North Star Corporate Finance is delighted to issue its quarterly PAIF Index publication, for the period of Q3 2017. Over the period in Q3 2017, the absolute PAIF Index increased by 1.4%. The corresponding movement in the REIT benchmark over the period was -1.4%. The year-on-year change (Q3 2016 vs Q3 2017) of the benchmark REIT index changed +6.0% compared to +8.4% for the PAIF Index for the period (a relative outperformance of +2.4%). Whilst the overall UK commercial property valuations in Q3 2017 continued the trend of recent quarters, the UK market is however witnessing divergence across sectors, with industrials notably outperforming other sectors, with returns driven by a combination of yield compression and good rental growth.
The NSCF PAIF Index provides an integral benchmark of relative performance of basket of Property Authorised Investment Funds (“PAIFs”), representing a proxy for the performance of the authorised UK commercial property funds market. The PAIF Index is also assessed against a benchmark of a basket of UK REITs, useful in presenting the clear differentials in valuation approaches and volatility between the UK property open-ended funds market and UK property closed-ended listed market. Our publication includes market commentary and major issues impacting the valuations of the property portfolios and market events and drivers.
For further information or queries, please contact Andrew Mansson-Lowe, Managing Director of North Star Corporate Finance.
+44 (0)20 3865 0532 | email@example.com
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