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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Invesco Pty | IPI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.225 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.225 | 0.225 |
| Top Posts |
|---|
Posted at 21/2/2012 07:06 by goldenhorse investor_tpKind of... it's in there in the 'big fees haircut that always accompanies these situations' but you're right - the responsible investor would run a few scenarios to see how the it might come out - I might have a go at the weekend! Best GH |
Posted at 13/2/2012 10:15 by flyingswan ... So heavily affected was one trust Invesco Property Income that in 2011, the trust, managed by Rory Morrison, restructured its debt and altered its investment strategy. The trust is now expected to wind down in 2014.The investment objective was changed to reflect the fact that the trust was widening its portfolio to continental Europe, with a particular focus on acquiring and managing assets in markets such as France and Germany, where properties can be bought and sold with relative ease. All is not bad, however. Last week, for example, saw the £1bn F&C Commercial Property Trust (FCPT) successfully raise £15m in an issue of new shares. The trust listed them on the London Stock Exchange on February 1 at 103.41p - a 3 per cent premium to net asset value (NAV). The fund has traded at a premium over the past year. The company claims its level of dividend, which created a yield of 5.8 per cent based on the share price at the close on February 1, is attractive to investors. In fact, since the market bottomed in March 2009, property investment trusts have staged a remarkable comeback... |
Posted at 09/2/2012 11:40 by flyingswan I think this may be the reason for the drop. But it is the time of year were people rarely move. I think in the coming months we will see more positive interest in Commercial Property. I am treating this as a Buying Opportunity:UK commercial property performance weakens Tuesday, 07 February 2012 09:39 George Bailey Despite a solid finish to 2011, UK commercial property performance weakened slightly in January, with total returns of 0.3%, down from 0.5% in December, according to CBRE's latest Monthly Index. While Central London witnessed a values fall of 0.1% in January, Retail Warehouses bucked the wider trend as values remained flat (total returns of 0.4%). January also saw office values fall by 0.2% in line with both the industrial and retail sectors. Amid a weakening occupier market, All Property rental values fell by 0.1% in January. Industrials were the worst affected, with rental values falling 0.3%, while All Retail and All Offices saw rental values fall 0.1% last month. Nick Parker, Senior Analyst of Economics & Forecasting at CBRE, said: "There was some encouraging transactional activity that took place in December, amounting to c£5.5billion of commercial real estate investment in the final month, taking the 2011 total just shy of £34billion. December's glut was predominantly thanks to overseas investors filling their boots with UK property, in a market where buyers currently hold the cards. Over the next 12 months we foresee international investors group remaining a key component of the UK property investment, as they have increasingly become over the past 10 years. "This month's overall property performance isn't surprising; sentiment has been weakening in line with the global economic slowdown since the middle of last year, and while it is a weak start to 2012, performance this year will be largely dictated by how events unfold in the euro zone." January 2012 UK Monthly Index snapshot: * All Property total returns were 0.3% in January, with capital values down 0.2%; * Offices and industrials saw a mild outperformance over retails this month, with total returns of 0.3% vs 0.2% in retail; * Central London offices saw values fall by 0.1% in January; * Rest of UK and Outer London / M25 offices continued to see weak performance, with values down by 0.4% in both markets this month; * Retail warehouse marginally outperformed shops with values flat compared with down 0.1%. Shopping centres saw values fall 0.5% this month; * Rental values fell by 0.1% over the month, a slight deterioration on last month; * Equivalent yields were unchanged over the month at 6.6%. |
Posted at 08/11/2011 10:02 by flyingswan UK commercial property sector affected by slow economic performanceMONDAY, 07 NOVEMBER 2011 Slow economic performance in the UK has been passed on to values in the commercial property sector through declining occupier demand, according to the latest IPD UK Quarterly Property Index. At the all property level capital growth slowed to just 0.3% and total return to 1.8%, the index shows, due to the stagnating economy, increasing inflation, austerity measures and general uncertainty about the UK's ability to avoid recession. These factors have combined to result in rental growth tailing off in the third quarter to just 0.1%, while straying further into negative territory for both the retail and industrial sectors, both at -0.2% However, investors are still coming into the market, viewing it as a 'relatively' safe haven during very uncertain times, said Malcolm Frodsham, research director at IPD. 'Purchase activity increased in the third quarter by 14.6%, despite fears that too much stock was becoming available, particularly in Central London. Buyers are not just high net worth individuals and international investors, various UK funds have also been investing, chasing the now all important income return,' he explained... |
Posted at 16/8/2011 14:21 by carterit And to back up what it says in the "latest news",i have received a reply back from a query i raised with them 2 weeks ago....My query was "I have been an investor in the Invesco Property Income Trust since 2009,and having read the the Annual Financial Report just released,would like to ask if the intention is for the trust to be wound down by Sept 2014 (the date by which the borrowings have to be repaid in full,assuming the "new" agreement is accepted),or whether the intention is to try and continue after this date if new/additional borrowings can be secured either from the the existing source or elsewhere" and their response is....... Thank you for your email on 3rd August 2011 about the Invesco Property Income Trust. I've spoken to our Investment Trust team and they've given the following reply to your enquiry. At this stage it is the intention of the Company and the lending bank to ensure that the loan in place is fully paid down this, on shareholder approval, will be the essence of its investment objective. Depending on market conditions and the values properties are realised at, will determine the amount returned to shareholders post liquidation of the portfolio. At this stage the Company is concentrating on repaying the bank debt with no intention at this stage to extend the life beyond this event. |
Posted at 19/7/2011 12:20 by flyingswan ..."This year's survey shows that European institutional investors are again embracing alternatives with a total allocation of 11.5% of respondents' portfolios invested in the sector. The allocation level is back up to and beyond the levels of 2007, when 10% was allocated to the sector. As in the previous two years, real estate forms the lion's share of this allocation, with 7% of investor's total assets in this category, compared with 6.6% in 2009."Real estate investing is now most popular with investors from Benelux, who have pushed Swiss investors into second place, followed by Great Britain and Ireland. Invesco reports smaller investors are also demonstrating increased confidence in real estate. "26% of investors are poised to raise their real estate allocations, with only 7% planning to reduce this component in their multi-asset portfolios. Indeed, real estate is now at its highest level for the past three years and remains the cornerstone of alternatives investing," says Redman. The survey also shows that domestic real estate investment now makes up 63% of the average institution's overall property allocation, compared to just 18% in equities portfolios. |
Posted at 20/6/2011 09:15 by flyingswan Private investors have been piling into the stock market despite the volatility caused by worries of a debt crisis in eurozone countries. Poor returns on savings due to record low interest rates helped push retail shareholdings to £237bn in May, the highest since before the credit crunch, according to a study by Capita Registrars, the Daily Express reports. |
Posted at 12/5/2011 15:47 by knowing Investment trusts: why investors should consider property |
Posted at 12/5/2011 15:46 by knowing May 12, 2011 11:16 AM GMTCommercial real estate in Germany is successfully luring real estate investors back to the market. Property consultancy Savills revealed that EUR 5.53 billion of commercial property changed hands in Germany in the first three months of 2011. |
Posted at 07/8/2009 16:42 by flyingswan Is commercial property an investment winner?By Rob Griffin Last Update: 15:49 The value of commercial property has plummeted, but is the time approaching to stake out the ground ready for when demand and prices begin to recover? Rob Griffin investigates whether commercial property is an investment winner. ...But is this an over-reaction? What is the truth about commercial property? Is it a great diversifier that can provide excellent returns over the longer term or a busted flush? Can investors still make money or did the last chance vanish when the recession arrived? Before making any judgments, it's important to understand how the sector works. The first point is that it has nothing to do with residential property or house prices. Commercial property, of which there is estimated to be about £762 billion worth in the UK, is primarily made up of three sectors accounting for 80% of the market shops, offices and industrial. In addition, there are several smaller areas such as leisure parks, restaurants, pubs and hotels. In its simplest form, commercial property investment can be divided into two distinct parts: direct property and shares held in property-related companies. While both are influenced by broadly similar economic factors unemployment, interest rates, consumer confidence, and the general demand for space there are major differences between them. The returns on direct property investments are made up of rental yields and the (hopefully) increasing value of individual buildings. Returns on many property investment funds, however, are far more closely aligned to movements in equity markets. Investors can get access directly and indirectly in a number of ways. For those with large sums of money, it is possible to buy actual buildings, such as shops and factories, which can then be rented out to businesses. Becoming a landlord in this way means having to manage the building, find suitable tenants, negotiate lease terms, review rents and undertake any refurbishments or repairs that are required over time. In exchange, investors receive the rental income. However, for the vast majority of investors this simply isn't feasible as they don't have the money, time or expertise. Most private investors therefore gain exposure to commercial property by buying unit trusts or shares in quoted property companies. This provides access to a range of property and professional management skills, and involves considerably less risk than being a landlord. "The easiest way to access commercial property is through a collective fund such as a unit trust," agrees Geoff Penrice, an adviser at Bates Investment Services. "Investors can benefit from investing in a diversified property portfolio, and can invest relatively small amounts." However, as Andy Gadd points out, people need to know what they're buying. "It's important to ascertain whether the fund invests directly in property or in the shares of property companies, because not all invest in bricks and mortar," he says. Indeed, no two property funds are exactly the same even if they both appear in the recently launched IMA property sector. Some concentrate on actual buildings; some are focused purely on equities; while others are hybrids. This will obviously affect managers' views. For example, Andrew Jackson, manager of Standard Life's hybrid Select Property fund, has been reducing exposure to bricks and mortar since the end of last year because he is convinced that listed investments will provide better returns. "I expect listed property companies to outperform direct property over the coming year, so I have had to recycle my money to maintain the fund's performance," he explains. "Listed markets also tend to recover six to nine months ahead of direct property values." At the end of the day, investors' decisions on whether and how to invest should be based on their long-term goals and view of current valuations, maintains Darius McDermott, managing director of Chelsea Financial Services. "Commercial property is a lot cheaper than it was a few years ago, but we could well see it continuing to fall for the next 12 months," he says. "Investors need to be willing to accept that kind of volatility." The questions facing those who like the idea of commercial property seem straightforward: Where do we go from here? Has the market bottomed out? Are valuations likely to recover strongly from here? Which area looks the most attractive? But, unsurprisingly, opinions vary enormously. Anthony Bolton, the legendary stockpicker who successfully ran the Fidelity Special Situations fund for the best part of three decades, called the bottom of the commercial property market at the end of last year. His optimism was based on the fact that the availability of yields more than 4% above the Bank of England base rate compensated amply for the risk that some tenants might go bust. Others are not quite so optimistic. Guy Morrell, head of Multimanager, UK for HSBC Global Asset Management, does not believe the direct market has yet reached a floor. Nor does he necessarily expect a strong recovery in the short term. However, he recently bought the Threadneedle UK Property Trust to hold in the HSBC Open Global Property fund the first time since launch that this portfolio has had any exposure to a UK direct property fund. Morrell cites the experienced and highly rated team, and its high cash weighting that can be deployed effectively to take advantage of current market weaknesses. "It should result in superior performance, relative to other UK direct property funds," he adds. The fact is that it's impossible to time the absolute bottom of the market, points out Penrice. The horrendous falls of the recent past are no guarantee against further bad times to come. "Commercial property values have fallen more than 40% over the past two years, so they are now more attractive," he says. "Unfortunately, prices are still falling and the overall drop could be 50% before prices stabilise." The outlook certainly isn't very positive, according to the most recent consensus forecast drawn up by The Investment Property Forum, which reveals that the projected total All Property return for 2009 has fallen to a dismal -15.1%. "This is driven by reductions in both capital and rental growth figures for the year," states the report. "The positive total return forecasts for 2010 have fallen again, with shopping centres the most significantly revised sector." Elsewhere, the amount of floor space available for occupation rose at the fastest pace for a decade during the first quarter of this year, while occupier demand fell, according to a survey by the Royal Institution of Chartered Surveyors. "The ongoing contraction in the economy alongside rising levels of available space continues to reduce surveyor expectations towards achievable rents," it says. "Rental expectations were most gloomy in the office market." However, George Shaw, manager of the Ignis UK Property fund, suggests that the sector may come to the fore again if inflationary pressures emerge particularly as a result of the Bank of England's policy of stimulating the economy. "It's generally acknowledged that quantitative easing is likely to trigger inflation over the medium term," he says. "That means tangible assets will be particularly important going forward, and income will be the key component of returns." Portfolios with a high, stable and secure income stream are therefore likely to outperform over the next two to three years and that is a benefit that commercial property as an asset class can offer, he adds. So what is the conclusion? In essence, the fortunes of the commercial property sector are dependent on an economic recovery, says Andy Gadd. Prices may have fallen heavily and the balance sheets of many companies are still undergoing repair. That said, if an investor has chosen commercial property for the long term, then what happens over shorter timeframes is not so important, he argues. Equally, for those buying into funds, the recent valuation falls can present good opportunities... |
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