8 October 2024

In Credit Weekly Snapshot – October 2024

Our fixed income team provide their weekly snapshot of market events.
8 October 2024

The climate risk ‘hot potato’– which sector will be left with burnt fingers?

A secure and consistent supply of critical minerals is fundamental to the energy transition and to achieving net-zero, but demand is putting pressure on supply chains and costs, and risks polarising sentiment around the energy transition.
8 October 2024

Q3 2024 repo update

Fears of an economic slowdown and helpful falls in inflation rates opened the door to the first rate cuts in the US and the UK, and for a second in Europe.
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Real estate credit​

US

Columbia Threadneedle investment management teams benefit from a research capability dedicated to public real estate debt investments, via commercial mortgage-backed securities (CMBS).
CMBS are bonds backed by a diversified pool of commercial real estate mortgages (conduit CMBS) or bonds backed by a mortgage from an individual borrower (Single Asset Single Borrower, SASB).  We consider CMBS a sub-sector of our overall structured assets capability.
We believe that structured assets are inherently inefficient and that the degree of inefficiency changes with broader market conditions. We focus on a value-driven investment process to exploit market inefficiencies in a consistent and repeatable manner. 

Solutions

Commercial mortgage-backed securities                                                                                                                                                                                                                                                                                                                        

US

Columbia Threadneedle’s real estate loan investment team focuses their research primarily on privately negotiated first mortgage debt, secured by stable and cash generating real estate assets. The team is comprised of highly experienced private real estate credit professionals and their coverage includes all major property types.

Approximately 15% of the US commercial mortgage debt outstanding is held by life insurance companies, who may find the long-term income generating nature of these loans a good match for their liabilities.

The real estate loan team focuses their research capabilities across all fixed rate loans, with terms ranging from 3 to 20 years and balloon balances at maturity. The most common structure is a 10-year term, with monthly payments based on a 25-year amortisation schedule.

These loans are thoroughly researched and carefully selected with a focus on long-term value to drive mortgage performance throughout the real estate cycle.
Our real estate loan investment team benefits from the firm-wide commercial real estate capabilities at Columbia Threadneedle.  There is a continuous collaboration and exchange of insights and ideas across the spectrum of private and public real estate equity and debt between investment managers and analysts.

Solutions

Loan investments across all property types, with a particular focus on the retail, apartments, industrial, and office sectors

Real estate investing powered by diverse expertise and specialisms
Real Estate, Property, Buildings

Insights

18 September 2024

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

UK Real Estate – Overview Q2 2024

The UK economy recorded strong growth in the second quarter, with GDP growing by 0.6% in the 3 months to June, primarily led by growth in the services sector.
Read time - 3 min
17 July 2024

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

UK Real Estate: Talking points July 2024

Political stability, rebased pricing, falling inflation and the expectation of rate cutting are collectively expected to provide a more supportive environment for UK real estate.
Read time 2 min
21 June 2024

James Coke

Fund Manager & Co-head of Institutional UK Real Estate

Emma Gullifer

Assistant Fund Manager

Green to gold: realising opportunities from the carbon transition

We explore the interventions required to monetise green energy, and how investors might benefit from the carbon transition.
Read time - 2 min
22 May 2024

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

UK Real estate – Overview Q1 2024

Total returns for the UK commercial property market turned positive in Q1 2024.
Read time - 3 min
25 April 2024

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

UK Real Estate: Talking Points April 2024

Our quarterly snapshot of current real estate market trends.
Read time - 2 min
15 February 2024

Hans Nordby

Head of Research & Analytics, Real Estate (US), Lionstone Investments

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

2024 Global Real Estate Outlook

What's in store for real estate in 2024? Global megatrends and financial conditions will impact returns and sector allocation.
Read time - 4 min
12 December 2023

Assia Amore

European Fund Manager, Real Estate

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

The resurgence of Europe’s luxury high streets is gathering momentum

High street retail markets across Europe are benefitting from the solid recovery of tourism, both international and domestic.
Read time - 3 min
22 December 2022

Joanna Tano

Head of Research, Europe, Real Estate (EMEA)

Real Estate: Preserving Value

There was a definite air of positivity in European real estate markets in January and February 2022.
Read time - 4 min
14 March 2022

Solutions Enhanced: Capital Market Assumptions 2022 Making a transition

The end of 2021 saw a continuing reminder of the impact of coronavirus, inflation occurring in major economies, and the world waking up to the stark choices presented by the climate emergency. We set out the expectations for what all this could mean for investors over the next five years and in the longer run. These capital market assumptions form the base case we use when constructing strategic asset allocations for clients.
Read time - 3 min

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Investment strategies

We offer a broad range of actively managed investment strategies and solutions covering global, regional and domestic markets and asset classes.

Our funds

Columbia Threadneedle Investments has a comprehensive range of investment funds catering for a broad range of objectives.

Documents

Find all documents related to this capability.

Important Information

For use by professional clients and/or equivalent investor types in your jurisdiction (not to be used with or passed on to retail clients). For marketing purposes. The above information is intended for informational purposes only and should not be considered representative of any particular investment. This should not be considered an offer or solicitation to buy or sell any securities or other financial instruments, or to provide investment advice or services.

Investing involves risk including the risk of loss of principal. Your capital is at risk. Market risk may affect a single issuer, sector of the economy, industry or the market as a whole. The value of investments is not guaranteed, and therefore an investor may not get back the amount invested. International investing involves certain risks and volatility due to potential political, economic or currency fluctuations and different financial and accounting standards. Real estate investing involves risks, including, without limitation: (i) actual operating results; (ii) interest rates; (iii) availability and costs of financing; (iv) economic and market conditions; (v) date of expected exit; (vi) increases in costs of materials or services beyond projections; (vii) force majeure events (e.g., terrorist attacks, extreme weather conditions, earthquakes, war); (viii) supply/demand imbalances; (ix) currency fluctuations; (x) litigation and disputes relating to investments with joint venture partners or third parties; (xi) changes in zoning and other laws; (xii) inability to obtain necessary licenses and permits; (xiii) competition; and (xiv) changes in tax law and tax treatment and disallowance of tax positions.
The value of directly-held property reflects the opinion of valuers and is reviewed periodically. These assets can also be illiquid and significant or persistent redemptions may require the manager to sell properties at a lower market value adversely affecting the value of your investment.
The views expressed are as of the date given, may change as market or other conditions change and may differ from views expressed by other Columbia Threadneedle Investments (Columbia Threadneedle) associates or affiliates. Actual investments or investment decisions made by Columbia Threadneedle and its affiliates, whether for its own account or on behalf of clients, may not necessarily reflect the views expressed. This information is not intended to provide investment advice and does not take into consideration individual investor circumstances. Investment decisions should always be made based on an investor’s specific financial needs, objectives, goals, time horizon and risk tolerance. Asset classes described may not be appropriate for all investors. Past performance does not guarantee future results, and no forecast should be considered a guarantee either. The information presented above has not been reviewed by any regulatory authority.

In the UK: Issued by Threadneedle Asset Management Limited, No. 573204 and/or Columbia Threadneedle Management Limited, No. 517895, both registered in England and Wales and authorised and regulated in the UK by the Financial Conduct Authority.

In the EEA: Issued by Threadneedle Management Luxembourg S.A., registered with the Registre de Commerce et des Sociétés (Luxembourg), No. B 110242 and/or Columbia Threadneedle Netherlands B.V., regulated by the Dutch Authority for the Financial Markets (AFM), registered No. 08068841.

In Switzerland: Issued by Threadneedle Portfolio Services AG, Registered address: Claridenstrasse 41, 8002 Zurich, Switzerland.

In the Middle East: The information presented above is distributed by Columbia Threadneedle Investments (ME) Limited, which is regulated by the Dubai Financial Services Authority (DFSA). This information is not intended as financial advice and is only intended for persons with appropriate investment knowledge who meet the regulatory criteria to be classified as a Professional Client or Market Counterparty and no other person should act upon it. The above information and any other information or opinions subsequently supplied or given to you are strictly confidential and for the sole use of those attending the presentation. It may not be reproduced in any form or passed on to any third party without the express written permission of CTIME. By accepting delivery of this presentation, you agree that it is not to be copied or reproduced in whole or in part and that you will not disclose its contents to any other person.

In Hong Kong: Issued by Threadneedle Portfolio Services Hong Kong Limited 天利投資管理香港有限公司. Unit 3004, Two Exchange Square, 8 Connaught Place, Hong Kong, which is licensed by the Securities and Futures Commission (“SFC”) to conduct Type 1 regulated activities (CE:AQA779). Registered in Hong Kong under the Companies Ordinance (Chapter 622), No. 1173058.

In Singapore: Issued by Threadneedle Investments Singapore (Pte.) Limited, 3 Killiney Road, #07-07, Winsland House 1, Singapore 239519, which is regulated in Singapore by the Monetary Authority of Singapore under the Securities and Futures Act (Chapter 289). Registration number: 201101559W. This advertisement has not been reviewed by the Monetary Authority of Singapore.

In Australia: Issued by Threadneedle Investments Singapore (Pte.) Limited [“TIS”], ARBN 600 027 414. TIS is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 (Cth) and relies on Class Order 03/1102 in respect of the financial services it provides to wholesale clients in Australia. The information presented above should only be distributed in Australia to “wholesale clients” as defined in Section 761G of the Corporations Act. TIS is regulated in Singapore (Registration number: 201101559W) by the Monetary Authority of Singapore under the Securities and Futures Act (Chapter 289), which differ from Australian laws.

Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies.