We invest in industrial and logistics properties, with tenants which distribute essential goods, in a market where demand is high and supply is low. Active asset management enables us to grow value and deliver sector-leading returns to shareholders. We believe that a focus on smaller sized single-let properties exploits a value opportunity in this real estate sector. This is underpinned by resilient wider economic trends that support valuations and the portfolio’s ability to generate both income and an attractive total return for shareholders.