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The Fund aims to provide capital growth over the long term by investing primarily in a concentrated portfolio of equities of real estate investment trusts ("REITs") and companies of any size, in any country which will derive the main part of their re...
Targets global real estate securities with a focus on capturing both capital appreciation and income through an alpha-oriented philosophy. Maintains a high active share of over 70% to exploit relative value opportunities across the global property sector. Aims to identify and invest in real estate securities that are positioned to benefit from structural technological and demographic shifts.
Managed by Co-Portfolio Managers Guy Barnard, Tim Gibson, and Greg Kuhl, who lead the European, Asian, and US teams respectively. The lead managers possess an average of 20 years of industry experience, supported by regional teams that provide localized fundamental insights. Employs a collaborative global structure to facilitate the construction of a high-conviction portfolio.
Seeks to deliver material value-add over the long term by capitalizing on short-term equity market volatility. Targets consistent outperformance relative to the benchmark and peer group through active security selection in the real estate asset class. Focuses on total expected return, combining dividend income and capital growth over a full market cycle.
Utilizes a structured, risk-aware investment process driven by bottom-up fundamental research and proprietary valuation models. Constructs a concentrated global portfolio typically consisting of 50 to 60 holdings. Maintains a structural allocation typically comprising 75% in REITs and 25% in non-REIT entities, such as property developers. Strictly limits top-down macroeconomic bets within predefined risk budgets to ensure alpha is driven by stock selection.
Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access
It serves as a diversifier for investors with high domestic real estate concentration by broadening exposure to global property markets. It acts as a specialized satellite allocation to capture income and growth from the global real estate sector while reducing sector-specific risk. It is suitable for investors seeking a complement to core equity and bond holdings through an asset class with traditionally low correlations to broad market indices.
Daily data. Returns as of 16 Sep 2026.
| Year | Total | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2026 | - | 3.2% | 8.1% | -8.9% | 7.7% | -0.7% | 1.8% | 2.3% | -3.0% | - | - | - | - |
| 2025 | 7.5% | 2.2% | -0.0% | -2.5% | -0.3% | 4.8% | 0.7% | 0.5% | 2.4% | -0.7% | -0.4% | 2.0% | -1.0% |
| 2024 | -1.1% | -3.6% | -0.4% | 2.8% | -5.7% | 2.3% | 0.0% | 7.4% | 4.8% | 2.1% | -4.3% | 1.9% | -7.5% |
| 2023 | 7.4% | 8.8% | -2.7% | -4.4% | 2.5% | -4.8% | 2.9% | 2.2% | -1.3% | -6.6% | -6.3% | 10.0% | 8.8% |
| 2022 | -27.0% | -7.2% | -1.2% | 5.2% | -2.9% | -8.2% | -8.5% | 8.2% | -5.3% | -13.8% | 1.9% | 3.9% | -0.8% |
| Load more | 5 of 6 | ||||||||||||
| Welltower Inc | 8.88% |
| Prologis Inc | 7.27% |
| Equinix Inc | 5.90% |
| Simon Property Group Inc | 4.68% |
| Digital Realty Trust Inc | 4.56% |
| Ventas Inc | 3.89% |
| Public Storage | 3.68% |
| Goodman Group | 3.23% |
| Mitsubishi Estate Co Ltd | 2.39% |
| Mid-America Apartment Communities Inc | 2.21% |
| Janus Living Inc Ordinary Shares - Class A-1 | 2.17% |
| Curbline Properties Corp | 2.16% |
| Terreno Realty Corp | 2.11% |
| Omega Healthcare Investors Inc | 2.03% |
| Lamar Advertising Co Class A | 2.03% |
Warning statements
Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.
The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.
Generic risk warnings relating to collective investment schemes
Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.
The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.
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