Tokyo property boosts Franklin's REIT

Based in New York, McKinley runs the £20.6m sterling-denominated portfolio with co-manager Jack Foster. The fund, which has approximately 57 stocks, returned 22.21pc in the six months to the end of January against 19.37pc for S&P Specialist sector average (bid-to-bid, according to S&P, 31.01.07). However, the return lagged that of a similar fund; Schroder’s Global Property Securities, which returned 24.8pc over the period. While McKinley is happy with performance, he believes his increased exposure to Japan will boost returns further. The manager said European property had beco...