Development Securities PLC Fund won the coveted long term performance award at the IPD/IPF UK property Investment Awards 2011, with a 10-year risk-adjusted relative return of 1.6%.
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The performance reflected an 11% average return per annum, either matching or outperforming the IPD universe in every year. The 11th annual event, held on Thursday March 31, 2011, at Berwin Leighton Paisner's offices, saw IPD UK MD Phil Tily present 16 awards 10 performance-related, five for data quality as well as the introduction of the new IPD Sustainability Data Submission Award.
Introducing the event, John Gellatly, Chairman of IPF said: "These awards, now in their 11th year, are increasingly important for the industry as a whole and for those within it. For the individual funds, it is important that we now have a way to recognize and praise their efforts. And from an industry perspective, the longevity and increasingly established nature of the Awards makes them coveted prizes.
"2010 was a year of disconnects; while the annual total return was 15.2%, it was a year of falling rental values, coinciding with the fifth largest yield compression on record, while regionally and across the sectors there was huge volatility. Managing a successful portfolio through this turmoil, and into the increasingly murky future, is an impressive achievement."
Ian Cullen, Co-Founding Director at IPD, added: "It's very important that we understand what we are looking at here today, and the achievements behind the numbers. Returns for 2010 were 15.2%, but over the three years that we calculated the awards, returns have been negative, with the universe returning -3.4%. There are no double-digit returns for the winners, but they are almost all in positive territory, and that represents an enormously difficult achievement."
In connection with the new Sustainability Award, Gellatly added: "I think this is actually one of the most important Awards we have introduced sustainability is becoming an increasingly critical area in the industry. We need to reward those who are thinking about sustainability and working towards it."
Cullen added: "Sustainability is the one area where we are all lagging behind. The industry is doing well but it just has to get better and the best way to increase confidence and knowledge towards sustainability is to start rewarding those in the industry who are putting in the most effort."
Sustainability Data Submission Award
ING Real Estate Investment Management
Data Quality Award Winners
RREEF (4 funds)
Aberdeen Property Investors UK Ltd (7 funds)
Rockspring Property Investment Managers (3 funds)
Salmon Harvester Properties Limited (1 fund)
Invista Real Estate Investment Management Ltd (4 funds)
Source: IPD
Introducing the event, John Gellatly, Chairman of IPF said: "These awards, now in their 11th year, are increasingly important for the industry as a whole and for those within it. For the individual funds, it is important that we now have a way to recognize and praise their efforts. And from an industry perspective, the longevity and increasingly established nature of the Awards makes them coveted prizes.
"2010 was a year of disconnects; while the annual total return was 15.2%, it was a year of falling rental values, coinciding with the fifth largest yield compression on record, while regionally and across the sectors there was huge volatility. Managing a successful portfolio through this turmoil, and into the increasingly murky future, is an impressive achievement."
Ian Cullen, Co-Founding Director at IPD, added: "It's very important that we understand what we are looking at here today, and the achievements behind the numbers. Returns for 2010 were 15.2%, but over the three years that we calculated the awards, returns have been negative, with the universe returning -3.4%. There are no double-digit returns for the winners, but they are almost all in positive territory, and that represents an enormously difficult achievement."
In connection with the new Sustainability Award, Gellatly added: "I think this is actually one of the most important Awards we have introduced sustainability is becoming an increasingly critical area in the industry. We need to reward those who are thinking about sustainability and working towards it."
Cullen added: "Sustainability is the one area where we are all lagging behind. The industry is doing well but it just has to get better and the best way to increase confidence and knowledge towards sustainability is to start rewarding those in the industry who are putting in the most effort."
Sustainability Data Submission Award
ING Real Estate Investment Management
Data Quality Award Winners
RREEF (4 funds)
Aberdeen Property Investors UK Ltd (7 funds)
Rockspring Property Investment Managers (3 funds)
Salmon Harvester Properties Limited (1 fund)
Invista Real Estate Investment Management Ltd (4 funds)
Source: IPD
