Aviva Investors UK Funds Property Trust (CLOSED) Class 2 Acc
Report And Accounts
Simplified Prospectus / KIID
Performance
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Top 10 Holdings
| Stock | % Weight |
|---|---|
| 20 Soho Square, London W1 (office) | 10.00 |
| Ealing Cross, Ealing (office) | 9.00 |
| Lombardy Retail Park, Hayes (retail warehouse) | 8.00 |
| Guildhall Shopping Centre, Exeter (shopping centre) | 7.00 |
| Forum St Pauls, London (office) | 6.00 |
| Colmore Gate, 2 Colmore Row, Birmingham (office) | 5.00 |
| The Corn Exchange, Manchester (shopping centre) | 4.00 |
| Broadway Plaza, Birmingham (leisure) | 3.00 |
| Prologis Park, Croydon (industrial) | 2.00 |
| 1-5 Spurriergate & 1-3 High Ousegate, York (retail) | 1.00 |
| Top ten holdings are 60.0% of the total assets | 0.00 |
| Total | 55.00 |
Fund Aims
The investment objective of the Scheme is to obtain optimum returns compatible with security via income and capital appreciation primarily through investment in certain kinds of real property, property related securities, government and other public securities and units in collective investment schemes. Please see the funds Key Investor Information Document for further details on what it will be primarily invest in to achieve this objective.
Fund Manager
Andrew is a fund manager within the Retail Funds Team where he is lead fund manager for the Aviva Investors UK Property Fund.
Prior to assuming his current role in December 2016, Andrew managed Aviva Investors real estate funds across the UK and Europe for over 9 years. Before joining Aviva Investors Andrew spent five years at Curzon Global Partners as an associate director working across acquisitions, asset management and investment strategy. Andrew started his career at Donaldsons as a graduate surveyor in the valuation department.
Andrew holds a post-graduate diploma in Law from Nottingham Trent University, an MPhil in Real Estate Finance from the University of Cambridge, and an MA in Geography from the University of Oxford.
He holds the Investment Management Certificate and is a member of the Royal Institution of Chartered Surveyors.
Fund Overview
| Bid (21/08/2017) | 121.18p |
| Offer (21/08/2017) | 121.79p |
| Historic yield | 0.00% |
| Fund size (31/10/2017) | £1019.03m |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.75% |
| Launch date | 10/12/2012 |
Asset Allocation
| Property | 82.10% | |
| Cash and Equivalents | 16.40% | |
| Other Assets | 1.50% |
Commentary
There are signs the economic slowdown we have anticipated is beginning to take hold. But the risks do not appear to be fully reflected in valuations; direct real estate still looks overpriced relative to both the listed sector and units in unlisted property funds, which adjusted to the weaker outlook 12 months ago. It is possible that liquid markets are understating the importance of real estate’s relative pricing; property still offers attractive risk-adjusted returns compared with other asset classes. The real estate yield spread over bonds remains particularly healthy and demand from income seeking investors is robust. A disconnect between pricing and fundamentals is particularly evident in central London’s office market. A wave of new development is coming to completion just as occupier demand begins to falter and Brexit threatens to compromise financial services firms’ access to the single market. Regional office assets appear less sensitive to the fallout from Brexit and a dearth of supply in many markets is supportive of rental growth. Lower consumer spending is likely to accelerate the ongoing polarisation in the retail sector. Weaker parts of the market look particularly challenged. High-quality assets in ‘destination’ locations should prove much more resilient. In the industrial sector structural changes underway are favourable. The rise of e-commerce is fostering demand for warehouses, logistics hubs, and ‘last-mile’ delivery depots.
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Asset Allocation
| Property | 82.10% | |
| Cash and Equivalents | 16.40% | |
| Other Assets | 1.50% |
Regional Allocation
| UK | 82.10% | |
| Cash and Equivalents | 16.40% | |
| Non-Classified | 1.50% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| UK | 82.10% | - | |
United Kingdom
|
- | 100.00% | |
| Cash and Equivalents | 16.40% | - | |
| Non-Classified | 1.50% | - | |
Property Regions
| London | 27.20% | |
| South East | 18.00% | |
| Cash and Equivalents | 16.40% | |
| North & Scotland | 15.90% | |
| Midlands & Wales | 11.50% | |
| East & South West | 9.50% | |
| Other | 1.50% |
Property Sector
| Direct Property | 82.10% | |
| Cash and Equivalents | 16.40% | |
| Other | 1.50% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | 20 Soho Square, London W1 (office) | 10.00% | - | - |
| 2 | Ealing Cross, Ealing (office) | 9.00% | - | - |
| 3 | Lombardy Retail Park, Hayes (retail warehouse) | 8.00% | - | - |
| 4 | Guildhall Shopping Centre, Exeter (shopping centre) | 7.00% | - | - |
| 5 | Forum St Pauls, London (office) | 6.00% | - | - |
| 6 | Colmore Gate, 2 Colmore Row, Birmingham (office) | 5.00% | - | - |
| 7 | The Corn Exchange, Manchester (shopping centre) | 4.00% | - | - |
| 8 | Broadway Plaza, Birmingham (leisure) | 3.00% | - | - |
| 9 | Prologis Park, Croydon (industrial) | 2.00% | - | - |
| 10 | 1-5 Spurriergate & 1-3 High Ousegate, York (retail) | 1.00% | - | - |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B7RBQK6 |
| Mex Code | NUAAFB |
| Isin Code | GB00B7RBQK62 |
| Citi Code | I0XO |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.75% |
Aims and Benchmark
| Aims | The investment objective of the Scheme is to obtain optimum returns compatible with security via income and capital appreciation primarily through investment in certain kinds of real property, property related securities, government and other public securities and units in collective investment schemes. Please see the funds Key Investor Information Document for further details on what it will be primarily invest in to achieve this objective. |
| Benchmark | No benchmark applicable |
| Benchmark Category | - |
| IA Sector | Property |
Fund Background
| Valuation frequency | Daily |
| Valuation point | 12:00 |
| Fund type | Unit Trust |
| Launch price | £0.76 |
| Fund currency | Pound Sterling |
| Fund domicile | United Kingdom |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Biannually |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 December | 31 January |
| 01 June | 31 July |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | Citibank |
| Fund Administrator | IFDS |
| Fund Registrar | IFDS |
| Fund Custodian | Citibank |
Group Details
| Group name | Aviva Investors UK Fund Services Limited |
| Group address | St Helen's 1 Undershaft London EC3P 3DQ |
| Group telephone | 0800 015 4773 |
| Dealing telephone | 0800 587 4563 |
| fund&salessupport@avivainvestors.com | |
| Homepage | www.avivainvestors.co.uk |
| Fax number | - |
Dealing
| Minimum Investment | £500000 |
| Minimum Top Up | £25000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 4 days |
| Settlement Period: Sell | 4 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | 2.92 |
| Beta | -0.09 |
| Sharpe | 0.00 |
| Standard Deviation | 3.81 |
| Info Ratio | -0.73 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | Yes |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | Yes |
| Exchange Rate | No |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | No |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | Yes |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Sector Specific
The fund invests in specific sectors. Funds which invest in specific sectors may carry more risk than those spread across a number of different sectors. They may assume higher risk, as markets/sectors can be more volatile. In particular, gold, technology funds and other focused funds can suffer as the underlying stocks can be more volatile and less liquid.
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Property
The fund invests in Property funds, property shares or direct property. In particular the following risks will apply:- The property market is illiquid and this can, in exceptional circumstances, lead to times in which clients are unable to dispose of part or all of their holding. Property valuations are made by independent agents but are ultimately subjective and a matter of judgement. Property transaction costs are high (typically around 7% due to legal costs, valuations and stamp duty)
Liquidity
This fund can suffer from partial or total illiquidity, which may lead to considerable price fluctuations and the inability to redeem your investment.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. Please remember that past performance is not a reliable indicator of future performance. The figures shown are intended only to demonstrate performance history of the fund and take no account of product charges. Fund Performance is based upon the movement of the daily price and is shown as total return in GBP with net income reinvested. The value of your client's investment may go down as well as up and the fund value may be less than the payments your client has made. Please also note that our charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. You should refer to your client's policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this report or make any warranties regarding results from its usage.
"Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.