Abrdn’s Standard Life Investment Property Income Trust has returned to health over the past year with total NAV return rising to 28.6%.
SLIPIT benefitted from rising valuations across its portfolio, which grew by 14.6% from £459.6m to £526.6m over the year. The NAV return is a marked improvement on the previous year’s -4.6%.
SLIPIT’s NAV has outperformed its AIC peer group over the 10-year benchmark, delivering a total return of 188.9% compared to 54.6%.
The total share price return of 43.4% was also a marked improvement on 2020’s -29.8%. Again, the 10-year picture shows SLIPIT outperforming the AIC peer group, with 184.8% compared to 40.9%.
IFRS earnings have also increased significantly to 21.54p per share, up from -3.88p for 2020, as a result of the recovery in valuations.
However, EPRA earnings have fallen from 4.1p to 3.69p per share, as a result of 2020 disposals on rental income.
Chair James Clifton-Brown said: “The company is seeking to reinvest in assets with a better outlook in order to grow the earnings per share again.”
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