Schroder European Real Estate Investment Trust - SERE

A long-term sustainable income and value from growing European cities

Why invest in SERE?

A unique and compelling opportunity to invest in a diversified portfolio of commercial Continental European real estate

  • Income considered to be a strong inflation hedge with all leases subject to indexation and c.80% annually indexed
  • Attractive ordinary dividend yield of 5.3% on current NAV and circa 8.0% on current share price (as at 30 November 2022)
  • Significant investable firepower and strong balance sheet
  • No real estate exposure in Eastern Europe
  • Local investment and asset management teams with specialist sector and country knowledge
  • Hospitality led approach to asset management and tenant relationships enhancing returns
  • 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 market leading expertise
  • 100% of the portfolio by value located in higher-growth regions

Top 10 Investments

as at 30 September 2022

Our focus on winning cities

Demand is increasingly concentrated in 'Winning Cities', offering a competitive advantage in terms of higher levels of GDP, employment and population growth; differentiated local economies with higher-value industries; well-developed infrastructure; and places where people want to live and work.

The Portfolio Manager

"We focus on locations within European growth cities that will benefit from rapid urbanisation in order to deliver long term sustainable income and value."

Jeff O'Dwyer
Fund Manager, European Real Estate

Independent Board of Directors

Performance and charges

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

Ongoing charge: 2.20%

Discrete yearly performance (%)

Discrete Yearly Performance (%)

Q3 2021 -Q3 2022

Q3 2020 -Q3 2021

Q3 2019 -Q3 2020

Q3 2018 -Q3 2019

Q3 2017 -Q3 2018

Share Price Total Return (GBP) (1)

-0.8

77.2

-40.9

3.3

9.5

Net Asset Value Total Return (Euro) (2)

7.3

3.2

16.2

4.1

7.5

Net Asset Value Total Return (converted to GBP) (3)

9.8

-2.3

18.9

3.4

8.9

Issued in December 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, NAV to NAV (per share) plus dividends

3 Source: Schroders, NAV to NAV (per share) plus dividends paid. Converted into GBP.

Sustainability

We believe it is our responsibility as real estate investors to identify, understand and manage environmental, social and economic impacts, positive and negative, to deliver resilient investment returns for the long term and manage exposure to impacts of financial and non-financial risks.

Awards

gresb 4

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.

PROPERTY - ACTIVE - SERE AJ BELL SEP 22

Source: AJ Bell, Fund and Investment Trust Awards 2022

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Investing in Schroder European Real Estate Investment Trust

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 rise and fall and investors may 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 may 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.

The fund holds investments denominated in currencies other than sterling, changes in exchange rates will cause the value of these investments, and the income from them, to rise or fall.

The dividend yield is an estimate and is not guaranteed.

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.