Over the last twelve months, listed property has been one of the top performing sectors on the ASX 200. Whilst Australian other sectors in the equity market have faced concerns about a rising and then falling AUD, falling commodity prices, Eurozone issues and bank capital raisings in the wake of Basel III; listed property has seemingly sailed under the radar and the index has posted a total return of +23% over the past 12 months bettering the overall equity market by 17%! In this note we will look at what is going on in listed property together with our positioning in the Aurora Property Buy-Write Income Trust (AUP) in the various property sectors.
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