Portfolio manager Steve Buller manages the Fidelity Global Real Estate Fund and on this episode he discusses the impact of COVID-19 on global commercial real estate since the beginning of the year, as well as the catalysts to look for as we head into the second quarter of 2021. He explains how global real estate fits in the reopening trade and thoughts on real estate as a diversifier. Steve notes that retail, office and hotels were affected the most during the pandemic, but they are slowly starting to reopen and he anticipates that will continue. He also sees a recovery of global mall stocks since the November vaccine announcement. He believes office spaces will start to fill up in parts of Asia as oppose to North America and Europe, countries that have adopted a more working-from-home environment.
Recorded on March 5, 2021.