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Asia Pacific Real Estate

Lead Manager

Etsuro AKIYAMA

PERFORMANCE TARGET

No set target. Typically the Reference Benchmark +3-5% p.a.

STYLE

Growth at a Reasonable Yield (GARY)

REFERENCE BENCHMARK

S&P Asia Pacific REIT Index

Asia Pacific Real Estate combines diverse opportunities for capital growth with an environment suited to active management. We follow a ‘growth at a reasonable yield’ approach investing in high quality growth firms that provide superior capital appreciation as well as an attractive yield.

 

Lead Manager

Etsuro AKIYAMA

Key Strengths

Experience

Highly experienced portfolio manager with over 20 years’ experience of investing in listed real estate and prior to that over a decade of investing in physical real estate.

Local Expertise

Our team are strategically located in key Asia Pacific markets which allows for a deeper understanding of local REITs

Strong Track Record

Strong performance versus peers: the team manages a representative APAC REITS strategy that is amongst the top performing strategies in the eVestment APAC REIT universe over 3 and 5 years and since inception.*

Investment Approach

Product Philosophy

It is our belief that in-depth bottom-up analysis and top-down market inputs are the best way to determine quality REIT investments that will deliver growth at a reasonable yield (GARY). As such, we seek to invest in REITs with robust business models that are capable of delivering growth at a reasonable yield.

Our investment team has the local knowledge and active management experience to deal with the key challenges and inefficiencies posed by the ever-changing Asian real estate market.

Investment approach and style

The strategy aims for long-term growth of its assets through investment in real estate securities such as real estate investment trusts (REITs) in Asia Pacific countries and regions including Japan.

We usually prefer to target REITs with favourable yields (not necessarily the highest yield) that also have the capacity to grow their dividend over time.

These stocks are at the heart of our ‘growth at reasonable yield’ (GARY) style. Our investment team will closely assess the quality of a company, including earnings and cash flows, and this will eventually determine its capability to maintain and grow dividends. This unique style has been created with a recognition that traditional factor approaches tend not work in this area.

With our approach, that combines aspects of both growth and value investing, we believe that we can outperform the reference benchmark over the long term.


SFDR Sustainability Reports

SMDAM Sustainability Homepage

SFDR Disclosure – APAC REIT (Article 6)


*Source: eVestment Analytics, as of 31 December 2020

Risk Warning: Past performance is not a reliable indicator of future performance and may not be repeated. An investment’s value and the income deriving from it may fall, as well as rise, due to market fluctuations. Investors may not get back the amount originally invested.
Some statements contained in this material concerning goals, strategies, outlook or other non-historical matters may be forward-looking statements and are based on current indicators and expectations. These forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements. The Company and/or its affiliates may or may not have a position in any financial instrument mentioned and may or may not be actively trading in any such securities.

Key Facts

Lead Manager

Etsuro AKIYAMA

PERFORMANCE TARGET

No set target. Typically the Reference Benchmark +3-5% p.a.

STYLE

Growth at a Reasonable Yield (GARY)

REFERENCE BENCHMARK

S&P Asia Pacific REIT Index

TRACKING ERROR RANGE

n/a

NO. OF HOLDINGS RANGE

Typically circa 30-50

OFFERED AS A SEGREGATED STRATEGY?

No

OFFERED AS A POOLED STRATEGY?

Yes

INCEPTION DATE

1 April 2013

GIPS® COMPLIANCE

No

Thought Pieces

19 August 2020

Asian Real Estate - A Rare Combination of Higher Yield, Growth and Diversification

03 November 2020

Opportunities in Asia Pacific REITS

07 December 2020

Outlook for Asia Pacific Real Estate Securities