16 December 20

Phoenix Spree Deutschland wins property specialist investment trust of the year recognised for second consecutive year

Phoenix Spree Deutschland (PSDL), the UK listed investment company specialising in Berlin residential real estate, has won the Property Specialist Investment Trust of the Year at the Citywire Investment Trust Awards for the second year running.

Citywire’s annual prestigious Investment Trust Awards celebrate the range of investment expertise within the UK investment company sector and applaud those closed-end funds achieving the best performance within their categories.

The winning investment trusts are those whose fund managers have added the most value for investors in their categories by analysing the growth in net asset value (NAV) in the three years to 31 August.

Phoenix Spree Deutschland’s three-year NAV return of 63.6% was said by Citywire to have “comfortably beat the UK specialists on the shortlist” but that the impact of the proposed Berlin rent controls had impacted the share price. Citywire noted that PSDL remains confident the legislation will either be overturned or that its condominium development plans will preserve shareholder returns.

Shortlisted investment companies and real estate investment trusts in the Property Specialist category included LXI Reit, GCP Student Living and Urban Logistics Reit.

The awards were judged by John Newlands of Newlands Fund Research; Ewan Lovett-Turner, Head of Investment Companies Research at Numis Securities; and Genevra Banszky von Ambroz, Fund Manager at Smith & Williamson.

Mike Hilton, Managing Partner of QSix, commented:
“I am delighted that Phoenix Spree Deutschland has been recognised by Citywire for this award for the second consecutive year. We are very proud of our track record of delivering value to shareholders through the active asset management of our portfolio. We remain committed to continuing to offer sustainable and valuable returns to investors.”