Global Properties Security Fund
Despite superior liquidity, niche high growth sectors, and access to public market capital, REITs currently trade at a discount to private real estate values. Today's 10.7% average discount to their average long-term price to net asset value (NAV) is the widest since the global financial crisis (GFC). This is arisen due to fears, late last year, regarding the potential for rising interest rates and declining earnings growth. More recently, bond market yields instead indicate interest rates are likely to remain lower for an extended period, thus underpinning real estate valuations for most sectors. A valuation gap this wide as an opportunity for investors to own REITs at fairly inexpensive relative valuations under current market conditions. There are ample valuation opportunities within the sector and it has not gone unnoticed by REITs and other major institutional real estate investors. REIT mergers and acquisitions and privatization activity has increased recently as these institutions are quick to capitalize on undervalued real estate in the public market.
The capability of an asset manager to generate powerful ESG and Social Impact without compromising on performance
In this session, Guy Wagner, Managing Director of BLI - Banque de Luxembourg Investments S.A., and Nicolas Crochet, co-CEO of Funds For Good S.A., will explain how their common collaboration permitted to give birth to a revamp of BLI's flagship fund BL Global Flexible EUR into an ESG and social impact, generating UCITS funds.
Generali Investments SICAV SRI Ageing Population: Transforming a major trend into an investment opportunity
By 2045, the world's population aged 60 and above is expected to more than double, reaching almost 2 billion people. The ageing of the population constitutes a major challenge for our societies and economies.
GIS SRI Ageing Population aims to benefit from this long term demographic shift trend by investing in European companies with their business models exposed to this theme, a theme which is expected to grow faster than that of the overall economy over the coming years.
Investment approach: 3-step process.
1 - Proprietary SRI analysis: selecting companies with an ESG rating above their respective sector's average.
2 - Thematic screening: identifying a company's exposure to 3 key investment pillars: Healthcare, Pensions & Savings, and Consumers.
3 - Financial analysis & valuation: to identify and select best-in-class business models, with sustainable growth prospects and an ability to generate cash.