Schroder ISF* Global Cities Real Estate

Schroder ISF Global Cities Real Estate

The Schroders Global Cities approach is unique. This is because the team invests by first understanding where a company owns real estate. Their philosophy is that the rents of a company should increase faster the closer to the point of consumption the properties are. This means they have pricing power. This means, the larger and wealthier a population in a city is, the more rent a property owner can charge. This, in the long-term, should be beneficial to an investor.

5 reasons to invest

1. Easy access to property

2. Gain exposure to commercial real estate from global cities

3. Access cutting-edge data insights on global cities

4. Capture urbanisation trends

5. Benefit from real estate exposure across multiple channels

Meet the managers

Tom Walker

Tom Walker

Co-head of Global Real Estate Securities


  • BA Hons in Politics from University of Newcastle Upon Tyne
  • Graduate Diploma in Real Estate from London South Bank University
  • Fully qualified Chartered Surveyor and a member of the Royal Institution of Chartered Surveyors.

Hugo Machin

Hugo Machin

Co-Head of Global Real Estate Securities


  • BA Hons in English Literature from Durham University
  • MSc in Real Estate Finance and Investment from Reading University
  • Diploma in Cross Border Valuation from Oxford Said Business School.

GlobalCities @GlobalCities_ on Twitter

For more information please visit run by the Global Cities team at Schroders.

What are the risks?

  • China country risk: Changes in China's political, legal, economic or tax policies could cause losses or higher costs for the fund.
  • Counterparty risk: The counterparty to a derivative or other contractual agreement or synthetic financial product could become unable to honour its commitments to the fund, potentially creating a partial or total loss for the fund.
  • Currency risk: The fund can be exposed to different currencies. Changes in foreign exchange rates could create losses.
  • Derivatives risk: A derivative may not perform as expected, and may create losses greater than the cost of the derivative.
  • Equity risk: Equity prices fluctuate daily, based on many factors including general, economic, industry or company news.
  • Leverage risk: The fund uses derivatives for leverage, which makes it more sensitive to certain market or interest rate movements and may cause above-average volatility and risk of loss.
  • Liquidity risk: In difficult market conditions, the fund may not be able to sell a security for full value or at all. This could affect performance and could cause the fund to defer or suspend redemptions of its shares.
  • Operational risk: Failures at service providers could lead to disruptions of fund operations or losses.
  • Capital risk / distribution policy: the expenses of this share class are paid out of capital rather than out of investment income. Capital growth will be reduced and in periods of low growth capital erosion may occur.

Discrete yearly performance

Schroder ISF Global Cities Real Estate C Acc

Q2 2017 - Q2 2018

Q2 2016 - Q2 2017

Q2 2015 - Q2 2016

Q2 2014 - Q2 2015

Q2 2013 - Q2 2014

Discrete yearly performance

+6.3% +2.5% +6.4% -1.5% +11.7%

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: FE Analytics, bid to bid with net income reinvested to 30 June 2018, C Acc NAV share class, net of fees in USD.

Investing in the fund


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