Fairtree Global Listed Real Estate Fund Q2 2026 commentary
The second quarter ended with the Fund up 7.15% in absolute terms, while the index gained 8.52%, resulting in 140bps of relative underperformance. The underperformance was mostly driven by the first and second bites of the apple, regional and sector allocation, which detracted from performance by 172 bps.
Fairtree Global Listed Real Estate Fund Q1 2026 commentary
The year started off on a good note for property stocks, but turned less favourable as tensions between the US and the Middle East brewed, with the fund underperforming the index by 48bps. In absolute terms, the Fund was up 55bps, while the index was up 103bps.
Fairtree Global Listed Real Estate Fund Q4 2025 commentary
The fourth quarter ended with the Fund underperforming the benchmark by 313bps as it decreased by 386bps, while the benchmark decreased by 73bps. This was entirely driven by the third bite of the apple, stock selection, which decreased performance by 467bps, while the first and second bites of the apple, region and sector allocation, increased performance by 178bps.
Fairtree Global Listed Real Estate Fund Q3 2025 Commentary
The third quarter ended with the fund outperforming the benchmark by 67bps as it rose 474bps while the benchmark rose 407bps.
Fairtree Global Listed Real Estate Fund Q2 2025 Commentary
The second quarter was volatile, given political uncertainties and geopolitical pressures. The Fund rose 3%, while the benchmark gained 4.4%, resulting in marginal underperformance for the period.
Fairtree Global Listed Real Estate Fund Q1 2025 Commentary
The first quarter was turbulent for global equities. The Fund underperformed the benchmark by 65 bps as the benchmark increased by 159 bps, while the Fund increased by 94 bps.
Fairtree Global Listed Real Estate Fund Q4 2024 Commentary
The fourth quarter was challenging for real estate stocks as the rate cuts that were priced in for 2024 and 2025 were reduced, making forecasts less favourable and debt more expensive.
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