The investment objective of Schroder Real Estate Investment Trust ('the Company') is to provide shareholders with an attractive level of income together with the potential for income and capital growth as a result of its investments in, and active management of, a diversified portfolio of UK commercial real estate.
The investment policy of the Company is to own a diversified portfolio of UK real estate underpinned by good fundamental characteristics. The Group invests principally in the industrial, office and retail sectors and will also consider other sectors including mixed-use, residential, hotels, healthcare and leisure.
Independent Board of Directors
Discrete Yearly Performance (%)
12 months to Jun-2022
12 months to Jun-2021
12 months to Jun-2020
12 months to Jun-2019
12 months to Jun-2018
Share Price (1)
Net Asset Value Total Return (2)
SREIT Real Estate Total Return (3)
MSCI Balanced Monthly and Quarterly index funds (3)
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 The 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 costs of £27.4 million.
3 Source: MSCI Balanced Monthly and Quarterly Index funds (including indirect investments on a like-for-like basis).
As at 31 March 2022
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.
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.
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.
Our monthly investment trust newsletter keeps you up to date with our latest events and insights from Schroders Fund Managers and subject matter experts
Fund Managers Bradley Biggins and Nick Montgomery presented the Company’s annual results for the 12 month period ending 31 March 2022.
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.
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.