Schroder Real Estate Investment Trust
Schroder Real Estate Investment Trust Limited (SREIT) was established in 2004 and aims to provide shareholders with an attractive level of income together with the potential for income and capital growth through investing in UK commercial real estate.
Key reasons to invest:
- The portfolio has generated a long term track record of outperformance compared with comparable real estate portfolios.
- The investment themes and strategy are focused on winning cities and towns offering; high levels of GDP, employment and population growth; well-developed infrastructure and places where people want to live as well as work
- The portfolio is principally invested in the three main UK commercial real estate sectors of office, industrial and retail, and may also invest in other sectors including, but not limited to, residential, leisure, healthcare and student accommodation.
SREIT has been managed since launch by Duncan Owen, Global Head of Real Estate and Nick Montgomery, Head of UK Real Estate Investment, who have a combined investment experience of more than 45 years.
On 1 May 2015, SREIT converted to a Real Estate Investment Trust ('REIT') in order to benefit from the various tax advantages offered by the UK REIT regime.
|Performance||Q2 2015 - Q2 2016||Q2 2014 - Q2 2015||Q2 2013 - Q2 2014||Q2 2012 - Q2 2013||Q2 2011 - Q2 2012|
|Net asset value total return||10.8||21.9||20.6||-2.9||6.6|
|SREIT Real Estate Total Return||11.3||19.4||17.4||2.1||6.1|
|MSCI Quarterly Version of Balanced Monthly Index Funds||9.1||15.7||15.8||3.1||4.1|
¹ Source: Schroders, Datastream, bid to bid price with net income reinvested in GBP.
² Source: Schroders, NAV to NAV (per share) plus dividends distributed.
³ Source: MSCI Quarterly Version of Balanced Monthly Index Funds (including indirect investments on a like-for-like basis)
Tony Smedley, Head of Continental European Investment
Tony is responsible for the management and investment of the Continental European real estate funds platform at Schroders. This involves fund and asset management, resourcing, capital raising and business development. He is also a member of the Schroder Real Estate Investment Committee.
Tony is Fund Manager of the European Real Estate Investment Trust and Immobilien Europa Direkt, a fund joint venture with Zurich, both of these investing on a Pan European basis.
Duncan Owen, Global Head of Real Estate
Duncan has been Fund Manager of Schroder Real Estate Investment Trust since launch in 2004. Duncan is Global Head of Real Estate at Schroders and therefore responsible for managing the real estate business as a whole. Duncan is also Chairman of the Schroder Real Estate Investment Committee. Prior to joining Schroders in 2012 Duncan was Chief Executive Officer of Invista Real Estate and Managing Director of the real estate division at Insight Investment. Prior to this he was a founding partner of specialist boutique, Gatehouse Investment Management. During his career he was also a partner at Jones Lang Wootton and a director at LaSalle Investment Management. Duncan is a member of the Royal Institution of Chartered Surveyors, a member of the British Property Federation’s Policy Committee and is an FCA approved person.
Nick Montgomery, Head of UK Real Estate
Nick is joint Fund Manager of Schroder Real Estate Investment Trust and has been involved in the portfolio since launch. Nick is also Head of UK Real Estate Investment at Schroder Real Estate. Prior to joining Schroders in 2012 Nick was Head of UK Commercial Funds at Invista Real Estate and prior to that worked with Duncan at Insight Investment and Gatehouse Investment Management. Nick started his investment management career in 1999 at LaSalle Investment Management where he was a director responsible for managing various real estate funds. Nick holds a BSc (Hons) in Estate Surveying from Nottingham Trent University. He is a member of the Royal Institution of Chartered Surveyors and an FCA approved person.
Melinda Knatchbull, Chief Executive Officer
Melinda Knatchbull is responsible for the financial and accounting aspects of Schroder Real Estate. Melinda is also Chief Operating Officer for Schroder Real Estate. Prior to joining Schroders in 2012 Melinda was instrumental in the creation and IPO of Invista Real Estate in 2006, initially as Financial Controller and subsequently the Head of Fund Accounting. Melinda was previously Head of Financial Planning and Analysis at Insight Investment, having qualified as a Chartered Accountant with Ernst and Young. Melinda holds a degree from Cambridge University and is a fellow of the Institute of Chartered Accountants England and Wales.
Andrew is responsible for debt and corporate finance activity undertaken by Schroder Real Estate Investment Trust. Andrew is also Head of Real Estate Finance at Schroder Real Estate. His role focuses on managing the capital structure of funds and investments, including originating, structuring and managing debt finance and raising equity. Andrew also oversees interest rate and foreign exchange hedging. Prior to joining Schroders in 2012 Andrew worked at Invista Real Estate. Prior to joining Invista, Andrew was an Associate in the Commercial Mortgage-Backed Securities team at HSBC. He began his career in the real estate team at Ernst & Young and qualified as a Chartered Surveyor with Knight Frank. Andrew holds a degree from the University of Cambridge and is an FCA Approved Person.
Schroder Real Estate Direct Investment Committee
Duncan Owen, Global Head of Real Estate (Chair)
Nick Montgomery, Head of UK Real Estate Investment
Tom Walker, Co-Head of Global Real Estate Securities
Tom Walker, along with Hugo Machin, co-manages Schroder Global Cities Real Estate, Schroder Global Real Estate Securities Income, Schroder ISF Global Cities Real Estate, Schroder ISF Asia Cities Real Estate as well as a number of segregated mandates. Tom joined Schroders in July 2014 from AMP Capital, where he worked with for over 8 years. He has over 16 years of real estate experience. Tom worked at Jones LaSalle for 6 years prior to joining AMP in 2005. He has a BA (Hons) in Politics from the University of Newcastle Upon Tyne and a Graduate Diploma in Real Estate from London South Bank University.
James Lass, UK Real Estate Fund Manager
James Lass joined Schroder Real Estate in 2006 and is Fund Manager for the Schroder UK Real Estate Fund. James is responsible for delivering the fund’s strategy and business plans of each individual investment. James has five years investment experience within a private practice and prior to that worked at Savills and Allsop.
James holds an MA in Property Valuation & Law and a BA (Hons) in Public Policy and Management. He is a member of the Royal Institution of Chartered Surveyors.
Mark Callender, Head of Real Estate Research
Mark joined Schroders in April 2016 and is responsible for Schroders’ UK and international real estate research. Mark was previously Research Director for IPD and was responsible for IPD’s regular publications and indices covering European markets. His investment career commenced in 1990 upon joining IPD as a research manager having previously worked at House-builders Federation as Chief Economist from 1987.
Mark is a Member of Society of Property Researchers, Investment Property Forum and Pan European Property Common Interest Group. He has a BA in Economics from York University and has 25 years’ real estate experience.
Investors are increasingly turning to real estate to gain exposure to real assets that produce an attractive income return as well as the potential for capital growth. The new Schroder European Real Estate Investment Trust offers investors access to the dynamic continental European real estate markets, as well as the extensive experience of a dedicated investment team based in the target markets, led by Tony Smedley at Schroder Real Estate Investment Management (REIM).
In turbulent times for global markets, the skilful management of high quality real estate assets continues to offer potential for attractive capital and income returns. With a focus on providing diversified exposure to assets in the right locations in the right UK cities, the long-established Schroder Real Estate Investment Trust could be an attractive option for investors.
A year of many historical anniversaries, 2016 marks 420 years since the death of Sir Francis Drake, the first Englishman to circumnavigate the globe. On board his ship, the Golden Hind, expert sailors would use compasses, log lines and maps to safely guide the crew to their final destination, often through unfamiliar territories.
It’s not often that you hear Queen Elizabeth II and investment trusts mentioned in the same breath – but like her majesty, at least 10% of UK investment trusts have been in existence for 90 years or more.
This article illustrates the important differences between investment trusts and unit trusts, and is designed to help investors make the investment decision which is right for them.
St Peter Port
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- William Simmonds
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The London Stock Exchange Building
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- David Benda
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- Dido Laurimore
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Services (Guernsey) Limited
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- David Sauvarin
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What are the risks?
- Past performance is not a guide to future performance and may not be repeated.
- The value of investments, and the income from them, can go down as well as up and investors might not get back the amount originally invested.
- Companies which invest in a smaller number of assets carry more risk than those spread across a larger number of assets.
- The Company will invest solely in property located in one country or region. This can carry more risk than investments spread over a number of countries or regions.
- The Company may borrow money to invest in further investments, this is known as gearing. Gearing will increase returns if the value of the assets purchased increase in value by more than the cost of borrowing, or reduce returns if they fail to do so.