June Monthly Newsletter

  • June proved to be a very volatile month dominated by macroeconomic news predominantly around rising inflation and the prospects of a recession in the USA and Europe, rather than company fundamentals, as companies were in blackout before the August reporting season. The Australian listed property sector was hit hard and declined by -11% over June and -12.3% for the past 12 months. 
  • The Atlas High Income Property Fund declined by -6.5% in June on general market sentiment rather than investment fundamentals. Atlas is looking forward to the upcoming August profit season, which we expect will show the resilience of earnings for the Trusts we own in the Fund. The first week of July has seen the Fund recover most of June’s decline, with several trusts in the Fund declaring higher than expected distributions.
  • The Fund declared a quarterly distribution of $0.032 per unit for the June Quarter. The distribution will be paid to investors in early July, taking the annual yield to 7% for the year ending June 2022.

Go to Monthly Newsletters for a more detailed discussion of the listed property market and the fund’s strategy going into 2023