The basic premise of Maxim's investment philosophy is that there is a close relationship between the property market cycle and the economic cycle. Having regard to the prevailing economy, it is Maxim’s expectation that some property sub-sectors are likely to offer better value than others.
Accordingly, a great deal of focus is placed on identifying those sub-sectors which are likely to add value. As an adjunct, Maxim also seeks to exploit short as well as medium term pricing inefficiencies that occur in the property securities market from time to time.
The overall objective of adding consistent value over time is achieved through a disciplined approach focusing on top down sector drivers coupled with a superior bottom-up stock selection process.
This process favours securities which have clearly focused management teams, appropriately valued underlying assets and prospects for sound growth in distributions, whilst also being predominantly exposed to those property sub-sectors offering strong growth potential. |
