The Schroder Real Estate Investment Trust has reported an unaudited net asset value of £335.7m or 64.8p a share, up 1.1 per cent during the quarter to 30 June.
It produced a total return of 4.2 per cent, outperforming the MSCI Quarterly Version of Balanced Monthly Index funds, which delivered a return of 2.2 per cent.
As at 30 June 2017, the underlying portfolio was made up of 45 properties valued at £459.2m.
The portfolio produced a rent of £27.2m a year reflecting a net initial yield of 5.6 per cent.
Its rental value was £33.4m a year, resulting in a reversionary yield of 7.3 per cent.
The portfolio is overweight property in the office sector compared to the MSCI Index and underweight property in the retail sector.
Compared to the index the trust is also overweight property in the Midlands, Wales, the north and Scotland but underweight property in central London and the south east.
The trust was launched in 2004 and is actively managed by Nick Montgomery and Duncan Owen.
damian.fantato@ft.com
