Lonsec launches global property securities review
Lonsec has rated two global property securities funds as ‘highly recommended’, five as ‘recommended’ and two as ‘investment grade’ in its inaugural review of the sector.
ING Global Properties Securities Fund and RREEF (Deutsche) Global Properties Securities Fund have each received a ‘highly recommended’ rating in the review.
ING and RREEF are two of four reviewed funds that exclude Australia from their investment universe, while the remaining five funds in the review have a fully global universe.
RREEF’s rating in the sector review represents an upgrade from a ‘recommended’ rating the manager received in an independent review by Lonsec in January last year.
The researcher has also previously reviewed five managers (ABN AMRO, AMP, APN, ColonialFirstState and Deutsche) in this sector, these having been conducted independently for lack of a “reasonable universe of funds for peer review”, Morrissey said.
Lonsec has been able to “conduct initial due diligence on the majority” of funds in the sector, he said, despite a “large number of new products having been made available in the space over the past two years”.
Lonsec will look to expand its sector review universe further in 2006-07, adding managers the researcher “believes can excel in this rapidly emerging unlisted fund sector”.
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