Title: 

URL Source: https://is.gd/FCSmwm

Published Time: Wed, 18 Jun 2025 05:49:11 GMT

Markdown Content:
Ordinary Shares May 2025 - all data as of 31/05/2025 unless otherwise stated 

## enquiries@trproperty.co.uk | trproperty.com 

# Fund objective 

The investment objective is to maximise shareholders ’ total returns by investing in the shares and securities of property companies and property related businesses internationally and 

also in investment property located in the UK. 

# Cumulative performance as at 31 -May -25 (%) 

1 Month 3 Months 6 Months YTD 1 Year 3 Years 5 Years 

Nav 3.4 9.0 5.5 12.2 5.0 -8.0 14.3 

Benchmark 2.8 8.1 5.0 10.7 3.1 -11.0 -1.4 

Share price 5.7 11.1 7.4 7.0 6.3 -5.4 16.1 

# Discrete performance as at 31 -May -25 (%) 

2024/2025 2023/2024 2022/2023 2021/2022 2020/2021 

Nav 5.0 25.8 -30.3 -0.5 24.8 

Benchmark 3.1 24.3 -30.6 -7.7 20.0 

Share price 6.3 24.7 -28.6 -2.1 25.3 

Source: Columbia Threadneedle Investments, Lipper 

Performance data is in GBP £ terms. Investors should be aware that past performance should not be considered a 

guide to future performance. All fund performance data is net of all fees and expenses. 

# Sector allocation (% NAV) 

German Residential 17.9 

Industrials 17.0 

European Shopping Centres 13.9 

Uk Diversifieds 12.0 

French Offices 8.2 

Swiss Diversified 6.9 

Uk Direct Property 5.4 

Student Housing 4.7 

Swedish Diversified 4.4 

Uk Majors 4.1 

Nordic Residential 3.0 

European Healthcare 2.9 

Uk Healthcare 2.7 

German Offices 2.1 

Supermarkets 2.1 

Uk/Ireland Residential 1.8 

Uk Retail 1.5 

Uk London Retail 1.4 

Self Storage 1.4 

Uk London Offices 1.2 

Hotels 0.6 

Stockholm Offices 0.6 

Austrian Diversified 0.0 

Total 115.7 

# Trust Facts 

Fund manager(s): Marcus Phayre -Mudge 

Fund type: UK Investment Trust 

Sector: AIC Property Securities 

Benchmark: 

FTSE EPRA/NAREIT 

Developed Europe Capped 

TR Net GBP 

Fund currency: GBP 

Fund size: £1153m 

Share price: 334.5p 

Historic yield: 4.8% 

Net gearing: 16.3%

Ongoing charge*: 

Including performance fee 1.81% 

Excluding performance fee 0. 82 %

Annual management fee: £4.18m plus 0.20% of net 

assets p.a 

Performance fee: 15% of outperformance of 

benchmark plus 1% hurdle 

Distribution policy: Semi -annual 

January, August 

Year end: 31 -March 

ISIN: GB0009064097 

FATCA: ML6PKQ.99999.SL.826 

NAV (Inc) per share: 363.4 

Discount / Premium ( -/+): -8.0% 

Tel: +44 (0)20 3530 6375 

Email: enquiries@trproperty. 

co.uk 

sales.support@columbiathr 

eadneedle.com 

*Ongoing charges calculated in accordance with AIC 

recommendations. Please refer to the latest annual report as 

to how the fee is structured. As of 31st March 2024. 

Morningstar 

rating †

# Top holdings (% NAV) 

3.8% 

4.4% 

4.7% 

4.8% 

4.9% 

5.1% 

5.7% 

6.1% 

6.3% 

6.3% 

0% 1% 2% 3% 4% 5% 6% 7% 

> Unibail -Rodamco -Westfield
> Vonovia
> Londonmetric Property
> Tag Immobilien
> Picton Property Income
> Klepierre
> Argan
> Unite Group
> Gecina
> Covivio

Ordinary Shares May 2025 - all data as of 31/05/2025 unless otherwise stated 

## enquiries@trproperty.co.uk | trproperty.com 

# Historical Performance 

# Fund performance 

# Excess return (net of fees) vs Benchmark per financial year 

-50 

0

50 

100 

150 

200 

250 

300 

May'11 May'12 May'13 May'14 May'15 May'16 May'17 May'18 May'19 May'20 May'21 May'22 May'23 May'24 May'25 

%

TR Property Investment Trust (NAV with Income) FTSE EPRA Nareit Developed Europe Capped Index (Net, GBP) 

-15 

-10 

-5 

0

5

10 

15 

20 

1 Month 3 Months 6 Months YTD 1 Year 3 Years 5 Years 

%

Fund Benchmark Share price 

-4 

-2 

0

2

4

6

8

10 

2011 –

2012 

2012 –

2013 

2013 –

2014 

2014 –

2015 

2015 –

2016 

2016 –

2017 

2017 –

2018 

2018 –

2019 

2019 –

2020 

2020 –

2021 

2021 –

2022 

2022 –

2023 

2023 –

2024 

2024 –

2025 

2025 –

YTD 

%Ordinary Shares May 2025 - all data as of 31/05/2025 unless otherwise stated 

Risk warning 

The value of investments and any income derived from them can go down as well as up as a result of market or currency movements and investors may not get back the original amount 

invested. The market value of the shares of TR Property may not reflect the underlying net asset value of the investments hel d by TR Property. TR Property is able to borrow to raise 

further funds for investment purposes if the fund manager and the board of directors consider that it may be commercially adv antageous to do so. This is generally described as 

“gearing ”. An investment trust which has made investments as a result of gearing may have a more volatile share price as a result; gearing can increase shareholder returns in rising 

markets but conversely can increase the extent to which the value of the funds attributable to shareholders decreases in falling markets. 

© 2025 Columbia Threadneedle Investments. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. 

This financial promotion is issued for marketing and information purposes only by Columbia Threadneedle Investments in the UK. 

TR Property Investment Trust PLC is an investment trust and its Ordinary Shares are traded on the main market of the London S tock Exchange. 

English language copies of the key information document (KID) can be obtained from Columbi a Threadneedle Investments, Cannon Place, 78 Cannon Street, London EC4N 6A. Email: 

inv.trusts@columbiathreadneedle.com or electronically at www.columbiathreadneedle.com. Please read before taking any investme nt decision. 

The information provided in the ma rketing material does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or o therwise transact in the 

Funds. The manager has the right to terminate the arrangements made for marketing. 

Financial promotions a re issued for marketing and information purposes; in the United Kingdom by Columbia Threadneedle Management Limited, which is authorised and regulated by 

the Financial Conduct Authority; in the EEA by Columbia Threadneedle Netherlands B.V., which is regula ted by the Dutch Authority for the Financial Markets (AFM); and in Switzerland 

by Columbia Threadneedle Management (Swiss) GmbH, acting as representative office of Columbia Threadneedle Management Limited . In the Middle East: This document is distributed 

by Columbia Threadneedle Investments (ME) Limited, which is regulated by the Dubai Financial Services Authority (DFSA). For Di stributors: This document is intended to provide 

distributors with information about Group products and services and is not for fur ther distribution. For Institutional Clients: The information in this document is not intended as financial 

advice and is only intended for persons with appropriate investment knowledge and who meet the regulatory criteria to be clas sified as a Professiona l Client or Market Counterparties and 

no other Person should act upon it.  

> †© 2025 Morningstar. All Rights Reserved. Ratings are latest available at time of publication and may be lagged 1 month. The i nformation contained herein: (1) is proprietary to Morningstar and/or its
> content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible fo r any damages or
> losses arising from any use of this information. Past performance is no guarantee of future results. For more deta iled information about Morningstar Rating, including its methodology, please click
> here .

## enquiries@trproperty.co.uk | trproperty.com 

# Dividend history