Schroder ISF Asia Pac Prop: Qual. Rating Issued
Schroder ISF Asia Pacific Property Securities is a reasonable choice given its team’s disciplined strategy, though the brevity of its record undercuts our confidence at this stage.
"Manager Adam Osborn has dedicated his 18-year career to analysing Asia ex-Japan property securities. We are impressed by Osborn’s research experience, and also by his research backup. The stable team consists of 11 members with 15 years' investment experience on average. While Osborn’s lack of research experience in Australian and Japanese property stocks raises some concerns, we are pleased to see some specialists on the team dedicated to these two areas. The latest addition to the team, Australian infrastructure and property specialist Daniel Peters, enhances an already-strong research effort. However, because this is Osborn’s first stint as a portfolio manager and a few members are new to the process, the team as a whole needs more time to show its worth over a full economic cycle."
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