Global Cities Real Estate

Helping you invest in companies that own the best real estate

Team Biographies

Tom and Hugo have led the approach to Global Cities at Schroders. They’ve worked in real estate investing for over 20 years and their approach is based on a simple premise: planned urbanisation has the potential to protect and enhance investor returns. By investing in the tradeable shares of property companies, they can access some of the most economically vibrant cities across the world.

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.

Favourite City: San Francisco

Why: The Golden Gate Bridge, Alcatraz, Chinatown, a dramatic setting with its steep rolling hills and interesting architecture.  There’s so much to do in the city and it’s a great starting point for many other adventures – the Napa Valley, Pacific Coast Highway, Yosemite National Park – to name but a few.  History tells you that there is often something dramatic taking place, from the gold rush of the 1800s, the 1970s hippies to today’s tech unicorns, it is a city that never stays the same. 


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

Favourite city: Hong Kong

Why: Hong Kong is a city that is constantly buzzing. It was the first place I went to long-haul as a ‘unaccompanied minor’. I remember leaving Heathrow having never experienced anywhere outside Europe before. Landing at the old Hong Kong airport which jutted out of the harbour was an eye-opener, as was driving through the high rise of Kowloon before crossing the harbour to Hong Kong Island. For me, Hong Kong has never lost the thrill of that first visit. Hong Kong is one of the world’s major trading hubs but a few miles away from the frenzy of ‘Central’ you can be hiking in National Parks.

Jon Consolo


Equities Analyst, Global Real Estate Securities

  • Financial Risk Management at London School Economics & Political Science, (Executive Program 2013)
  • Chartered Alternative Investment Analyst (CAIA), charterholder, 2010
  • BA in Finance & Real Estate at Luigi Bocconi University, Milan


Favourite city: Tokyo

Why: Tokyo is a bustling city that never sleeps. It leads the way in many new trends and is always reinventing itself. Be it fashion or tech, Tokyo offers a glimpse into the future. And while it’s an ultra-modern city, it still has firm roots in traditional Japanese culture, which I find fascinating. The contrast between the modern Akihabara district and the shrines in Asakusa couldn’t be bigger!  

Ryan Bennett


Securities Analyst, Real Estate

  • BSc Finance and Management
  • CFA charterholder

Favourite city: Barcelona

Barcelona is a city you can keep coming back to and have a different and rewarding experience every time. You could be out hiking around the Monserrat Mountain during the day and be back downtown by the beach in time for happy hour. The city’s cultural offerings are also top notch, highlighted by the architectural works of Gaudi. For an indecisive foodie like me, nothing beats picking at all the options presented at the Mercado de La Boqueria in the heart of the city. 

Ben Forster


Equity Analyst, Global Real Estate

  • BEng (Hons) Product Design and Manufacture, Loughborough University, July 2008
  • Chartered Financial Analyst, October 2012
  • Investment Management Certificate, November 2008

Favourite city: London

London offers something for everyone and is constantly evolving. Historical landmarks such as Tower Bridge, the Houses of Parliament and St Paul’s Cathedral now rub shoulders with the steel and glass towers of the City, but continue to offer iconic views to brighten up the commute on a cloudy day. Having spent years living in the city, I’ve found London’s green space to be its greatest advantage over other global cities. Its many parks provide the opportunity to escape the hustle and bustle whilst still admiring the unique skyline. My favourite spots include the view from Parliament Hill on Hampstead Heath and along the Thames from the Royal Observatory in Greenwich Park.


Risk considerations

  • Counterparty risk: The fund may have contractual agreements with counterparties. If a counterparty is unable to fulfil their obligations, the sum that they owe to the fund may be lost in part or in whole.
  • Currency risk: The fund may lose value as a result of movements in foreign exchange rates.
  • Derivatives risk – efficient portfolio management: Derivatives may be used to manage the portfolio efficiently. A derivative may not perform as expected, may create losses greater than the cost of the derivative and may result in losses to the fund.
  • Emerging Markets & Frontier risk: Emerging markets, and especially frontier markets, generally carry greater political, legal, counterparty, operational and liquidity risk than developed markets.
  • IBOR risk: The transition of the financial markets away from the use of interbank offered rates (IBORs) to alternative reference rates may impact the valuation of certain holdings and disrupt liquidity in certain instruments. This may impact the investment performance of the fund.
  • 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.
  • 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.
  • 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.

Important information:

For professional investors and advisers only. The material is not suitable for retail clients. We define "Professional Investors" as those who have the appropriate expertise and knowledge e.g. asset managers, distributors and financial intermediaries

This information is a marketing communication. This information is not an offer, solicitation or recommendation to buy or sell any financial instrument or to adopt any investment strategy. Information herein is believed to be reliable but we do not warrant its completeness or accuracy. Schroders has expressed its own views and opinions in this document and these may change. 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.  Exchange rate changes may cause the value of any overseas investments to rise or fall. Past Performance is not a guide to future performance and may not be repeated. This document does not constitute an offer to anyone, or a solicitation by anyone, to subscribe for shares of Schroder International Selection Fund (the “Company”). Nothing in this document should be construed as advice and is therefore not a recommendation to buy or sell shares.

Subscriptions for shares of the Company can only be made on the basis of its latest Key Investor Information Document and prospectus, together with the latest audited annual report (and subsequent unaudited semi-annual report, if published), copies of which can be obtained, free of charge, from Schroder Investment Management (Europe) S.A.

Issued in December 2020 by Schroders Investment Management Ltd registration number: 01893220 (Incorporated in England and Wales) is authorised and regulated in the UK by the Financial Conduct Authority and an authorised financial services provider in South Africa FSP No: 48998.

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*Schroder International Selection Fund will be referred to as Schroder ISF throughout this website

Important Information

Collective investment schemes are generally medium to long-term investments.

The value of participatory interests or the investment may go down as well as up.

Past performance is not necessarily a guide to future performance.

Collective investment schemes are traded at ruling prices and can engage in borrowing and scrip lending.

A schedule of fees and charges and maximum commissions is available on request from the manager

The manager does not provide any guarantee either with respect to the capital or the return of a portfolio

The performance is calculated for the portfolio. The individual investor performance may differ as a result of initial fees, the actual investment date, the date of reinvestment and dividend withholding tax. All fund performance data are on a NAV to NAV basis, net income reinvested and net of ongoing charges and transaction costs. Data is not available for the time periods with no % growth stated. In case a share class is created after the fund's launch date, a simulated past performance is used, based upon the performance of an existing share class within the fund, taking into account the difference in the ongoing charges and the portfolio transaction costs, and including the impact of any performance fees if applicable.

Annualised return is the weighted average compound growth rate over the period measured.