The Resolution Capital Global Property Securities PIE Fund (“Fund”) is a PIE-compliant New Zealand-domiciled fund with investments managed by Resolution Capital Limited (“Resolution Capital”). FundRock NZ Limited is the issuer and manager of the Fund. The Fund is registered as an offer within the Resolution Capital Investment Funds (a Managed Investment Scheme) under the Financial Markets Conduct Act 2013 and is regulated by the FMA.
The Fund primarily invests in listed property and property related securities, including real estate investment trusts ("REITs"), that derive most of their returns from rental income. The Fund’s investments provide exposure to a range of underlying real estate from around the world including but not limited to office buildings, shopping centres, industrial warehouses, residential communities, data centres and towers, self-storage, hotels and healthcare facilities. The Fund may also have exposure to companies which undertake activities such as real estate development, real estate construction contracting and real estate funds management activities.
The Fund aims to provide income and some capital growth over the long-term. In particular, the Fund aims to achieve an annual total return that exceeds the total return of the benchmark after fees on a rolling 3-year basis.
Resolution Capital Limited is the Fund’s investment manager and is responsible for making recommendations and decisions about what the Fund invests in. The Fund is invested in accordance with Resolution Capital’s investment philosophy and process.
Resolution Capital is an active manager and believes that the ultimate driver of returns from real estate and infrastructure securities is the quality and level of sustainable cash earnings generated by the underlying assets. As a result, Resolution Capital’s investment process is focused on evaluating these cash-flows consistently across real estate and infrastructure sectors and regions. Resolution Capital believes that listed real estate and infrastructure provides an excellent means of gaining exposure to the returns of some of the world’s highest quality real estate and infrastructure assets.
The investment team has a strong track record of performance in listed real estate investment, with one of the longest track records in both the global and Australian REIT arenas. The team has considerable experience in real estate, with diverse backgrounds including real estate valuation, development, funds management, capital transactions, stock broking and economic research.
Investment Manager
Resolution Capital Limited
Investment Policy and Objectives
The Fund aims to achieve an annual total return that exceeds the total return of the Benchmark after fees on a rolling 3 year basis. The Fund aims to provide income and some capital growth over the long-term.
Investment Strategy
The Fund invests primarily in REITs and real estate securities that are listed, or soon to be listed, on stock exchanges around the world and will also have some exposure to cash.
Benchmark
The benchmark of the Fund is the FTSE EPRA/Nareit Developed Index Net TRI (100% edged to NZ dollars).
