Fat Prophets Global Property Fund (AU:FPP) has released an update.
The Fat Prophets Global Property Fund (FPP) reported a modest increase of 0.9% in Net Tangible Assets (NTA) for May 2024, outperforming Global REITs which saw a slightly smaller rise of 1.1% in AUD terms. Despite currency headwinds due to a strengthening Australian dollar, the fund experienced positive returns with its best-performing investment, ESR Cayman, yielding a 27% return. The shift towards interest rate cuts globally is seen as a favorable trend for the REIT sector.
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