You have heard of Uber, Lyft and Airbnb but what about Updater? Probably not, but one Australian hedge fund thinks that will change very soon.
The Australia-based Newgate Real Estate and Infrastructure Fund produced a return of 3.7% for its investors during the second quarter against a challenging backdrop. The Aussie real estate securities market declined by 3.4% over the same period. For the full fiscal year of 2017, the fund returned 7.2% compared to the real estate market which fell 6.3%.
In the fund’s June letter to investors, a copy of which has been reviewed by ValueWalk, Newgate’s managers...
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