I’m James Wilkinson, Head of BlackRock Global Real Assets Securities Business. At its core, listed real estate investing is about putting your capital to work in public companies that own and operate income-producing real estate. For investors with the appropriate risk profile, these companies may offer an opportunity by providing regular income streams, diversification, and the potential for long-term capital appreciation. These companies are traded on stock exchanges worldwide, giving you access to daily liquidity and allowing you to invest in an asset class that is inherently illiquid given its physical nature. Now, let’s dive into the listed real estate universe. The global universe of real estate spans multiple use classes covering both traditional and modern sectors. Of the companies we invest in, around 80% of the index are structured as real estate investment trusts, or REITs. These tax efficient corporate structures are what differentiates them from other listed real estate companies, such as REOCs, real estate operating companies. All real estate companies, however, have four key characteristics. Contractual cash flows, backed by rental income from tenants, high barriers to entry, predictable growth and a natural linkage to inflation. Across our real estate strategies, we actively invest in REITs and other listed real estate companies, leveraging our bottom-up fundamental analysis to help identify alpha opportunities in this dynamic market.
Risk Warnings
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time.
Risk. Real Estate securities
Investments in real estate securities (including securities listed by Real Estate Investment Trusts (REITs) can be affected by the general performance of stock markets and the property sector. In particular, changing interest rates can affect the value of properties in which a property company invests. Investing in real estate securities is not equivalent to investing directly in real estate and the performance of real estate securities may be more heavily dependent on the general performance of stock markets.
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