Charter Hall Maxim Property Securities Fund aims to outperform the S&P/ASX 300 A-REIT Accumulation Index by 1.5% p.a. over rolling 3 year periods whilst also aiming to achieve a balance between growth in the value of your Units as well as income from your investment.
The Fund returned -8.3% in September (after fees but before tax basis), outperforming the Fund’s Benchmark (S&P/ASX 300 AREIT Accumulation Index) return of -8.7%. Over the twelve months to September 2023 the Fund has returned +5.7% compared to the Benchmark return of +11.9%. A distribution of 0.3 cents per unit has been declared for the September quarter.
An overweight position in Eureka Group (EGH) added relative value during the month while an overweight in Rural Funds (RFF) detracted relative value. In the past year the Fund benefitted from an average underweight position in Scentre Group (SCG), while an overweight in NPR detracted relative value.
What is Charter Hall Maxim Property Securities Charter Hall Maxim Property Securities is an Managed Funds investment product that is benchmarked against ASX Index 200 A-REIT Index and sits inside the Property - Australian Listed Property Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Charter Hall Maxim Property Securities has Assets Under Management of 173.59 M with a management fee of 0.95%, a performance fee of 0.00% and a buy/sell spread fee of 0.5%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the Charter Hall Maxim Property Securities has returned 6.05% in the last month. The previous three years have returned 5.86% annualised and 18.54% each year since inception, which is when the Charter Hall Maxim Property Securities first started.
How is risk measured in this investment product?
There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since Charter Hall Maxim Property Securities first started, the Sharpe ratio is NA with an annualised volatility of 18.54%. The maximum drawdown of the investment product in the last 12 months is -7.51% and -70.72% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.
What is the relative performance of the investment product?
Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The Charter Hall Maxim Property Securities has a 12-month excess return when compared to the Property - Australian Listed Property Index of -1.28% and 0.09% since inception.
Does the investment product produce Alpha over its Peers?
Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. Charter Hall Maxim Property Securities has produced Alpha over the Property - Australian Listed Property Index of NA% in the last 12 months and NA% since inception.
What are similar investment products?
For a full list of investment products in the Property - Australian Listed Property Index category, you can click here for the Peer Investment Report.
What level of diversification will Charter Hall Maxim Property Securities provide?
Charter Hall Maxim Property Securities has a correlation coefficient of 0.97 and a beta of 0.92 when compared to the Property - Australian Listed Property Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.
How do I compare the investment product with its peers?
For a full quantitative report on Charter Hall Maxim Property Securities and its peer investments, you can click here for the Peer Investment Report.
How do I compare the Charter Hall Maxim Property Securities with the ASX Index 200 A-REIT Index?
For a full quantitative report on Charter Hall Maxim Property Securities compared to the ASX Index 200 A-REIT Index, you can click here.
Can I sort and compare the Charter Hall Maxim Property Securities to do my own analysis?
To sort and compare the Charter Hall Maxim Property Securities financial metrics, please refer to the table above.
Has the Charter Hall Maxim Property Securities been independently verified by SMSF Mate?
This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.
How can I invest in Charter Hall Maxim Property Securities?
How do I get in contact with the Charter Hall Maxim Property Securities?
Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the Charter Hall Maxim Property Securities. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - August 31, 2023 The Fund returned +2.6% in August (after fees but before tax basis), outperforming the Fund’s Benchmark (S&P/ASX 300 AREIT Accumulation Index) return of +2.2%. Over the past three years to August 2023 the Fund has returned +6.9% pa, below the Benchmark return of +7.7% pa.
An overweight position in Rural Funds Group (RFF) added relative value during the month while an overweight in Newmark REIT (NPR) detracted relative value. In the past twelve months the Fund benefitted from an average underweight position in Scentre Group (SCG), while an overweight in NPR detracted relative value.
Performance Commentary - July 31, 2023 The Fund returned +3.1% in July (after fees but before tax basis), underperforming the Fund’s Benchmark (S&P/ASX 300 A-REIT Accumulation Index) return of +3.9%. Over the twelve months to July 2023 the Fund has returned -4.4%, below the Benchmark return of -0.1%.
An overweight position in Lifestyle Communities (LIC) added relative value during the month while an overweight in Eureka Group (EGH) detracted relative value. In the past twelve months the Fund benefitted from an average underweight position in Dexus (DXS), while an underweight in Stockland Group (SG) detracted relative value.
Performance Commentary - June 30, 2023 The Fund returned 0.0% in June (after fees but before tax basis), outperforming the Fund’s Benchmark (S&P/ASX 300 A-REIT Accumulation Index) return of -0.1%. Over the twelve months to June 2023 the Fund has returned +3.3%, below the Benchmark return of +7.5%.
A distribution of 2.8 cents per unit has been declared for the June quarter. This takes the total distribution amount for the twelve months ending 30 June 2023 to 4.0 cents per unit. An underweight position in Scentre Group (SCG) added relative value during the month while an overweight in Aspen (APZ) detracted relative value. During financial year 2023, the Fund benefitted from an average underweight position in Dexus (DXS), while an overweight in Eureka (EGH) detracted relative value.
Performance Commentary - May 31, 2023 The Fund returned -0.4% in May (after fees but before tax basis), outperforming the Fund’s Benchmark (S&P/ASX 300 A-REIT Accumulation Index) return of -1.8%. Over the twelve months to May 2023 the Fund has returned -7.2% compared to the Benchmark return of -3.6%.
An underweight position in Vicinity Centres (VCX) added relative value during the month of May while an overweight in Lifestyle Communities (LIC) detracted relative value. We remain concerned about the impacts of rising rates and inflation on household finances, with an underweight to discretionary spend in mall operators.
Performance Commentary - April 30, 2023 The Fund returned +2.7% in April (after fees but before tax basis), underperforming the Fund’s Benchmark (S&P/ASX 300 A-REIT Accumulation Index) return of +5.2%. Over the twelve months to April 2023 the Fund has returned -15.7% compared to the Benchmark return of -10.2%.
An overweight position in Centuria Capital (CNI) added relative value during the month of April while an underweight in Mirvac (MGR) detracted relative value. We remain concerned about the impacts of rising rates and inflation on household finances, with an underweight to discretionary spend in mall operators.
Performance Commentary - March 31, 2023 The Fund returned -6.8% in March (after fees but before tax basis), in line with the Fund’s Benchmark (S&P/ASX 300 A-REIT Accumulation Index) return of -6.8%. Over the twelve months to March 2023 the Fund has returned -17.5% compared to the Benchmark return of -14.0%.
An overweight position in Eureka Group (EGH) added relative value during the month of March while an underweight in Stockland (SGP) detracted relative value.
Performance Commentary - February 28, 2023 The Fund returned -1.9% in February (after fees but before tax basis), underperforming the Fund’s Benchmark (S&P/ASX 300 A-REIT Accumulation Index) return of -0.4%. Over the twelve months to February 2023 the Fund has returned -9.9% compared to the Benchmark return of -6.4%.
An overweight position in Eureka Group (EGH) added relative value during the month of February while an overweight in Lifestyle Communities (LIC) detracted relative value.
The S&P/ASX 300 Property Accumulation index returned -0.4% in February, outperforming the S&P/ASX 200, which returned – 2.4%. Office A-REITs were the strongest relative sector with a return of +1.9%, while Industrial A-REITs were the weakest at – 0.6%. The best performing stock was National Storage (NSR) at +9.1%, while Rural Funds (RFF) lagged at -13.5%.
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