Fund man­ager

Finweek English Edition - - FUND IN FOCUS - THE FUND IS

bet­ting on com­mer­cial prop­erty across the board in the US. This in­cludes re­tail and in­dus­trial space, data cen­tres, hos­pi­tals, stor­age and ho­tels, ac­cord­ing to fund man­ager Jamie Boyes.

“We are cur­rently see­ing some nice value in the apart­ment space in New York,” he says.

De­mand for these rental prop­er­ties is driven by a de­cline in the home­own­er­ship rates in the US, Boyes says.

The fund still sees value in “good-qual­ity re­tail”, ac­cord­ing to him. These in­clude high-end malls. As online shop­ping in­creases its share of the mar­ket, Boyes says that de­mand for brick-and-mor­tar re­tail out­lets will re­main.

The fund steers clear from real es­tate de­vel­op­ment, which could be “volatile”, and rather in­vests in com­pa­nies with an ex­ist­ing rental in­come stream, he says.

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