The Fund invests in highly diversified listed companies, on a global scale without geographical boundaries.
The Fund is intended for 3 investor profiles: investors in equities, investors in real estate and rent holders.
The Fund seeks to exploit the different phases of the real estate sector in different parts of the world. It focuses investment in countries located in the low point of the cycle, with prospects for improvement, or those located on the upswing, trying to avoid the overheated markets. At present, it has invested heavily in Germany and Japan, and is virtually divested from the Spanish market.
It invests primarily in rental type companies, owning real estate of all types: residential, parking, offices, shopping centers, elderly homes, dormitories, etc., and those that receive rent from the properties.
The real phase of each area is analyzed (trying to avoid any bubbles), return per rental unit accruing to firms in the portfolio, the occupancy rate and the company's financial situation. It takes into account the currencies of the companies in which investments if they are traded at a certain discount compared to the Euro.
The Fund is suitable for investors with a certain contrary mentality, who invest a reviled industry given the various housing bubbles that have happened in the markets in recent years. However, opportunities arise from the fact that the housing bubble was not global.
GVC Gaesco foresees a favorable cycle in the coming years, given that not only is there an improvement in the real estate cycle in these countries but also that some of these companies are trading at large fundamental discounts in line with the high risk premium of Equity markets.
It is suitable for all types of investors, those who invest in Equities, in real estate or are rent holders.
It has daily liquidity, by investing in listed companies rather than real estate.
There is no penalty for entry or exit.
The Fund allows investors to get a regular annual income of 4%.
Benchmark: STOXX Global 1800 Real State Eur Index, composite index of 600 large cap companies in the real estate sector in Europe, America and Asia Pacific.
|Risk Profile||Very High|
|Managing Company||GVC Gaesco Gestión SGIICs, SA|
|Custodian||BNP Paribas Securities Services|
|Benchmark Index||STOXX Global 1800 Real State Eur Index|