International Real Estate Securities
Our International Real Estate Securities Strategy seeks capital appreciation and income through investments in the real estate equity securities of companies located primarily in developed markets in Asia and Europe. As the markets evolve and REIT-like structures become more prevalent, an increasing portion of the total return is expected to come from dividend income.
The portfolio typically invests in 35-40 companies actively engaged in the ownership, management and development of real estate. Holdings are diversified across regions, countries and property sectors. The strategy is opportunistic and focused on those countries and sectors with the greatest growth potential, where economic and real estate fundamentals are most attractive. An emphasis is placed on under-valued, under-appreciated and/or lesser-known companies, which are well-managed and well-positioned to capitalize on the trends in their respective markets. Our investment style is value driven and combines top-down/bottom-up analysis. Our investment themes and stock selections are determined by fundamental company, country and property sector analysis.