Fat Prophets Global Property Fund (AU:FPP) has released an update.
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Fat Prophets Global Property Fund (FPP) reported a significant net tangible asset (NTA) increase of 8.1% in July 2024, outperforming its benchmark amidst a strong month for real estate investment trusts (REITs). The Fund benefited from expectations of interest rate cuts and a defensive investor stance, with Australian REITs lagging behind global counterparts despite the Fund’s overweight position in Australia. Currency movements, particularly a weaker Australian dollar, also contributed positively to the Fund’s performance.
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