SUMMARY
The Fund delivered another month of outperformance in June, closing with a +0.52% return compared to the S&P/ASX 300 A-REIT Index of -0.09%. For the 2023 financial year, the Fund delivered strong performance of +9.54% compared to the Index return of +7.49%, generating outperformance of +2.05%.
Pleasingly, many of the top contributors to the Fund’s outperformance over the 2023 financial year were our non-index holdings including Peet Ltd (PPC +40.18%), Lifestyle Communities (LIC +16.21%), Qualitas Ltd (QAL +19.96%) and NextDC Ltd (NXT +19.34%). The key characteristics of these holdings are that they are underpinned by secular trends and less sensitive to the rise in inflation and interest rates.