The Church Commissioners had to share success at the 15th IPD/IPF Property Investment Awards as it took the award for best-performing 10-year absolute returns alongside Aviva’s The Lime Property Fund.
Absolute returns were 13.5% for the Church Commissioners’ Total Real Estate fund and 6.4% for the Lime Property Fund but on a risk-adjusted basis the two funds’ returns were so close there was nothing to choose between them, said Ian Cullen, founder of the MSCI IPD Index.
The commissioners also walked away with the award for best-performing specialist unlisted fund, rising 17.9% in three years and the 10-year relative returns up 7.1%, making it the biggest winner on the day.
The awards, hosted by Berwin Leighton Paisner, were attended by the managers of many of the industry’s most notable funds. IPF chairman Max Sinclair and IPD executive director Phil Tilly presented the awards alongside Ian Cullen, advisory director at IPD.
Other winners on the day were Aberdeen for its Scottish Widows Life Fund, which had three-year returns of 12.9%, LaSalle with 15.85% returns on the LaSalle Managed Endowment Fund, and Standard Life for its specialist Investment UK Shopping Centre Trust with 10.7% returns.
| IPD/IPF Property Investment Awards |
|---|
| DATA QUALITY AWARD WINNERS: |
| • Keills |
| • CCLA Investment Management Limited |
| • Lend Lease Real Estate Investments |
| • The British Land Company plc |
| • Salmon Harvester Opportunity Fund |
| Sustainbility Data Award Winners |
| • Legal and General Property |
| • DTZ Investors |
| • Standard Life Investments |
| INSURANCE COMPANY LIFE FUNDS (ABOVE £100M) |
| Winner: Scottish Widows plc |
| Fund Manager: Aberdeen Asset Management |
| 3 Year Annualised Return: 12.9% |
| SEGREGATED PENSION FUNDS |
| (ABOVE £100M AND BELOW £350M) |
| Winner: Sun Life Assurance Company of Canada (UK) Ltd |
| Fund Manager: Aberdeen Asset Management |
| 3 Year Annualised Return: 13.6% |
| SEGREGATED PENSION FUNDS (ABOVE £350M) |
| Winner: Diageo Pension Trust Limited – Core Fund |
| Fund Manager: Cordea Savills LLP |
| 3 Year Annualised Return: 14.3% |
| BALANCED UNLISTED FUNDS IN THE PROPERTY FUNDS INDEX |
| (ABOVE £100M) |
| Winner: Hermes Property Unit Trust |
| 3 Year Annualised Return: 12.3% |
| OTHER BALANCED UNLISTED FUNDS (ABOVE £100M) |
| Winner: The LaSalle-managed Endowment Fund |
| Fund Manager: LaSalle Investment Management |
| 3 Year Annualised Return: 15.85% |
| SMALL BALANCED FUNDS (BELOW £100M) |
| Winner: Canada Life UK Life Funds |
| Fund Manager: Canada Life Investments |
| 3 Year Annualised Return: 14.2% |
| SPECIALIST FUNDS IN THE PROPERTY FUNDS INDEX |
| (ABOVE £100M) |
| Fund Manager: Standard Life Investments |
| 3 Year Annualised Return: 10.7% |
| OTHER SPECIALIST UNLISTED FUNDS (ABOVE £100M) |
| Winner: Church Commissioners Total Real Estate |
| Fund Manager: Church Commissioners for England |
| 3 Year Annualised Return: 17.9% |
| SPECIALIST LISTED FUNDS (ABOVE £100M) |
| Winner: Grainger Invest |
| Fund Manager: Grainger Plc |
| 3 Year Annualised Return: 17.2% |
| SMALL SPECIALIST FUNDS (BELOW £100M) |
| Winner: Hercules Income Fund |
| Fund Manager: LaSalle Investment Management |
| 3 Year Annualised Return: 9.4% |
| SPECIALIST FUNDS IN THE PFI |
| Winner: UBS Central London Office Value Added Partnership LP |
| Fund Manager: Sam Sananes |
| 3 Year Total Return: 23.7% |
| TEN YEAR RISK ADJUSTED ABSOLUTE RETURN (2004-2014) |
| Joint Award: |
| Winner: The Lime Property Fund |
| Fund Manager: Aviva Investors Real Estate |
| 10 Year Annualised Return: 6.45% 10 year Standard Deviation: 5.6% |
| Winner: Church Commissioners Total Real Estate |
| Fund Manager: Church Commissioners for England |
| 10 Year Annualised Return: 13.5% 10 year Standard Deviation: 12.0% |
| TEN YEAR RISK ADJUSTED RELATIVE RETURN (2004-2014) |
| Winner: Church Commissioners Total Real Estate |
| Fund Manager: Church Commissioners for England |
| 10 Year Average Relative Return: 7.1% 10 year Relative Standard Deviation: 5.36% |
