Mon, Apr 23, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Cube's real estate hedge fund keeps exposure to Singapore low, expects returns from Hong Kong and Australia (2)

Wednesday, March 17, 2010

Benedicte Gravrand, Opalesque London:

This is the second part of the article. To view Part One (Cube Capital: Tokyo real estate prospects will remain positive even if Japan's long-term prospects are not) which was published yesterday: Source.

REITs REITs are a big part of CARE's Japan portfolio; indeed it is cheaper to buy equity of listed REITs selling these assets rather than actually buying the physical assets. Also, one can get more debt imbedded in REITs (it is not so easy to borrow from Japanese banks) and these products are highly regulated.

A real estate investment trust (REIT) is a real estate company that offers common shares to the public, with two unique features: its primary business is managing groups of income-producing properties and it must distribute most of its profits as dividends.

The players in the Asian REITs market include foreigners (50%), who are mainly short-term, according to Nick Linnane, co-manager of Cube Capital's Asia Real Estate Securities Fund (CARE). Other players are mutual funds (foreign and Japanese) from which there has been a substantial inflow since last year; Japanese regional banks and individual investors.

"REITs' market capitalisation is $30bn in Japan (with 41 REITS, some in the process of consolidating)," L......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its