Social: Fund time had by all at MSCI awards

MSCI-awards-2016

The importance of transparency in the UK funds market was demonstrated at the MSCI/IPF UK Property Investment Awards this year, in what has been hailed as a compliment to the UK property industry.

The number of management houses to meet the strict MSCI threshold for good governance and transparency tripled from last year’s total, with 16 firms earning a gong in the data quality category.

The awards recognise the top-performing funds’ unleveraged direct
real estate total returns, by type and size band, measured over three- and 10-year periods.

Pension and life funds, unlisted pooled funds, property investment companies and other professionally managed real estate portfolios across more than 250 UK companies and portfolios are eligible for an award, which are based on independently verified investment performance by MSCI’s real estate portfolio analysis service.

In the headline award, Aviva’s £177.7bn Lime Property Fund took top honours in the category for the highest 10-year risk adjusted absolute return, at 5.9% pa between 2005 and 2015.

The event took place at Berwin Leighton Paisner’s London Bridge office on 23 March.

The winners

THE 10-YEAR RISK ADJUSTED ABSOLUTE RETURN AWARD
(2005-2015)

The Lime Property Fund

Fund manager: Aviva Investors Real Estate

Return: 5.9% (10-year annualised total return)

Total value: £177.7bn

THE 10-YEAR RISK ADJUSTED RELATIVE RETURN AWARD (2005-2015)

The Crown Estate St James’s Fund

Fund manager: The Crown Estate

Return: 9% (10-year annualised relative total return)

Total value: £177.7bn

INSURANCE COMPANY LIFE FUNDS

Scottish Widows

Fund manager: Aberdeen Asset Management

Return: 17.9% (three-year annualised total return)

Total value: £21.3bn

SEGREGATED PENSION FUNDS (ABOVE £100M AND BELOW £500M)

Single client mandate (name withheld)

Fund manager: LaSalle Investment Management

Return: 31.6% (three-year annualised total return)

Total value: £14.4bn

SEGREGATED PENSION FUNDS
(ABOVE £500M)

National Grid UK Pension Scheme

Fund manager: DTZ Investors

Return: 16.6% (three-year annualised total return)

Total value: £27.2bn

BALANCED UNLISTED FUNDS
IN THE PROPERTY FUNDS INDEX

(ABOVE £100M)

Hermes Property Unit Trust

Return: 16.4% (three-year annualised
total return)

Total value: £24.4bn

OTHER BALANCED UNLISTED FUNDS (ABOVE £100M AND BELOW £1BN)

Martin’s Properties Commercial Portfolio

Fund manager: Martin’s Properties (Chelsea)

Return: 19.9% (three-year annualised
total return)

Total value: £11.9bn

OTHER BALANCED UNLISTED FUNDS (ABOVE £1BN)

Zurich Assurance Life Property Fund

Fund manager: Threadneedle Portfolio Services

Return: 17.5% (three-year annualised
total return)

Total value: £41.4bn

SMALL FUNDS (BELOW £100M)

Canada Life Jersey Property Unit Trust

Fund manager: Canada Life Investments

Return: 28% (three-year annualised total return)

Total value: £759m

SPECIALIST FUNDS IN THE PROPERTY FUNDS INDEX (ABOVE £100M)

Standard Life Investment UK Shopping Centre Trust

Fund manager: Standard Life Investments

Return: 12.6% (three-year annualised total return)

Total value: £12.5bn

OTHER SPECIALIST UNLISTED FUNDS (ABOVE £100M)

BlackRock Workspace Property Trust

Fund manager: BlackRock Investment Management (UK)

Return: 34% (three-year annualised
total return)

Total value: £23bn

SPECIALIST LISTED FUNDS

Grainger Invest

Fund manager: Grainger

Return: 18.4% (three-year annualised total return)

Total value: £29.6bn

SMALL SPECIALIST LISTED FUNDS (BELOW £100M)

Industrial Real Estate Unit Trust

Fund manager: Aberdeen Asset Management

Return: 19.6% (three-year annualised total return)

Total value: £863m