While Japan’s automakers have upped their game in the EV space, they remain laggards on the global stage. With the EV markets now in trouble, analyst Julie Boote assesses whether or not the Japanese assemblers have been vindicated in their more cautious approach to electrification.
abrdn European Logistics Income (ASLI) is riding out the storm of market valuation declines, with a focus on managing its portfolio and securing income. It has recently completed a number of letting renewals across its portfolio (see page 9) and uncapped, annual inflation-linked rental uplifts on two-thirds of its leases offer further promise. Evidence that valuations in the European logistics real estate sector are stabilising is growing, not least through a sale from ASLI’s portfolio at a smal...
abrdn European Logistics Income’s (ASLI’s) manager is focused on riding out the storm of market valuation declines, with an emphasis on managing its portfolio and securing income. It has recently completed a number of letting renewals across its portfolio (see page 9) and uncapped, annual inflation-linked rental uplifts on two-thirds of its leases offer further potential for rental uplifts. ASLI’s manager says that evidence that valuations in the European logistics real estate sector are stabili...
High interest rates have hit the share price of real estate companies, with those in sectors with low investment yields, such as logistics, particularly impacted. abrdn European Logistics Income (ASLI) is no different and the market turmoil has seen its discount widen to 34.0% – in line with its UK peers despite the spread between yields and cost of debt being far wider in Europe (suggesting values will be less impacted). The fundamentals of the European logistics sector remain strong. A chroni...
It appears that high interest rates have hit the share price of real estate companies, with those in sectors with low investment yields, such as logistics, particularly impacted. abrdn European Logistics Income (ASLI) is no different and the market turmoil has seen its discount widen to 34.0% – in line with its UK peers despite the spread between yields and cost of debt being far wider in Europe (which the manager suggests will mean values in Europe will be less impacted). The fundamentals of t...
Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month...
Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month...
If one looks through the current interest rate cycle and trusts that inflation will be brought under control at some point within an investable timescale, then the hope is that as the cost of capital reduces real estate values will rise again. Our worst-case scenario of a 200bps move in yields and no rental growth would see valuations fall by a third. Many of the discounts that industrial and logistics property companies are trading on are currently wider than this. Couple this with the strong o...
As events unfold in Ukraine and inflation rages, the European logistics property sector should prove to be a safe haven for investors. One of the largest investors in the space, abrdn European Logistics Income (ASLI), has a growing portfolio that has significant inflation protection, with all of its income index-linked and almost two-thirds uncapped.It has been a busy period of growth for the company, with the manager putting the proceeds from recent capital raises to good use. Its focus has bee...
As events unfold in Ukraine and inflation rages, the European logistics property sector should prove to be a safe haven for investors. One of the largest investors in the space, abrdn European Logistics Income (ASLI), has a growing portfolio that has significant inflation protection, with all of its rental income linked to inflation indexes and almost two-thirds uncapped (meaning it will rise annually with the rate of inflation).It has been a busy period of growth for the company, with the manag...
As events unfold in Ukraine and inflation rages, the European logistics property sector should prove to be a safe haven for investors. One of the largest investors in the space, abrdn European Logistics Income (ASLI), has a growing portfolio that has significant inflation protection, with all of its income index-linked and almost two-thirds uncapped.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
As Aberdeen Standard European Logistics Income (ASLI) marks its third anniversary since launch, it has recorded a net asset value (NAV) total return over the period of 16.5% and a share price total return of 22.5%. The COVID-19 pandemic has only served to reinforce the strong characteristics of the European logistics sector, where a surge in online retailing has resulted in huge demand for space from e-commerce operators. An acceleration in the online retailing trend, as well as a strengthening ...
As Aberdeen Standard European Logistics Income (ASLI) marks its third anniversary since launch, it has recorded a NAV total return over the period of 16.5% and a share price total return of 22.5%. The COVID-19 pandemic has only served to reinforce the strong characteristics of the European logistics sector, where a surge in online retailing has resulted in huge demand for space from e-commerce operators. An acceleration in the online retailing trend, as well as a strengthening of supply chains f...
The logistics sector, in which Aberdeen Standard European Logistics Income (ASLI) invests, is likely to be one of the few property sectors that will see occupier demand increase in the long term as a result of the coronavirus pandemic. With some form of a lockdown enforced in most European countries, there has been a spike in ecommerce orders. A whole new cohort of the population has been introduced to online retailing, which is expected to speed up penetration rates across Europe and reinforce ...
Aberdeen Standard European Logistics Income (ASLI) has assembled a portfolio that is primed to cash in on the fundamental shift in consumer spending to online retail. The European logistics market is set to follow in the footsteps of the UK market, which has witnessed a surge in demand from occupiers wrestling for more efficient supply chains as online sales grow.
Aberdeen Standard European Logistics Income (ASLI) has assembled a property portfolio that is primed to cash in on the fundamental shift in consumer spending to online retail. The European logistics market is set to follow in the footsteps of the UK market, which has witnessed a surge in demand from occupiers wrestling for more efficient supply chains as online sales grow.
Aberdeen Standard European Logistics Income (ASLI) has built a portfolio of 10 assets, deployed all the money it raised at IPO and has declared dividends totalling 3p per share in respect of its first accounting period (in-line with its target). Borrowing facilities are being arranged that will fund the purchase of one more asset and meet stage payments for construction projects that it has financed.
Aberdeen Standard European Logistics Income (ASLI) has built a portfolio of 10 assets, invested all the money it raised at IPO and has declared dividends totalling 3p per share in respect of its first accounting period (in-line with its target). Borrowing facilities are being arranged that will fund the purchase of one more asset and meet stage payments for construction projects that it has agreed to finance.
Aberdeen Standard European Logistics Income (ASLI or the company) is a new company that intends to qualify as an investment trust. It will invest in a diversified portfolio of ‘big box’ logistics and ‘last mile’ urban warehouse assets in Europe (this includes both the UK and the Nordic countries - see page 3 for more detail on the investment proposition) with the aim of providing its shareholders with a regular and attractive level of income return together with the potential for long-term incom...
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