The Freehold Absolute Return Fund delivered a +1.1% return over February, driving 12 month returns to +22.5%. The Fund continues to generate very solid returns with low levels of volatility. In this month's newsletter: - We discuss the potential risks of unanticipated rises in US interest rates, which would likely see a correction in the 'yield trade' - Briefly describe how 'incentives' can be used in the real estate market to make fundamentals appear more robust than they are - Talk about our recent transactions in French toll road operator, Macquarie Atlas (MQA) Please follow the attached link to gain access to our monthly newsletter: (VIEW LINK)


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James Marlay

Great read on short term rates Tim, interesting observations on the jobs market and some useful charts.