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UBS CBRE Global Property Securities Fund

About this Fund

Fund Detail

PDS https://informedinvestor.com.au/view/pds/100115-2024-05-01-02:50.pdf
FUND MANAGER UBS Asset Management (Australia)
ASX Code
APIR HML0016AU
ASSET CLASS PROPERTY
INVESTMENT STYLE

The Fund uses a multi-step investment process for constructing the Fund's investment portfolio that combines top-down region and sector allocation with bottom-up individual stock selection.
INVESTMENT PROFILE The Fund's investment objective is to outperform (after management costs) the FTSE EPRA/NAREIT Developed Rental Net Return Index (AUD Hedged) when measured over rolling three year periods.
CURRENCY MANAGEMENT Hedged
INCEPTION DATE 31-07-2006
BENCHMARK FTSE EPRA/ NAREIT Developed Rental Net Return Index (AUD Hedged)
FUND SIZE FTSE EPRA/ NAREIT Developed Rental Net Return Index (AUD Hedged)
DISTRIBUTION FREQUENCY Half-yearly
NO. OF HOLDINGS 60-90
FEES 0.90% p.a.
STRUCTURE

Benefits

Benefits

Benefits of investing in UBS CBRE Global Property Securities Fund

The significant benefits of investing in the Fund are:

  • Research resources: The Portfolio Manager has a large team dedicated to the management of global real estate stock portfolios. The Portfolio Manager's global research team located in offices in the United States, the United Kingdom, Hong Kong, Japan and Australia provides a comprehensive world view through their in-depth analysis of local listed and direct real estate market trends and conditions.
  • Regional asset allocation: The global portfolio's top-down regional and sector allocation is established following a systematic review of local market economic conditions, capital markets and real estate market trends. The investment team places an emphasis on the regions and property sectors believed to have the strongest fundamentals and risk-adjusted return potential.
  • Security selection: The Portfolio Manager's bottom-up approach integrates both quantitative and qualitative research in an effort to identify individual securities where the real estate is undervalued and represents the most compelling investment opportunities within markets believed to be the most attractive. The securities research process incorporates several factors including:
  • Property visits - the Portfolio Manager utilises their local presence to gauge the quality and location of the real estate, assessing properties and capital expenditure needs at the property level.
  • Management meetings - the Portfolio Manager assesses the management's alignment with shareholders; determines the depth and experience of the team; and judges their ability to articulate and execute their strategy.
  • Modelling - the Portfolio Manager generates cash flow earnings projections; performs net asset value analysis; and analyses the capital structure.

Risk Level

High

Investor Suitability

The Fund is best suited to investors who seek exposure to a well-diversified portfolio of global property securities.
RISK LEVEL High
INVESTOR SUITABILITY

The Fund is intended to be suitable for investors with at least a seven year investment timeframe and with a high risk and return profile. More specifically, the Fund is intended to be suitable for investors who are seeking exposure to a diversified portfolio of global property securities. 

Risks

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Detail

Key Features

The Fund uses a multi-step investment process for constructing the Fund's investment portfolio that combines top-down region and sector allocation with bottom-up individual stock selection. Top-down sector and regional allocation is determined through a systematic evaluation of listed and direct property market trends and conditions.

Bottom-up stock selection is driven by proprietary analytical techniques to conduct fundamental company analysis, which provides a framework for security selection through an analysis of individual securities independently and relative to each other.

Mandate

How we invest your money

The Fund may invest between 90 to 100% in listed global property equity securities. It may also invest up to 10% in cash. Effective exposure may include derivatives.

Eligible investments of the Fund comprise listed real estate securities, or those equity securities in the process of being listed, on any recognised stock exchange in the developed or emerging markets. The Fund may also invest in cash, financial derivatives and currency instruments.

The Fund will normally hold between 60 - 90 securities and is managed against a fully-hedged benchmark. We separately implement currency hedging to the Australian dollar after the construction of the portfolio by the Portfolio Manager.

 

Asset Allocation 

 

Listed Global Property Securities: 90 - 100%
Cash: 10%