STANDARD & Poor's has awarded a 4-star rating for the Russell International Property Securities Fund – $A Hedged (RIPSF) in the 2008 S&P International Property – Multi Manager Review.
The rating follows on from the funds fourth consecutive Highly Recommended rating by Lonsec this year and is the first time the fund has been rated by Standard & Poor’s.
RIPSF’s portfolio manager Bruce Eidelson said the 4-star rating is the highest given by S&P to a multi-manager.
Introduced in December 2004, the RIPSF invests in property trusts and property-related companies listed on international stock exchanges, predominantly in North America, Europe,
“The fund has produced strong performance since inception, and returns volatility has been relatively low, with a historical tracking error of around 2.0% pa, which is lower than the funds mandate. This demonstrates that Russell is able to identify good listed-property managers, and subsequently construct portfolios that minimise relative risk,” Eidelson added.
The S&P report states: “The fund’s access to dedicated capital-markets and direct-property teams ensures that it captures trends and structural changes in the market. Its skilful blending of managers improves the stability and reliability of investment returns.”
Along with the Russell Global Opportunities Fund and the Russell International Share Fund, this is the third Russell Fund to be rated by S&P for the first time this year and achieve a Four Star Rating.
Australian Property Journal
