UK equities are universally hated by fund managers and investors around the world. However, in every crisis, there are always opportunities.
Real-estate investment trusts (Reits) seem to have borne the brunt of investors’ pessimism. Indeed, some are now trading at discounts of 50% to their reported net asset values (NAV). In some cases, these discounts seem warranted, but in others it looks as if the market has overreacted.
Don’t take the numbers at face value
reported a NAV of 115p per share at the end of its fiscal
