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At a glance
Index
IPD UK Monthly Index
Launch date
Feb 2007
Fund size
£393.1m
Fund currency
GBP
OEICs
Fund Managers
Don Jordison
Chris Morrogh
Download fund sheet >
UK Property Trust
The UK Property Trust is Threadneedle's core property offering for retail investors. It offers clients access to physical commercial property within a daily dealing unit trust. Whilst the fund was launched in October 2007, Threadneedle's property team have been investing since 1994 and have built up an enviable track record specialising in physical commercial property.
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Graph as at 12 noon: 31st March 2012
Overview
- Access to the physical commercial property market within a daily dealing unit trust.
- Direct investment is not possible for most private investors due to the prohibitive nature of market entry.
- The Trust gives access to the market for a minimum of £1,000.
- Holds the physical asset rather than trade in property shares.
- The chance to benefit from our extensive market expertise.
| Co-fund managers | Don Jordison and Chris Morrogh |
| Inception date | February 2007 |
| Fund currency | Sterling |
| Index | IPD UK Monthly Index |
| Sector | UK Property |
| Annual fee | 1.5% |
| Minimum investment | Initial: £1,000 |
| Fund codes | |
| ISIN | GB00B1QGTF68 (inc) GB00B1Q1SR62 (acc) |
| Sedol | B1QGTF6 (inc) B1Q1SR6 (acc) |
| MEDIX | ADUKPI (inc) ADUKPR (acc) |
Five simple investment principles
Our commercial property investment philosophy can be summarised in these five principles:
- Stock picking is key. While we frequently take high conviction views at the sector level, we believe that selecting properties within sectors is a bigger driver of long-term performance. Our experience, resources and contacts allow us to select the most appropriate and attractively valued properties for our funds while avoiding exposure to property shares.
- A preference for high yielding investments. We believe that over the long term, income is the dominant component of property total returns. As such, yield is a key focus of our stock selection process.
- Flexible buyers. We do not populate our portfolios with "trophy assets", as these frequently offer unappealing yields and require heightened rental growth in order to keep pace with the wider market. Instead, we seek good value and investment potential across all sectors, geographies and lot sizes.
- Avoid speculative development. This kind of activity locks up capital for long periods of time and can be risky. We prefer to buy standing investments with the potential to improve returns.
- Active asset management unlocks value. We work hard to maximise the returns from the properties we own, refurbishing and updating buildings regularly in order to increase capital value and improve rental growth potential.
Clearly defined roles
There are several distinct aspects to the successful management of commercial property portfolios and we believe that the most efficient approach is to allocate a team of specialists to each fund. These specialists have clear responsibilities and each one has a vital role to play in maximising portfolio returns:
- Fund manager - each portfolio is allocated a senior manager with many years of market experience, who has ultimate responsibility for all aspects of the fund. The manager sets the investment strategy, sources and oversees purchases and sales and manages fund liquidity - a crucial part of the performance equation given that property can be a relatively illiquid asset.
- Investment surveyor - assisting the fund manager in property research, day-to-day management and the assessment of potential investments is an investment surveyor. This role is typically fulfilled by a fully qualified but more junior property professional. The experience gained in this position makes it a good route into a senior fund management role.
- Asset manager - one of our key beliefs is that significant value can be added by proactive asset management, and this role helps to ensure that returns are maximised from the properties we hold. Individual property strategy, refurbishment, rent reviews and lease renewals are among the tasks undertaken.
- Property manager - this function, which is outsourced, conducts minor building work and building services, obtains licences for alterations and is responsible for agreeing tenant and landlord covenants.
- Don Jordison
Managing Director of Threadneedle Property Investments. Since 1997 he has managed the Allied Dunbar Pension Property Fund.
Don began his career in 1982, at Prudential, then joining Allied Dunbar† as a trainee property manager and obtained Associate Membership of the Royal Institution of Chartered Surveyors. In 1991 he became a Director responsible for the AD Unit Linked Life Property Fund. On the formation of Threadneedle Property Investments in 1994 by merging the property investment activities of Allied Dunbar and Eagle Star, Don joined as a founding director.
Don transferred from the AD Life Property Fund in August 1997 to take over the £1bn AD Pension Property Fund. He left behind a five year record of top quartile performance and outright top fund over 3 years against the Investment Property Databank Monthly Index of 67 performance funds. Don is also the Director responsible for the Threadneedle Property Unit Trust
Don graduated in 1984 with a First Class Honours Degree in Urban Estates Surveying. In 1988 he obtained an MBA from City University London.
†Allied Dunbar Property Funds became part of Threadneedle Property Investments in 1994 - Chris Morrogh
Fund Factsheet
View our UK Property Trust Fund Factsheet. more >
Property Capabilities Brochure
View our Property Capabilities Brochure. more >
Fund Application Form
View our Fund Application Form. more >
ISA Transfer Pack
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ISA Application Form
View our ISA Application Form. more >