Standard Life Investments

Standard Life Investments Property Income Trust Limited

Mex ID: ITSLI SEDOL: 3387528 Reuters: SLI.L

Price
91.50
NAV
86.00
Premium/(Discount)
6.40%
Daily Price Change
-0.50p (-0.54%)
Change date
12/12/2017

Figures above are updated every business day after the close of trading and those displayed are to the close of the previous business day. Figures are shown in pence (GBP) and the data is provided by, and copyright ©2016, FE.

General Trust Information

Objective

The companies investment objective is to provide Ordinary Shareholders with an attractive level of Income with the prospect of income and capital growth.

Profile

The companies investment objective is to provide Ordinary Shareholders with an attractive level of Income with the prospect of income and capital growth.The fund will acheive the investment objective by investing in a diversified fund consisting of UK commercial properties. The majority of the portfollio will be invested in direct holdings within the three main commercial property sectors of retail, office and industrial.

Fund Manager

Jason Baggaley

Jason Baggaley

Jason Baggaley, a qualified chartered surveyor, joined Standard Life Investments in 1996 and has over 17 years of real estate fund management experience. In addition to managing the Standard Life Investments Property Income Trust Limited, Jason also manages two major segregated property funds offering strong performance track records.

Awards

Moneywise Investment Trust Awards 2017 – Property Direct UK - Standard Life Investments Property Income Trust.

What Investment – Best Investment Trust for Income – Standard Life Investments Property Income Trust

Performance

Trust Performance (on a bid to bid basis)

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Past performance is not a guarantee of future returns. The value of investments may go down as well as up and you may receive back less than you invested. Your capital and income is not guaranteed.

Trust Performance & Returns

(on a bid to bid basis)
Fund performance
Sector performance
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Fund performance
Sector performance

Past performance is not a guarantee of future returns. The value of investments may go down as well as up and you may receive back less than you invested. Your capital and income is not guaranteed.

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Monthly Valuation

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Performance (on a bid to bid basis)

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Trust Performance(on a bid to bid basis)

(on a bid to bid basis)
Fund performance
Sector performance
 Last 1 month*Last 6 months*Last 1 year*Last 3 years*Last 5 years*
Fund performance
Sector performance

Past performance is not a guarantee of future returns. The value of investments may go down as well as up and you may receive back less than you invested. Your capital and income is not guaranteed.

* Values to -

** n/a indicates that fund performance information is not available for this period due to the date the fund was launched.

Current details

All prices displayed in p (GBP). Figures below updated at 05:30 pm. Figures are provided by, and copyright @2016, FE on a delayed basis.
EPIC code:SLI
Market sector:IT Property - Direct UK
Mid price:91.5000
Bid price:0.0000
Offer:0.0000
Opening price:0.0000
Daily high:0.0000
Daily low:0.0000
Previous day's close:91.5000
Daily change:0.0000 (0.00%)

LSE Announcements

Video

With a historical yield of around 5.3%, the SLI Property Income Trust offers dependable returns for income investors. And with growing opportunities in industrial and office spaces, Jason Baggaley explains why he remains bullish on property income.

Video duration: 00:03:55

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How to Invest

How to Invest

Shares in Standard Life Investments' range of investment trusts are listed on the London Stock Exchange. As with any public quoted company, investment trust shares can be bought and sold on the stock market. This can be done through directly through a platform provider such as Standard Life or via a stockbroker, financial adviser or wealth manager.

We recognise professional financial advice is important before taking any investment decision. We recommend investors seek financial advice before taking any decisions. If you'd like to find an adviser in your area, take a look at www.unbiased.co.uk.

Alternatively, there are a number of platform providers who offer an online ‘execution only’ service, some of these are listed below.

You should note that by clicking any of the above links, you will leave Standard Life Investments' website and go to another website. We are not responsible for the content or accuracy of external websites.

The value of investments and the income from them can go down as well as up and is not guaranteed; an investor may get back less than their original investment.

Insight

Work, play, live: why boring offices make bad investments

November 2017

Goodbye commute! Standard Life Investments’ Jason Baggaley reveals why millennial workers are worth wooing.

A focus on good quality properties, housing good quality tenants, in good locations, helps Standard Life Property Income Trust’s (SLIPIT) manager Jason Baggaley ensure he is able to pay an attractive and sustainable dividend over the medium term.

While the Company typically has comparatively shorter leases than the market average, a dividend yield above 5% can be maintained through careful selection of the right style of assets.

Baggaley argues that by holding good quality assets, he is able to re-let more quickly, in addition to generating superior rental growth.

He sees this trend playing out particularly in the office sector where he scours cities across the UK looking for very select investment opportunities with places such as Manchester, Bristol, Birmingham and Reading proving particularly attractive.

‘All these cities have got great transportation links, great universities, and are vibrant. I want to have an office building located in the centre of all that, in those towns where people can work, live and play in a small area as commuting for an hour and a half seems to have gone out of fashion.’

But location isn’t enough for Baggaley, as he’s finding that the functionality and interiors of the offices are becoming increasingly important.

This is the case especially for younger professionals who now make up a significant part of the workforce, with their spending therefore a key driver of local economies.

‘It may sound silly to some people but having a very boring office environment doesn’t help recruit millennials, you need to have something that has a bit of a wow factor, so we make sure we pay attention to that when we invest or when refurbishing existing holdings.’

Local economies are not just being reshaped by a changing workforce, but by other big shifts, such as the migration of shopping from bricks and mortar to online.

This has had a profound impact on the UK’s traditional high streets, which Baggaley believes is a barrier to investment.

‘Retail at the moment is a cause for concern. Good retail is expensive and has a very low yield, while poor retail is just not worth owning. This makes me very cautious about buying into the retail sector at the moment as there’s so much structural change underway.’

He believes the area which is most dangerous is secondary retail; small high streets, and poor quality old shopping centres which will need lots of capital expenditure to update.

‘Retail warehouse parks which are tucked away and nobody knows they’re there; they’re going to need a lot of capex to make them relevant.’

In comparison, a type of asset he finds more attractive would be a relatively modern retail warehouse located close to a dominant park.

‘The rent on this type of warehouse will be less than the dominant park but everyone has to drive past it to get to the main one. I have bought two or three assets like these as I find them much better value.’

The other area that Baggaley likes to invest in is industrial. Over half of SLIPIT’s assets are invested in the industrial sector, with the main focus on distribution. The aim is to hold units that are well located to benefit from the growth of internet shopping, and the need to fulfil last-mile delivery, as well as buying in areas that will have limited supply due to loss of industrial land to residential uses.