Appointment to former Perennial Trusts
Resolution Capital appointed investment manager of the former Perennial Real Estate Funds
Resolution Capital Limited (Resolution Capital), a specialist global real estate securities manager, has been appointed as the new investment manager to three former Perennial Real Estate funds effective 1 November 2014. The funds include both Australian and global real estate securities strategies.
Andrew Parsons, Managing Director of Resolution Capital, said “The appointment improves our client diversification and broadens our access to dealer group platforms. Most significantly, the transfer is recognition of our investment management credentials and reaffirms our commitment to Australian and global real estate securities investment management. With our appointment, we are pleased that it now also provides us with the opportunity to offer an unhedged global property securities fund to complement our existing AUD hedged fund.”
Resolution Capital’s award-winning investment team has a successful long-term track record in managing portfolios of listed property securities dating back to 1995. The 10-strong investment team has significant experience managing through various property cycles.
The firm won the Listed Property category in the 2013 Morningstar Awards and the Global REIT category in the 2014 Zenith/Professional Planner Awards.
The Resolution Capital Global Property Securities Fund, which is available to retail investors and financial advisers, has delivered absolute returns of 12.2% p.a. and outperformed its benchmark* by 5.3% p.a.^ since its inception more than five years ago.
“From the outset we listened to what investors wanted from listed real estate and sought to apply world’s best investment practices to our sector. We developed a simple but effective strategy: invest in a select number of the world’s best listed real estate platforms, not in the index. In an increasingly global economy, we focus on identifying best-of-breed operators in each property sector, not subject to geographic boundaries,” Andrew Parsons said.
The funds for which Resolution Capital has assumed investment management responsibility are:
- Resolution Capital Global Property Securities Fund (Hedged) – Series II (previously known as Perennial Hedged Global Property Wholesale Trust) 2
- Resolution Capital Global Property Securities Fund (Unhedged) – Series II (previously known as Perennial Unhedged Global Property Trust).
- Resolution Capital Core Plus Property Securities Fund – Series II (previously known as Perennial Australian Property Wholesale Trust).
About Resolution Capital
Resolution Capital is a boutique investment manager that specialises in managing global portfolios of listed Real Estate Investment Trusts (‘REITs’) and other real estate securities. Resolution Capital was established in 2004 and is headquartered in Sydney, with offices in London and New York. Resolution Capital is independent and majority employee owned.
Resolution Capital is an active, long term manager that focuses on high quality publicly traded real estate securities with the aim of delivering superior, risk adjusted, investment returns. As at 30 September 2014, Resolution Capital had approximately $3.1 billion under management across G-REIT, A-REIT and Asian REIT strategies.
For more information visit: www.rescap.com
Resolution Capital Limited
Phone: +61 (02) 8258 9156
^ As at 30 September 2014, before fees and taxes.
* Source: Benchmark for the Resolution Capital Global Property Securities Fund is UBS Global Investors Index (AUD Hedged TRI) from inception (September 2008).
The information in the attached publication is for general information purposes only and is not considered advice. It does not have regard to a specific investment objective, financial situation or the particular needs of any person. You should also note that the returns from investments may fluctuate and that past performance is not necessarily a guide to future performance. Interests in the Resolution Capital Funds are issued by Pinnacle Fund Services Limited, ABN 29 082 494 362, AFSL 238371. Resolution Capital Limited and Pinnacle Fund Services Limited believes the information contained in this communication is reliable, however no warranty is given as to its accuracy and persons relying on this information do so at their own risk. Please read the Product Disclosure Statement available at www.rescap.com/funds in its entirety before making an investment decision