October 16, 2020
Fiera Real Estate UK Limited (“FRE UK”) is pleased to announce that its open ended Fiera Real Estate Long Income Fund UK (FRELIF UK) has achieved an effective collection rate of 93% 16 days post the September quarter-date. This follows 90% and 99% of rent collected since the March and June quarter-dates respectively.
FRE UK has continued to work closely with tenants since the onset of Covid-19 in March this year. This collaborative approach, coupled with tactical overweight positions to the more resilient sectors in the market, has helped drive impressive rental collection statistics over the period relative to a market average of 79%, 73% and 62% (7 days post rent day) for the March, June and September quarter-dates recorded at the due-date (Remit Consulting based on 125,000 tenancies).
FRELIF UK has overweight positions to industrial and food retail with a low exposure to operational assets and no holdings in the more at risk high street retail and shopping centre segments of the market.
Rupert Sheldon, Head of Core REIM and Manager of FRELIF UK commented:
“These market beating rental collection statistics reinforce the importance of a strong top-down sector led strategy and bear testament to the time and energy our wider team has invested in customer care and relationship building across our portfolio of tenants, not just since March, but consistently over the past five years. During a phase of the market where income constitutes more than 100% of total returns, this tactile approach is continuing to (quite literally) pay dividends for our investors”.