Quay’s strong performance sees rating upgrade

From
Chris Bedingfield

Chris Bedingfield

The Quay Global Real Estate Fund has been upgraded to a recommended rating from Zenith Investment Partners, recognising the fund’s recent strong performance and business growth.

The Quay Global Real Estate Fund, which was launched in 2014, is the flagship fund of Quay Global Investors, founded by portfolio managers Justin Blaess and Chris Bedingfield as a boutique investment manager focused on global listed real estate securities. In 2015, Quay Global Investors partnered with Bennelong Funds Management.

In its assessment report, Zenith noted: “Zenith views Quay’s approach to listed property investing as differentiated compared to peers, specifically the team’s focus on companies trading at a discount to replacement cost. In Zenith’s opinion, this approach combined with the Fund’s total return focus should provide a defensive exposure to global listed property over the long term.

“Zenith’s conviction is underpinned by Quay’s differentiated investment process, which is intuitively appealing, combined with the team’s strong understanding of real estate markets with in-depth fundamental research.

“Zenith believes that both Bedingfield and Blaess are high calibre global real estate investors.

“Overall Zenith believes the portfolio construction process is robust and results in a portfolio that is reflective of the Fund’s total return and high conviction approach.”

Bennelong’s head of retail investment sales, Jonas Daly, said the rating upgrade reflects the knowledge and experience of Mr Blaess and Mr Bedingfield as well as the calibre of the Quay team.

“Justin, Chris and the team have delivered consistently strong investment outcomes, with Zenith noting the positive funds under management trend reflecting adviser support into the fund.

“This upgraded rating continues the positive momentum Quay has been building for the past few years and will further assist with growing the dealer and adviser base in accessing the fund.

“The fund is performing particularly well and, given it takes a long-term view, that’s likely to improve over time – which is exciting for us and Quay’s investors,” said Mr Daly.

According to the Morningstar® Australian Institutional Sector Survey at 30 June 2019, the Quay Global Real Estate Fund is the top performing global REIT over one, three and five years. The fund has returned 15.6 percent p.a. over the past five years, outperforming the index* by 4.3 percent p.a. after fees and charges (at 31 July 2019). 

In addition to its rating upgrade and strong performance, the fund was recently added to the Colonial Firstwrap platform, further consolidating its position with existing platforms including MLC, ANZ Grow, IOOF, and Wealthtrac. The fund is also rated ‘Recommended’ by Lonsec and ‘Outstanding’ by SQM.

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*FTSE/ EPRA NAREIT Developed Index Net TR AUD

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