Most sub-sector returns underperformed the broader listed property market in June including the Diversified (-1.5%), Office (-2.1%) and Retail (-0.4%)segments. The Industrial segment was the standout performer, dramatically reversing its 24.4% underperformance in May to post a 28.5% outperformance in June. This is largely attributed to GMG, which posted a positive relative return of 43.1% .The market reacted positively to news that GMG was in discussions with strategic investors regarding potential investment in the Group, although this was partially reversed when it announced that it was China Investment Corporation who would be committing to the same finance facility as the one with Macquarie Bank.
top 3 Accumulation returns
GMG 48% MCW 35.3% CDI 30.6
GMG Price at posting:
35.4¢ Sentiment: Hold Disclosure: Held
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