June saw global share markets continuing to rebound from the panic selling seen in March. The ASX was buoyed by a sharp increase in retail sales in May and a continued easing of mobility restrictions. The Property Index was ahead for most of the month but finished in the red after a 3% fall on the final two trading days of the month.
The Atlas High Income Property Fund fell -1% in June 2020. While the sentiment towards listed property remains negative, the outlook is far clearer than it was in March. In late June Listed Property Trusts traditionally declare their distributions for the past six months. Across the index, Vicinity Centres was the only trust to not pay their June distribution with GPT waiting until the release of their profit results in August to make a decision.
The Fund declared a final quarterly distribution of $0.029 per unit for the financial year. The distribution will be paid to investors in early July.
Go to Monthly Newsletters for a more detailed discussion of the listed property market and the fund’s strategy going into 2020.
