The Multi-Strategy Property Trust for Charities aims to provide charities with a strategic allocation to a diversified portfolio of primarily UK commercial property assets. Through the implementation of stock selection and asset management skills the Trust will be underpinned by an attractive and stable income stream combined with the prospect for capital growth. The Trust will invest in direct real property holdings complemented by indirect property investments including open-ended and closed ended property funds, property index certificates and other suitable financial instruments and investments offering indirect exposure to real property returns. The Trust may invest in cash, and Near Cash where it is deemed appropriate to hold such liquidity and where consistent with the Scheme.

Advisor Company:
Cazenove Investment Fund Management Ltd

	1 year	3 years	5 years	10 years
Alpha*	-	-	-	-
Beta*	-	-	-	-
Mean annual return	-0.76	0.01	-0.16	-
R-squared*	-	-	-	-
Standard deviation	4.67	4.93	6.63	-
Sharpe ratio	-2.06	-0.10	-0.47	-
* Against standard index

Security	Net Assets
Fore Street, Taunton, Somerset	20.95%
Brewery Wharf, Leeds	16.43%
Grey Street, Newcastle	12.06%
Catalyst Trade Park, Edinburgh	9.65%
Noble House, Tabernacle Street, London	9.42%
The Lombard Centre, Kirkhill Industrial Estate, Aberdeen	8.15%
Bracken Trade Park, Bury	7.27%
Ranskill Court, Europa Link, Sheffield	4.67%
Fordwater Industrial Estate, Chertsey	3.78%