Fund Research

Standard Life Investments Property Income Trust

Last update 11 May 2018

Standard Life Property Income Trust (SLI) aims to generate an attractive and sustainable income stream from investments in UK commercial property. Over the last three years it has generated the second highest amount of income of the UK direct property trusts, which has helped push it on to a consistent premium. The trust is yielding 5.2%, the third highest figure in the sector.

The portfolio is biased towards industrial assets and very underweight retail, as the manager, Jason Baggaley, thinks the latter sector is facing secular and shorter-term headwinds.

Jason is cautious about the outlook for the UK economy, which means he is focusing on quality assets and reducing the gearing on the trust.

The start of 2018 has seen the company complete two transactions which have reduced the void rate and provided further cover for the dividend.

SLI's premium has generally traded higher since the post-Brexit referendum recovery in the property market.

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Fund History: Standard Life Investments Property Income Trust

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