Reits

Welcome back! 2013 is upon us and no doubt there will be many serious conversations with clients about ‘what to expect' from the New Year.

SMALL CAPS

SPECIAL REPORT

Aviva Investors has proposed the closure of its Global Listed Real Estate Securities business, including the Global REIT fund run by Paul Van De Vaart, as it has "insufficient scale".

Jacob de Tusch-Lec, manager of the Artemis Global Income fund, is upping his exposure to Real Estate Investment Trusts as he seeks to inflation-proof part of his portfolio.

Primary Health Properties (PHP) has become the first UK Real Estate Investment Trust (REIT) to launch a retail bond.

The £132m First State Global Property Securities fund has dominated the IMA Property sector over the last five years, being one of only two funds to make a positive return over that period, and has returned 84.5% since 2009.

Patrick Sumner, head of property equities at Henderson Global Investors, has warned investors the market is pricing in a substantial fall in property values across Europe.

PASSIVES

ON SPECIALIST MARKETS