We have pleasure in issuing the quarterly factsheet for the quarter ending 30 June 2018.
The Fund's total return for Q2 2018 was 1.8%. In the year to June 2018 the Fund produced 10.6%, 0.9% above the index return of 9.7% and we are pleased to report that this marks our 11th consecutive year of outperformance.
Over the last five years the Fund has returned 11.4% per annum, compared to the index of 10.6% per annum. Over 10 years the Fund is the best performing charity fund and second best performing fund in the AREF/MSCI All Balanced Funds Property Index, returning 6.9% per annum, compared to the index at 4.9% per annum.
We are delighted that the Fund continues to exceed both its objective and the AREF/MSCI Index and we maintain our focus on sustaining a very high quality portfolio with long leases (12.1 years on average to expiry), strong covenants (almost 82% rated low or negligible risk), a very low vacancy rate (only 2.0%) and almost 40% of income is secured on leases benefitting from primarily RPI linked indexation.
We will provide a broad property market and individual sector commentary in our upcoming Annual Report and accounts.