Ground Rents Income Fund plc - GRIO

Why invest in GRIO?

  • Diversified - highly-diversified, long-term portfolio of approximately 19,000 units across 400 assets with a low default risk
  • Predictable - predictable revenue with upward-only rental increases
  • Long-term - Weighted average unexpired lease term of 343 years
  • Non-correlative - uncorrelated to residential, commercial or alternative assets
  • Inflation-hedged - 71% of the portfolio is index-linked, predominantly to the Retail Prices Index (‘RPI’)
  • Income - quarterly dividend payments

Meet the manager

""We aim to deliver sustainable, long-term performance by investing in long-dated ground rents."

Chris Leek

Independent Board of Directors

Performance and charges

For further performance data please view the latest factsheet or visit the London Stock Exchange website

Ongoing charge: 2.4%

Discrete yearly performance (%)

Discrete Yearly Performance (%)

Q1 2021 Q1 2022

Q1 2020 Q1 2021

Q1 2019 Q1 2020

Q1 2018 Q1 2019

Q1 2017 Q1 2018

Share Price (1)

-8.7

0.7

-26.0

-17.8

-16.8

Shareholder Total Return (2)

-4.4

6.2

-23.6

-14.6

-14.1

NAV Total Return(3)

-7.3

-1.5

-0.1

-6.0

-6.0

Issued in June 2022.

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 you may not get back the amount originally invested.

1 Source: Schroders, Datastream, bid to bid price with net income reinvested in GBP.

2 Source: Schroders Capital, Datastream, bid to bid price

3 Source: Schroders Capital, NAV to NAV (per share) plus dividends paid

Regulatory news updates

Top 10 Holdings

as at 31 March 2022*

Investment objective

The Company will seek to generate consistent income returns for shareholders by investing in a diversified portfolio of long-dated ground rents.

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Investing in Ground Rents Income Fund plc

What are the risks?

The Company may be concentrated in a limited number of geographical regions, industry sectors, markets and/or individual positions. This may result in large changes in the value of the fund, both up and down, which may adversely impact the performance of the fund. 

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 increases in value by more than the cost of borrowing, or reduces the returns if they fail to do so.  

As a result of fees being charged to capital, the distributable income of the fund may be higher but there is the potential that performance or capital value may be eroded. 

The Government has been considering reforms to the residential leasehold system and building safety regime since 2017. This has created uncertainty and impacted the Company’s valuation.  The final outcome of future legislation remains unclear and could negatively impact the Company’s portfolio further. The Board of the Company and Schroders as Investment Manager are working to protect shareholders’ interests and further details are contained in interim results to 31 March 2022. 

Non-Mainstream Pooled Investments (NMPI) Status

The Company currently conducts its affairs so that its shares can be recommended by IFAs to ordinary retail investors in accordance with the FCA's rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The Company's shares are excluded from the FCA's restrictions which apply to non-mainstream investment products because they are shares in an investment trust.

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Please remember that the value of investments and the income from them may go down as well as up and investors may not get back the amounts originally invested.

Marketing material

Issued by Schroder Unit Trusts Limited, 1 London Wall Place, London EC2Y 5AU. Registered Number 4191730 England.

Schroder Unit Trusts Limited is an authorised corporate director, authorised unit trust manager and an ISA plan manager, and is authorised and regulated by the Financial Conduct Authority.

On 17 September 2018 our remaining dual priced funds converted to single pricing and a list of the funds affected can be found in our Changes to Funds. To view historic dual prices from the launch date to 14 September 2018 click on Historic prices.