OnePath Global Property Securities Index

 

Features

Information

APIR codeMMF1509AU
Minimum suggested Investment time frame5+ years
Growth/defensiveGrowth 100%
FE fundinfo sectorProperty - Global
Income distribution frequencyHalf yearly
Total fees and costs as at 9 February 20220.34% pa
Fund size$25.20m
Inception date15 November 2010

Investment minimums

Please refer to PDS 

Pricing

Price date31/03/2022
Entry$1.1756
Exit$1.1763

Standard risk measure

1 2 3 4 5 6 7
Standard Risk Measure

A Standard Risk Measure score of 5 equates to a Risk Label of 'Medium to High' and an estimated number of negative annual returns over any 20 year period of 3 to less than 4. This is a measure of expected frequency (not magnitude) of capital losses, calculated in accordance with ASFA/FSC guidelines.

Investment objective

The fund seeks to track the return of the FTSE EPRA/NAREIT Developed Rental Ex-Australia Net Index hedged to the Australian dollar (including income and capital appreciation) before taking into account fees, charges and taxes.

Investment strategy

The fund will have exposure to global listed property securities indices (excluding Australia). The weightings relative to the index may vary from the index from time to time. This fund may invest in property securities that have been or are expected to be included in the indices. Derivatives are not utilised to leverage the portfolio.

Investor profile

The Fund is intended to be suitable for investors seeking to track the return of the FTSE EPRA/NAREIT Developed Rental Ex-Australia Net Index hedged to the Australian dollar (including income and capital appreciation).

Research house ratings

Rating

LonsecRecommended

Meet the manager(s)

NameIOOF Investment Team
BiographyOur impressive investment capabilities are driven by our investment team and structure. Each asset class has a dedicated portfolio manager who enjoys strong support from a host of support staff including analysts and investment specialists. Furthermore, the team benefits from the strong support of our additional research capabilities, namely through our asset consultant.
PhotoIOOF Investment Team

Cumulative performance

ResetPerformance line chart
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3 months6 monthsYear to date1 year3 years pa5 years pa
Fund-4.42%6.80%-4.42%17.29%5.13%5.89%
FE Sector-3.32%4.89%-3.32%15.83%5.63%7.13%

Calendar Performance

Performance Bar chart
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31/12/202131/12/202031/12/201931/12/201831/12/2017
Fund31.03%-13.44%22.26%-4.42%5.00%
FE Sector25.82%-9.84%21.72%-1.82%7.71%

Performance is net of management costs and expenses. Performance is based on exit price to exit price for the period and assumes that all distributions are reinvested. Management costs and other expenses are accounted for in the exit price. Past performance is not a reliable indicator of future performance.


The performance data has been sourced by FE fundinfo.


Asset allocation as at 31/03/2022

Breakdown pie chart
International property99.31%
Cash and short-term securities0.69%

Actual versus target asset allocation as at 31/03/2022

Manager diversification within each asset class as at 31/03/2022

Breakdown pie chart

Top holdings - as at 31/03/2022

Name
Weight
Prologis
6.74%
Equinix Inc
3.75%
Public Storage
3.33%
Simon Property Group Inc
2.43%
Welltower Inc
2.37%
Digital Realty Trust Inc
2.25%
Realty Income
2.22%
Vonovia
2.06%
Avalonbay Communities
1.96%
Alexandria Real Estate
1.90%

Market and portfolio review

Global equities posted losses for the period, experiencing a major sell-off before experiencing a partial rebound in March. Developed and developing market stocks came under pressure as concerns grew about aggressive central bank tightening, especially from the Fed, as well as the Russia-Ukraine conflict.

Only a few major stock markets were able to post gains for the quarter, including Canada and the UK. Eurozone, with its dependency on Russia for oil and gas, saw a sharp decline for the period. Emerging markets were also down, and Russia was removed from the MSCI Emerging Markets Index on March 9, at a price that is effectively zero. US equities declined in the first quarter as inflation continued to rise over the period.

Future investment strategy

As the year started, pandemic concerns receded, and policymakers turned their attention to the high levels of inflation in much of the global economy. Economic growth slowed for developed economies as conditions began to normalize with the reduction of policy stimulus, increased labor force participation and the drawdown in household savings. Russia’s invasion of Ukraine exacerbated inflationary pressures by driving up commodity prices. Concurrently, some major developed central banks pivoted to a more hawkish stance in response to inflation.

Our outlook remains centered on the question of inflation and how markets and policymakers may react to it. The RussiaUkraine crisis has exacerbated inflationary pressures and increased the risk of recession, especially for the eurozone economy.

Our base case scenario is that the global economy continues to slow. We believe the Fed will be able to engineer a ‘soft landing’ and avoid a US recession. We anticipate inflation in the US and other developed countries will peak later this year and then start to moderate. We expect China’s economy will re-accelerate in the back half of the year, helped by monetary and fiscal stimulus.

NameOnePath Global Property Securities Index
PDSPDS
TMDTMD
ChartChart

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OneAnswer Frontier Investment Portfolio is issued by OnePath Funds Management Limited ABN 21 003 002 800 AFSL 238342.

The information provided in this table is a brief outline of the major features of OneAnswer Frontier Investment Portfolio. It is intended as a quick and easy reference source for investors. The table should not be used as a substitute for reading the appropriate Product Disclosure Statement (PDS) prior to you making any decision to invest through OneAnswer Frontier Investment Portfolio.

The information is of a general nature and has been prepared without taking into account your objectives, financial situation and needs. You should consider whether the information is appropriate for you having regard to your objectives, financial situation and needs. We recommend that you read the relevant PDS before deciding to acquire, or to continue to hold, the product.

The PDS can be located under the following links: Product Disclosure Statement (Part One) (690kb) and Investment Funds Guide (PDS Part Two) (1,018kb) and should be read in conjunction with the Additional Information Guide.

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