sector," Baird said.
Recommended for you
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.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.
