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#Initial Thoughts
Added 4 weeks ago

Some cursory observations that caught my eye:

A real estate and debt investment fund that's been listed since 2015.

Largely an income play with an average payout of 9cps over last few years (paid quarterly). That's a 10% yield at the current price (FY div reiterated in late March).

Moved to a large cash position at the start of 2020. Trading below NTA (which is $1.17) and buying back its own shares.

Will be added to the All Ords index as of June 22.

If i were to dig further, i'd want a much clearer view of the actual assets and management's investment track record.

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