Schroder Real Estate Investment Trust - SREI

Seeking attractive income with capital growth potential from a portfolio of UK commercial real estate

Key facts about SREI’S portfolio as at 31 December 2022.

Portfolio value

£470m

Number of properties

41

NAV total return for the six months to 31 December 2022

-8.1%

SREI delivered outperformance of the IPD MSCI Benchmark1 over the quarter

1.8%
Source: Schroders, February 2023
1The MSCI UK Balanced Portfolios Quarterly Property Index as at 31 December.

Why invest in SREI?

  • Dynamic portfolio allocation and active asset management provides the means to generate a sustainable rising income, as well as capital growth across market cycles.
  • A diverse and highly experienced team of investment specialists that facilitate a deep understanding and coverage of all commercial real estate sectors across the UK.
  • Market Leading data-led ESG framework, with a focus on driving demonstrable improvements to the sustainability profile of portfolio assets.

Top 15 holdings

As at 31 December 2022

Interim Results Webinar - November 2022

Managers Nick Montgomery and Bradley Biggins presented the trust's interim results for the period ending 30 September 2022.

The Portfolio Managers

Nick Montgomery
Head of UK Real Estate Investment
Bradley Biggins
Portfolio Manager

Independent Board of Directors

Performance and charges

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

Discrete yearly performance (%)

Discrete yearly performance (%)

12 months to

Dec-2022

12 months to

Dec-2021

12 months to

Dec-2020

12 months to

Dec-2019

12 months to

Dec-2018

Share Price1

-16.0

45.3

-26.5

1.3

-1.5

SREIT NAV Total Returns2

-8.1

24.9

-2.4

-6.9

7.8

SREIT Real Estate Total Returns3

-2.9

19.2

0.7

3.9

9.5

MSCI Balanced Monthly and Quarterly Index funds3

-9.1

16.7

-1.3

1.7

6.6

Issued in February 2022

Past performance is not a guide to future performance and may not be repeated. 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.

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

2The Company completed the refinancing of its £129.6 million loan with Canada Life in October 2019. This extended the average maturity from 8.5 to 16.5 years and reduced the interest rate from 4.4% to 2.5% per annum. The refinancing generated an immediate interest saving of £2.5 million per annum. The refinancing incurred a one-off cost of £27.4 million.

3MSCI Balanced Monthly and Quarterly Index funds (including indirect investments on a like-for-like basis).

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.

epra sbpr

The EPRA Sustainability Best Practices Recommendations (sBPR) Guidelines provide a consistent way of measuring sustainability performance in the same way that BPR for financial reporting have made the financial statements of listed real estate companies in Europe clearer and more comparable. sBPR are intended to raise the standards and consistency of sustainability reporting for listed real estate companies across Europe.

GRESB 3 Three star rating SREI

The Global Real Estate Sustainability Benchmark (GRESB) is a mission driven 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.

INtegrated sreit v2

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Investing in Schroder Real Estate Investment Trust

What are the risks?

Investments in real estate are relatively illiquid and more difficult to realise than equities or bonds.

Yields may vary and are not guaranteed.

The use of gearing is likely to lead to volatility in the Net Asset Value ("NAV") meaning that a relatively small movement either down or up in the value of the Company's total assets will result in a magnified movement in the same direction of that NAV.

There is no guarantee that the market price of shares in a UK Real Estate Investment Trust such as SREIT will fully reflect their underlying NAV.

The value of real estate is a matter of a valuer's opinion rather than fact.

This UK Real Estate Investment Trust should be considered only as part of a balanced portfolio, of which it should not form a disproportionate part.

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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