abrdn Global Premier Properties Fund Q4 2024 Commentary

2025-03-28 13:00:00 ET

Summary

• The abrdn Global Premier Properties Fund returned -4.55% for the three-month period ending January 31, 2025, underperforming its benchmark, the FTSE EPRA/NAREIT Global Real Estate Net Index.
• Positive contributions from American Healthcare REIT, Welltower, and Sumitomo Realty & Development were offset by underperformance in Iron Mountain, Digital Realty Trust, and Simon Properties.
• The real estate sector was weak due to rising interest rates and inflationary concerns, despite rate cuts by the US Federal Reserve and European Central Bank.
• We remain optimistic about sectors with strong fundamentals like logistics, residential, and retail warehouses, and see opportunities in high-quality central office spaces and data centers.

Fund performance

The Fund returned -4.55% (on a net asset value basis) for the three-month period ending 31 January 2025, underperforming the -3.67% return of its benchmark, the FTSE EPRA/NAREIT Global Real Estate Net Index. However, on a gross-of-fees basis, the Fund outperformed its benchmark. Positive contributions from sector allocation and stock selection were offset by the drag from the Fund’s use of leverage during a period where the real estate sector posted negative total returns. 1...

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