Schroder European Real Estate Investment Trust - SERE
Seeking a long-term consistent income and value from growing European citiesWhy invest in SERE?
A unique and compelling opportunity to invest in a diversified portfolio of commercial Continental European real estate
Behind the trust: read our philosophy article >
Income profile and potential inflation hedge
Income considered to be a strong inflation hedge with all leases subject to indexation. Attractive ordinary dividend yield of circa 7.6% on current share price (as at 29 November 2023) with significant investable firepower and strong balance sheet.
Focus on ‘Winning Cities’ with feet on the ground
Portfolio focused on high growth potential regions. Local investment and asset management teams with specialist sector and country knowledge. Hospitality led approach to asset management and tenant relationships, enhancing returns.
Value creation
A track record of successfully executing on asset management initiatives to generate strong shareholder returns. Opportunity to improve portfolio sustainability credentials and leverage off Schroders Capital's expertise.
Key facts
As at 31 March 2024
€234.5m
Portfolio value
Reflects the value of directly held property assets of €208.1m and available cash of €26.4m
48
Number of tenants
€26.4m
Available cash
Calculated by deducting net assets and liabilities as well as yet to be paid dividends
24%
Loan to value net of cash
Register: Annual Results 2024
Join our webinar with Manager Jeff O'Dwyer at 09:00 on Friday 6 December as he presents the annual results of the Trust for the year ended 30 September 2024.
Performance and charges
For further performance data please download the latest factsheet or visit the London Stock Exchange website.
Ongoing charge: 2.41%
Discrete yearly performance (%)
As at 31 March 2024
Discrete Yearly Performance (%) | Q1 2023 -Q1 2024 | Q1 2022 -Q1 2023 | Q1 2021 -Q1 2022 | Q1 2020 -Q1 2021 | Q1 2019 -Q1 2020 |
Share Price Total Return (GBP) (1) | -15.1 | -21.0 | 30.8 | 45.8 | -25.2 |
Net Asset Value Total Return (2) | -1.7 | -3.1 | 9.3 | 12.6 | 5.2 |
Net Asset Value Total Return (converted to GBP) (3) | -4.4 | 1.3 | 8.2 | 7.8 | 8.5 |
Issued in June 2024. Data as at 31 March 2024.
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, NAV to NAV (per share) plus dividends paid. Calculate in Euros.
3 - Source: Schroders, NAV to NAV (per share) plus dividends paid. Converted into GBP.
Explore the map to find out more about our portfolio
As at 31 March 2024.
Portfolio in focus
Awards
The Global Real Estate Sustainability Benchmark (GRESB) is a missiondriven and industry-led organisation that provides actionable and transparent environmental, social and governance (ESG) data to financial markets. GRESB provides a consistent framework to measure the ESG performance of individual assets and portfolios based on self-reported data.
Corporate Governance
Find out more about the Company's Board, view key dates and keep up with regulatory news.
The Portfolio Manager
"We focus on locations within European growth cities that will benefit from rapid urbanisation in order to deliver long term, consistent income and value."
Jeff O'Dwyer
Fund Manager, European Real Estate
Investing in Schroder European Real Estate Investment Trust
Fund Risk Considerations
Schroder European Real Estate Investment Trust plc
Credit risk | A decline in the financial health of an issuer could cause the value of its bonds, loans or other debt instruments to fall or become worthless. |
Currency risk | The fund may lose value as a result of movements in foreign exchange rates. |
Interest rate risk | The fund may lose value as a direct result of interest rate changes. |
Liquidity risk | The fund is investing in illiquid instruments. Illiquidity increases the risks that the fund will be unable to sell its holdings in a timely manner in order to meet his financial obligations at a given point in time. It may also mean that there could be delays in investing committed capital into the asset class. |
Market risk | The value of investments can go up and down and an investor may not get back the amount initially invested. |
Operational risk | Operational processes, including those related to the safekeeping of assets, may fail. This may result in losses to the fund. |
Performance Risk | Investment objectives express an intended result but there is no guarantee that such a result will be achieved. Depending on market conditions and the macro economic environment, investment objectives may become more difficult to achieve. |
Property development risk | The Fund may invest in property development which may be subject to risks including, risks relating to planning and other regulatory approvals, the cost and timely completion of construction, general market and letting risk, and the availability of both construction and permanent financing on favourable terms. |
Real estate and property risk | Real estate investments are subject to a variety of risk conditions such as economic conditions, changes in laws (e.g. environmental and zoning) and other influences on the market. |
Concentration risk | 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 company, both up or down, which may adversely impact the performance of the company. |
Gearing risk | The company may borrow money to make further investments, this is known as gearing. Gearing will increase returns if the value of the investments purchased increase by more than the cost of borrowing, or reduce returns if they fail to do so. In falling markets, the whole of the value in that investment could be lost, which would result in losses to the fund. |