TR Property Ord (LSE:TRY)

Investment trust
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Trading AccountISAJISASIPP

Trust Info

  • Market Cap£1.189bn
  • OCF0.93%
  • AIC sectorProperty Securities
  • Manager GroupBMO
  • Currency
  • ISINGB0009064097

Investment Strategy

The Company seeks to achieve its objective by investing in shares and securities of property companies and property related businesses on an international basis, although, with a Pan-European benchmark, the majority of the investments will be located in that geographical area. The Company also invests in investment property located in the UK only.

ii Super 60 selected

This Investment trust is a member of our ii Super 60 rated list

TR Property is an unusual investment trust, because it is the only one listed by the Association of Investment Companies that invests mainly in the shares of property companies rather than physical property. This allows Marcus Phayre-Mudge, its manager since 2011, to adjust the portfolio more readily than if he were investing in direct properties, which can be hard to buy and take time to sell. When analysing potential investments, he and his team assess property assets, balance sheets and long-term records of managements using capital effectively to build asset valuation and earnings expectations for each company.

Phayre-Mudge can invest internationally but most of his holdings are in Europe, including the UK. He can invest in physical property in the UK, though this will generally not account for more than 20% of the portfolio. The trust is managed on a total return basis.

September 2020

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