Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Has all the value disappeared from commercial property?

Michael Morris, manager of the Picton Property Income trust, tells Wealth Manager that the re-rating of property trusts’ shares is not the end of the story.

The average constituent of the UK Direct Property sector now trades on a 13% premium to its net asset value (NAV), but Morris argues that NAV growth – although it won’t be spectacular – can support those valuations.

Picton Property Income has returned 69% over the past year and 533% on a five-year view, compared with peer-group averages of 33% and 223% respectively over the same periods.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: Rathbones' fund boss on spotting emerging talent

Profile: Rathbones' fund boss on spotting emerging talent

A great fund manager is really easy to spot, says Mike Webb, chief executive of Rathbones Unit Trust Management

Wealth Manager on Twitter