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UK PROPERTY
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Philosophy

Our investment management style is to invest in properties and/or products offering a combination of income and capital growth. The balance between ‘value’ and ‘growth’ depends on the investment requirements of each client and the state of the market.

Our investment philosophy is to be research-led, analytical and value-adding, with a dedicated team for our Fund of Funds and multi-manager business.

We are research-led, through the application of forecasts and analysis to portfolio construction. Research provides a disciplined and consistent framework for the exercise of fund and asset managers’ individual skill and flair. We pay particular attention to this area. Specifically, the outputs from our research team are designed for practical application in asset allocation, stock selection and ongoing asset and portfolio management. We consider that our analytical approach and this close teamwork between fund managers, asset managers and the research analysts, differentiates us from our competitors.

We are analytical in the sense that all properties and/or products and the strategies upon which they are based, are thoroughly screened before and after investment, to assess their potential, both individually and as part of a wider investment portfolio. We understand property as a financial asset, and apply techniques used for other investment markets to understand property’s role in a multi-asset portfolio, to analyse risk, and to identify and exploit market mis-pricings. Investment strategy is formalised through portfolio business plans, which are monitored and reviewed as market conditions evolve, but at least on an annual basis.

We are value-adding at each stage in the investment process:

  • ‘top-down’ through an optimised portfolio structure, which targets under-priced countries and sectors expected to deliver above average performance, and maximises return for a given level of risk, consistent with each client’s investment objectives. Our established network, and the experience of the team in property investment, ensures clients of full market coverage and excellent deal sourcing capabilities.
  • ‘bottom-up’ through good property and/or product selection and due diligence.

Our philosophy has remained consistent and there are no plans to change this going forwards.