SUMMARY
The AREIT market held ground to finish the month up 0.6%, not withstanding the spike in 10 year bond yields from 1.49% to 2.09%. In comparison the Fund returned 0.1% with key contributors including our overweight positions in Irongate Group (IAP), Charter Hall Social Infrastructure (CQE) and Peet Ltd (PPC). Detractors included Centuria Capital (CNI), Mirvac Group (MGR) and Ingenia Group (INA).