Steve Buller, portfolio manager of Fidelity Global Real Estate Fund, remains committed to focusing on company fundamentals, and in this podcast, explores how uncertainty caused by the coronavirus pandemic is changing global real estate markets. In the wake of this pandemic, Steve has seen real estate for places where people gather as being hit the hardest - specifically hotels, malls and healthcare facilities. The Fidelity Global Real Estate Fund was positioned relatively defensively coming into this; overweight in sectors which have continued to perform well such as industrials, data centres and apartments, and Steve continues to keep it in this way. The current trends in industrials and logistics are only being accelerated due to the pandemic as we see a trade-off to e-commerce from brick and mortar, particularly in countries such as the U.S.
Recorded on April 30, 2020.