Macquarie Professional Series welcomes ratings on EII Global Property Fund
The Macquarie Professional Series said the Recommended rating from Lonsec and Highly Recommended rating from Zenith Investment Partners awarded to the EII Global Property Fund provides further support to the Professional Series’ decision to include EII as one of its specialist fund managers.
According to Macquarie Professional Series, EII was one of only seven institutional fund managers who had met the stringent requirements to be included in the Macquarie Professional Series.
New York based EII had grown its funds under management in global real estate securities to more than $5bn (as at March 2007).
EII was included in the Macquarie Professional Series because global property is now recognised as an important inclusion in a diversified investment portfolio and, as a result of Macquarie’s due diligence, EII was considered one of the best managers in the category.
Lonsec had noted that the fund manager of the EII Global Property Fund had an 18 year track record of real estate securities management in the United States and had managed international real estate securities since the year 2000.
Apparently few other managers that Lonsec has reviewed in the global real estate sector has had experience of this duration.
In keeping with a number of the fund managers in the Macquarie Professional Series, EII adopts a benchmark unaware approach to the management of their investment portfolio.
EII also has a Four Star rating from Standard & Poor’s.
In its report, Zenith called the Fund one of the true gems discovered when EII launched into the Australian market, and noted that the performance of the manager comes into a league of its own when examining the performance of this Fund.
Commending the experience and expertise of the investment team, along with the risk adjusted track record, the Zenith report said it considered the EII Global Property Fund and EII package a best of breed in their field.
The high ratings the Fund received can be attributed to the long-term approach EII has adopted to investing, seeking undervalued companies capable of delivering strong and consistent returns.
The Fund has a concentrated portfolio of 40 to 60 securities from Asia, Europe and the US, with Zenith noting that due to its approach the fund has avoided the bolt-together appearance of some competing portfolios.
For investors who prefer the liquidity and transparency advantages of listed investments, the Fund provides a viable way, through the Macquarie Professional Series, of diversifying their property exposure offshore.
The EII Global Property Fund is available to both institutional and retail investors.
28-Aug-2007