Stockholm (HedgeNordic) – United Bankers, the Finnish asset manager focusing on REITs funds, have through its UB Real REIT Fund increased the weight to Swedish property shares. The Swedish market is now the second biggest in the fund, according to the fund´s monthly commentary.
The UB Real REIT Fund, which invests in listed property shares and REIT’s, has built positions in Kungsleden and Diös in order to increase its Swedish exposure.
“We have built a position in the Swedish property company Kungsleden as their stock has been pressured by a large rights issue. We see room for significant mean reversion in the share price. In addition to Kungsleden we have also earlier increased our exposure to tier 2-3 cities in Sweden through the small but nimble Dios Fastigheter”, portfolio manager Aki Kostiander writes in a comment.