The Accolade Industrial Fund ended the first quarter with excellent results. Primarily due to the rise of online shopping and increased interest in the warehouses.
The Fund's performance reached 5.98% in the CZK and 2.39% in the EUR class. The yield on the CZK class was positively affected by the exchange rate fluctuation against the Euro. Industrial real estate performed very well in the first quarter of this year, mainly due to the rise in online shopping and warehousing. These two segments recorded significant growth. At the end of the first quarter of 2020, we have 790,000 m2 in the Fund worth more than EUR 574 million.
After years of calling on modern manufacturing with a high share of robotics and research and development activities, the society can appreciate something as common and previously unpopular as warehouses and trucking. Perhaps for the first time in the 21st century, we are seeing that business and storage infrastructure is extremely necessary and plays a key role in supplying us all.
The newsletter as of 1Q 2020 you can find here. Also you can see the Fund Factsheet.