Tue, May 31, 2016
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 - Scientist turned hedge fund founder cuts profitable Aussie short, Pelargos joins hedge funds’ bet on turnaround at Honda, Managers set to cash in on infrastructure debt upswing[more]

    Scientist turned hedge fund founder cuts profitable Aussie short From Bloomberg.com: AE Capital, a hedge fund run by a former atmospheric scientist, trimmed bets against the Australian dollar as it gauges shifts in the world’s two biggest economies. The Australian, Canadian and New Zeala

  2. He's lost £200m in a year - so has Britain's star hedge fund boss Crispin Odey lost his golden touch?[more]

    From Thisismoney.co.uk: ...Odey’s laid-back attitude gave no indication of the turmoil his flagship fund had put investors through. It had tumbled 20 per cent in May – a terrible performance given most of his rivals were in positive territory for the year. Odey’s fund had got into trouble after taki

  3. Comment - If you’re such a great investor, where’s your alpha?[more]

    From Mineweb.com: … They are few and far between. You likely know their names. There is a short list of those who have 1) outperformed; 2) over long periods of time, and; 3) manage substantial sums of money. It’s impressive if you are on that list, but discouraging if you seek to invest institutiona

  4. European fund managers 'dressing up’ track record to gloss on performance[more]

    Komfie Manalo, Opalesque Asia: A new study by global analytics firm Cerulli Associates has found that the problem of 'dressing up' track records by fund managers is getting worse. In its latest issue of The Cerulli Edge - Europe Edition,

  5. Why the equity short bias hedge fund underperformed in April[more]

    From Marketrealist.com: The Barclay Equity Short Bias Hedge Fund returned -0.83% in April 2016. However, on a year-to-date basis, the fund provided a return of 3.4% through April 30, 2016. The equity short bias strategy works best when the Market is in a downturn. From January 2016 to mid-Febr