I spent some time comparing the performance of different sectors during the 2009 financial year. 2009 was NOT a great year for property trusts sector (XPJ) in general as most people would believe. We started the year with 900 points and now its 845! The main winners during 2009 were Energy sector (XEJ) which gained around 3000 points (from 13000 to 16000). Financials (XFJ) gained around 1100 point (from 3500 to 4569). Materials (XMJ) gained 3000 points (from 9000 to 12000. Metals and mining (XMM) gained almost 1200 points (from 3000 to 4200). The health care (XHJ) and Industrials (XNJ) and utilities (XUJ) made smaller gains. Finally the all ordinaries (XAO) gained around 1000 point (from 3600 to 4600). I still cannot find any logical reasons why the XPJ is under performing the rest of the market!! considering its massive losses during 2008 (it was 2500 points during 2008!) and the fact that the property market in Australia did not lose much value in comparison with the rest of the world during the GFC! Hope the market will start to see how undervalued the Property trust sector is and have some improvement during 2010.
FKP Price at posting:
55.5¢ Sentiment: Buy Disclosure: Held
