Legg Mason Martin Currie Property Securities A aims to earn a return before fees and taxes of 1.5% p.a. above the S&P/ASX 300 A-REIT Accumulation Index (‘Benchmark’) over rolling three year periods. The Trust invests in a diversified portfolio of listed Australian property or related securities trading below intrinsic values Focused on replacement cost rents and securities with sustainable cash flows Dedicated local team with deep knowledge of A-REIT markets enables research insights to be captured and implemented quickly and consistently.
The Fund was down 7.07% in September, in comparison the benchmark was down 8.66%. At the stock level, overweight positions in Ingenia Communities Group, Yuexiu Transport Infrastructure, Digital Core and Aspen Group were among the largest contributors to relative outperformance in September. While underweight positions in Mirvac Group and Charter Hall Group were also additive from a relative performance perspective. On the other side, this was offset by underweight positions in Dexus Property Group, GPT Group, and Charter Hall, as well as an overweight positions in GDI Property Group, Scentre Group and Abacas Storage King.
In terms of sub-sector weights relative to the benchmark, the Fund retains a relative overweight to Retail REITS and Data Centre REITs and underweight to Diversified, Office and Industrial REITs.
What is Legg Mason Martin Currie Property Secs A Legg Mason Martin Currie Property Secs A 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 Legg Mason Martin Currie Property Secs A has Assets Under Management of 92.92 M with a management fee of 0.64%, a performance fee of 0.00% and a buy/sell spread fee of 0.25%.
How has the investment product performed recently?
The recent investment performance of the investment product shows that the Legg Mason Martin Currie Property Secs A has returned 5.98% in the last month. The previous three years have returned 7.56% annualised and 18.13% each year since inception, which is when the Legg Mason Martin Currie Property Secs A 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 Legg Mason Martin Currie Property Secs A first started, the Sharpe ratio is NA with an annualised volatility of 18.13%. The maximum drawdown of the investment product in the last 12 months is -6.47% and -75.57% 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 Legg Mason Martin Currie Property Secs A has a 12-month excess return when compared to the Property - Australian Listed Property Index of -1.47% and -0.62% 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. Legg Mason Martin Currie Property Secs A 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 Legg Mason Martin Currie Property Secs A provide?
Legg Mason Martin Currie Property Secs A has a correlation coefficient of 0.98 and a beta of 0.96 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 Legg Mason Martin Currie Property Secs A and its peer investments, you can click here for the Peer Investment Report.
How do I compare the Legg Mason Martin Currie Property Secs A with the ASX Index 200 A-REIT Index?
For a full quantitative report on Legg Mason Martin Currie Property Secs A compared to the ASX Index 200 A-REIT Index, you can click here.
Can I sort and compare the Legg Mason Martin Currie Property Secs A to do my own analysis?
To sort and compare the Legg Mason Martin Currie Property Secs A financial metrics, please refer to the table above.
Has the Legg Mason Martin Currie Property Secs A 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 Legg Mason Martin Currie Property Secs A?
How do I get in contact with the Legg Mason Martin Currie Property Secs A?
Comments from SMSF Mates
SMSF Mate does not receive commissions or kickbacks from the Legg Mason Martin Currie Property Secs A. All data and commentary for this fund is provided free of charge for our readers general information.
Performance Commentary - June 30, 2023 The Fund fell 0.63% in June, in comparison the benchmark was down 0.09%. At the stock level, overweight positions in Digital Core, Abacus Property and Yuexiu Transport Infrastructure were among the largest contributors to relative outperformance in June. Underweight positions in Charter Hall Group and Dexus Property Group were also additive from a relative performance perspective.
On the other side, this was more than offset by underweight positions in Goodman Group and GPT Group, as well as an over-weight positions in Region Group, Ingenia Communities Group and Aspen Group. In terms of sub-sector weights relative to the benchmark, the Fund retains a relative overweight to Retail REITS and Data Centre REITs and underweight to Diversified, Office and Industrial REITs.
Performance Commentary - March 31, 2023 The Fund fell 6.05% in March, in comparison the benchmark was down 6.84%. At the stock level, overweight positions in Stock-land, Aspen Group and Ingenia Communities Group were among the largest contributors to relative outperformance in March. Underweight positions in Charter Hall Group and Dexus Property Group were also additive from a relative performance perspective. On the other side, this was offset by underweight positions in Goodman Group and BWP Trust, as well as an overweight positions in Digital Core REIT Management, and Centuria Capital Group. In terms of sub-sector weights relative to the benchmark, the Fund retains a relative overweight to Retail and Data Centre REITs, and underweight to Diversified, Office and Industrial REITs.
Performance Commentary - December 31, 2022 The listed real estate market was down 4.0% in December (as measured by the S&P/ASX 300 A-REIT Accumulation Index). In comparison, the Australian equity market fell 3.2% in December (as measured by the S&P/ASX 200 Accumulation Index). At the A-REIT subsector level, residential were the strongest REITs, while industrial and diversified were the weakest in December.
The Fund fell 2.21% in December, in comparison the benchmark was down 4.04%. At the stock level, overweight positions in Aspen Group, Yuexiu Transport Infrastructure and Ingenia Communities Group were among the largest contributors to relative outperformance in December. Underweight positions in Charter Hall Group and Goodman Group were also additive from a relative performance perspective.
On the other side, this was offset by underweight positions in Dexus Property Group and Charter Hall Long Wale REIT, as well as an overweight position in Digital Core REIT Management. In terms of sub-sector weights relative to the benchmark, the Fund retains a relative overweight to residential REITs, Retail REITS and Hotels & Healthcare REITS and an underweight to commercial Real Estate and Industrial REITs.
Performance Commentary - September 30, 2022 The Fund fell 13.2% in September, in comparison the benchmark was down 13.6%. At the stock level, overweight posi-tions in Aspen Group, Abacus Property group and Digital Core REIT Management were largest contributors to relative outperformance in September. On the other side, this was offset by underweight positions in GPT Group and Mirvac Group which were the largest detractors from relative performance in September.
Over the September quarter, the Fund fell 7.10%, while in comparison the benchmark fell 6.88% over the quarter. At the stock level, overweight positions in Aspen group and Centre Group were positive contributors to performance over the September quarter, while underweight positions in Dexus Property Group and Arena REIT were also accretive to performance. On the other side, underweight positions in Charter Hall Group and Mirvac Group were detractors from relative performance over the September quarter.
While overweight positions in Yuexiu Transport Infrastructure and GDI Property Group also detracted from relative performance over the quarter. In terms of sub-sector weights relative to the benchmark, the Fund retains a relative overweight to residential REITs, Retail REITS and Hotels & Healthcare REITS and an underweight to commercial Real Estate and Industrial REITs.
Performance Commentary - June 30, 2022 The Fund fell 9.58% in June outperforming the benchmark slightly which fell 10.39%. At the stock level, an overweight position in Yuexiu Transport and an underweight position in Charter Hall group were largest contributors to relative outperformance in June. On the other side, this was offset by an underweight position in Vicinity Centres and an over- weight position in Digital Core REIT management which were the largest detractors from relative performance in June.
Over the June quarter, the Fund fell 1.62%, while in comparison the benchmark fell 17.49%. At the stock level, an un- derweight position in Charter Hall Group and an overweight position in Yuexiu Transport were positive contributors to performance over the June Quarter, while overweight positions in Sunland Group and Aspen Group were also accre- tive to performance. On the other side, an overweight position in Centuria Capital Group and underweight positions in Vicinity Centres and BWP Trust were detractors from relative performance over the June quarter,.
In terms of sub-sector weights relative to the benchmark, the Fund retains a relative overweight to residential REITs, Retail REITS and Hotels & Healthcare REITS and an underweight to commercial Real Estate and Industrial REITs.
Performance Commentary - November 30, 2021 The Fund fell –1.10% in September, ahead of the benchmark return which fell –1.94%. The Fund continues to exhibit strong returns over one year, returning 32.98%, ahead of the benchmark return of 30.69% over the same period. At the stock level, Yuexiu Transport, Scentre Group and Aspen Group were key contributors through September. On the other side, Lendlease Group, GDI Property Group and not holding GPT Group detracted. Over the quarter, the Fund returned 5.89%, ahead of the benchmark return of 4.80%. Centuria Capital Group, Yuexiu Transport and Scentre Group were among the big winners for the quarter, while Lendlease Group, Stockland and underweight Charter Hall Group were among the largest of the detractors at the stock level.
In terms of sub-sector weights relative to the benchmark, the Fund retains a relative overweight to residential REITs and an underweight to commercial Real Estate.
Performance Commentary - September 30, 2021 The Fund fell –1.10% in September, ahead of the benchmark return which fell –1.94%. The Fund continues to exhibit strong returns over one year, returning 32.98%, ahead of the benchmark return of 30.69% over the same period. At the stock level, Yuexiu Transport, Scentre Group and Aspen Group were key contributors through September. On the other side, Lendlease Group, GDI Property Group and not holding GPT Group detracted. Over the quarter, the Fund returned 5.89%, ahead of the benchmark return of 4.80%. Centuria Capital Group, Yuexiu Transport and Scentre Group were among the big winners for the quarter, while Lendlease Group, Stockland and underweight Charter Hall Group were among the largest of the detractors at the stock level.
Product Snapshot
Product Overview
Performance Review
Peer Comparison
Product Details