An update from the manager, Jason Baggaley
In this podcast Jason Baggaley, manager of Standard Life Investments Property Income Trust, looks back on the past year and provides an update on how he's positioning the Trust for the year ahead.
Recorded on 8 April 2021.
Hello and welcome to the latest in our podcast series, where we look at how the managers on the Aberdeen Standard investment trust range are handling the crisis. Today, we’re talking to Jason Baggaley, manager of the Standard Life Investments Property Income Trust:
- Clearly certain businesses are experiencing considerable problems, which in turn affects their ability to pay their bills, including rent. To what extent have the companies involved in your portfolio experienced distress? (worth saying how the trust has avoided some of the most vulnerable areas, such as retail, for some time)
- Where companies have experienced problems, how have you handled it as a landlord?
- Have you made any adjustments to the portfolio as a result?
- What is happening elsewhere in the portfolio? Business as usual?
- Do you see an impact on the trust’s income? (using reserves?)
- Does the investment trust structure give you an advantage in this environment? (no forced selling, being able to capitalise on distressed pricing)
- What do you see as the longer-term prospects for the portfolio?
- What would you say to clients to give them comfort that carefully selected property should still play a role in their portfolio?
Thank you Jason for your time today, which we hope will provide some reassurance to investors in difficult times. Thank you to our listeners for tuning in. You can find out more about the trusts at www.slipit.co.uk