Imperium Capital Publication

Global Matters Weekly – 25 January 2021

StoreREIT telling: three key elements

by Jackson Franks
For me writing has never been easy, in fact English was my least favourite subject at school. However, I enjoy a challenge and as I think about what to write this week, I take myself back to my English class at school to remind myself of what writing tricks I was once taught. What I remember most is how we were taught the basics of writing a story: each story must consist of a beginning – hooking the reader & setting the scene, a middle – a series of interesting and exciting events, and an end – tie up loose ends & satisfy the reader. As I wrote these characteristics down it suddenly looked very familiar. This is what we expect of and how we critique real estate managers. We look for the successful implementation of a story which follows the same characteristics; a beginning – raising capital & deployment, a middle – asset management initiatives, and an end – disposing of the asset(s) & redeployment of capital.

Market Snapshot

  • Global equities rose 1.5% last week
  • Joe Biden was inaugurated as the 46th US President
  • Brent crude rose 0.6% last week to $55.4 a barrel
  • Gold rose 1.5% to $1855.61 per ounce

Global Matters Weekly – 18 January 2021

An industry in constant evolution

by Robert White, CFA
It is generally accepted that 2020 saw changes in the way we use technology that are likely to persist even after the pandemic ends. Many changes to society and markets already appear self-evident today, and developing a full understanding of the implications will be important for active managers over the years to come. The Christmas break provided us with a chance to ponder more introspectively over the impact these changes may have on the investment management industry itself, and how best to serve our clients over long term. Much has been written on how society will change following the pandemic and there are several examples of interesting shifts in consumer trends. My favourite example – albeit admittedly very niche – has been the explosion of interest in the 1,500-year-old game of chess since the pandemic. Despite the success of The Queen’s Gambit on Netflix, who would have thought the game would become one of the fastest growing spectator sports on video streaming services such as Twitch.

Market Snapshot

  • Global equities fell -1.4% last week
  • President Trump became the first US President to be impeached for a second time
  • Brent crude fell -1.6% ending the week at $55.1 a barrel
  • Gold fell -1.1% to end the week at $1828.5 an ounce