Henderson Global Property Companies Limited aims to provide investors with a total return (both income and capital growth) principally through investing in listed property securities and property-related securities globally.
Key Facts
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Diversify your portfolio
Launched in 2006 to provide exposure to global property securities while offering an attractive yield.
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Experience Counts
Managed by Patrick Sumner, a leading specialist in global property and chairman of the Real Estate Investment Trusts Association.
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Global exposure
Investing in global property diversifies a portfolio so you are not relying on one particular geographical area to deliver performance.
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Regular incomeThe company is structured to deliver an attractive level of income paid quarterly.
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Reasons to Invest
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DurabilityAims for solid and consistent income returns, even in difficult market conditions.
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Right place, right timeThe company is well placed to benefit from the change in sentiment towards investing in property companies.
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Spread of riskThe company’s diverse portfolio means it can be lower risk compared to funds that invest solely in direct property.
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Attractive buying opportunity
Both the company and its underlying assets are trading at a discount.
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Motivated to achieve A performance fee closely aligns the interest of the manager with those of the shareholders.
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Price
| Price | NAV
17/03
2010 | Div Yield
(Net) | Discount |
|---|
| 56.8 | 63.3 | 7.8 | -10.07 |
As at
18/03/2010
Source: Financial Express
Fund Manager's Commentary - December 2009
Equity markets ended the year on a positive note, with a rally in December leaving global stock markets at their highest for 2009, and in some cases above their ‘pre-Lehman’ levels. With little new news and investors looking ahead to 2010, markets were buoyed by the continued strength of corporate debt markets and ongoing signs of a global economic recovery, with Chinese GDP forecasts being revised upwards. On a more sombre note, sovereign debt markets remain fragile, as governments in many Western countries are increasing borrowings to fund stimulus measures. In a quiet month of news flow in the direct real estate market, North American Real Estate Investment Trusts were the outstanding performers as investors began to factor capital growth into forecasts for 2010. Simon Property Group announced the US$2.3bn purchase of Prime Outlets to further strengthen its dominant outlet mall business. The deal represents the largest corporate acquisition this year, and the 8% implied yield represented a premium to recent transactions.
The company remains focused on its objective of meeting its dividend target and, at the same time, maximising total return. We were active in both Australia and Japan over the month, capturing dividends in CFS Retail, Dexus and Stockland in Australia, and Japanese stocks Industrial & Infrastructure, Japan Excellent Income REIT and Japan Prime Realty. In the US, we took profits in Kite Realty Group following a strong rally, and added to Entertainment Properties Trust. Elsewhere, we added to our UK holdings in Grainger and Shaftesbury, and took part in a placing of 9% preference shares issued by Invista European Real Estate Trust as it sought to recapitalise.