2023 In Review with Portfolio Manager Amy Pham Copy


In this interview, Adam Myers speaks with Amy Pham, the Portfolio Manager for the Penana High Conviction Property Securities Fund.

They discuss how the fund navigated the challenges of 2023 in the real estate market, highlighting the advantages of being a high-conviction fund and focusing on REITs with high-quality management and assets.

Amy Pham shares key insights into the fund’s performance, mentioning standout investments like NEXTDC and Stockland, as well as those that didn’t meet expectations, such as Qualitas and HealthCo REIT.

Looking ahead to 2024, Amy anticipates a strong year for the real estate investment sector, emphasizing the importance of companies balancing inflation and growth. The interview concludes with a mention of Amy’s monthly updates available on the company’s website.

Key Takeaways:

  1. Penana High Conviction Property Securities Fund outperformed the broader index in 2023, thanks to a selective approach focusing on high-quality REITs.
  2. Standout investments included NEXTDC and Stockland, benefiting from the surge in cloud computing and AI technologies.
  3. Investments like Qualitas and HealthCo REIT didn’t meet expectations, but confidence remains in their potential as they build market track records.
  4. Anticipation of a strong 2024 in the real estate investment sector, with stabilized interest rates and market expectations of rate declines.
  5. Emphasis on the importance of companies balancing inflation and growth for success in a potentially volatile market in 2024.
  6. The significance of diligent investment selection, highlighting the qualities of a strong balance sheet and access to capital.
  7. Amy Pham’s monthly updates can be subscribed to on the company’s website for further insights and information.

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Pengana Capital Group