Consilia Capital: Real Assets Fund Monitor Nov-2017

This month’s report is divided into the following sections:

  • A summary of November performance by fund mandate and size
  • A summary of YTD 2017 performance by fund mandate and size 
  • Focus: Sustainable Real Estate Indices

As part of the redesign of our Fund classifications last month we included Alternative Strategies as a separate group, and also included Indices as well as Funds. The reason for including Indices in this group is that they provide the Alternative Benchmark from which Funds (passive and active) will be launched. In September we looked at two new multi-factor indices (Euronext Reitsmarket Global Balanced and Global Conviction Index), and this month we provide a detailed analysis of a new Sustainable Index, the GPR IPCM LFFS Sustainable GRES Index.

Given the trend towards integrating sustainability factors into multi-asset investment strategies, real estate is an area that has received a lot of attention, due to the high carbon footprint. A huge amount of work has been done by GRESB which is recognised as the global ESG benchmark for real assets, and EPRA, with their initiatives such as the Sustainability Best Practice Recommendations, and awards. As ESG factors are likely to increase rather than decrease in importance we are particularly keen to highlight new Funds and Indices in this area, focussing in particular on the investment rationale, screening criteria, key sustainability factors, and information sources.

  • Detailed performance statistics by mandate for November 2017

This month we look at the data for November 2017. For each mandate we show: the dispersion of returns by Fund AUM, aggregate performance by size, active vs passive performance, Benchmark Index returns, and the best performing active funds above an AuM threshold for each mandate. For consistency, all returns are rebased in US$.

Finally, it is important to note that there are no recommendations or investment advice contained in this publication, and that it is not intended for retail investors. This report represents only a very small summary of the outputs of our database, and the bespoke research and advisory service work we undertake for clients. For further details of our work please contact us.