WGPR Product Logo
Confidential – Not for Public Distribution

Wise Global Prime REITs | WGPR

Systematic Active Management of Global Listed Real Estate

Wise Capital Logo

The WGPR employs a systematic strategy for investing in global listed real estate, with exposure to REITs across approximately 20 countries. Its objective is to capture, in a disciplined manner, allocation opportunities across sectors, geographies, and urban markets, with a focus on risk-return efficiency in relation to a global passive real estate benchmark.

Representative portfolio of REITs' property holdings across major global regions.

General Motors Bld

General Motors Bld

New York, USA

Empire State Building

Empire State Bld

New York, USA

Embarcadero Center

Embarcadero Center

San Francisco, USA

Dufferin Mall

Dufferin Mall

Toronto, Canada

500 Folsom

500 Folsom

San Francisco, USA

Prologis Logistics

Prologis Logistics

Mexico City

Angel Building

Angel Building

London, UK

240 Blackfriars

240 Blackfriars

London, UK

Europlaza

Europlaza

Paris, France

World Trade Center

World Trade Center

Brussels, Belgium

Gewerbepark Stadlau

Gewerbepark

Vienna, Austria

Eurostars Hotel

Eurostars Hotel

Madrid, Spain

Otemachi First Sq

Otemachi First Sq

Tokyo, Japan

Citibank Plaza

Citibank Plaza

Hong Kong

Six Battery Road

Six Battery Road

Singapore

Port Melbourne

Port Melbourne

Melbourne, AUS

Logiport

Logiport Facility

Tokyo, Japan

CapitaMall GC

CapitaMall GC

Beijing, China

Wise icon
WGPR Benchmarks
Interactive Return & Risk Metrics
Click To Open
Wise icon
Multi-Asset Class Comp
Portfolio Role & Real Estate Adherence
Click To Open

Strategy Overview

The strategy is grounded in the view that the global real estate market is driven by multiple return vectors distributed across countries, cities, and property segments. Macroeconomic factors shape demand at the national level, while local supply dynamics and development cycles influence the relative evolution of urban markets and real estate sectors.

In listed markets, this diversity manifests in distinct pricing patterns and dispersion of returns. Through a systematic allocation process, the WGPR seeks to transform this heterogeneity into a consistent source of diversification, capital efficiency, and integration of real estate within global portfolios.

Strategy Snapshot

Attribute Description
Asset Class Global Listed Real Estate Securities (predominantly REITs)
Geography Investment grade jurisdictions
Implementation Systematic Active Management
Portfolio Structure Long / Short
Typical Holdings ~20–35 securities
Re-evaluation Cycle Biweekly optimization with interim recalibration when conditions warrant
Risk Concentration No position may contribute more than 10% of total portfolio risk
Liquidity Discipline Position sizing constrained by participation in average daily volume (ADV)
Capacity Objective ~$250M+ institutional scale

Global Opportunity Set

The strategy operates within a deep and liquid global listed real estate market, offering a diversified opportunity set across regions and property sectors.

North America Listed RE

~$1.5T

Europe Listed RE

~$350B

Asia-Pacific Listed RE

~$400B

Global Opportunity

~$2.1T+

Source: EPRA, NAREIT and industry estimates. REIT regulatory frameworks now exist across more than 40 countries and regions, representing approximately 85% of global GDP.

Why Liquid Real Estate

REIT securities are widely used by institutional investors as an implementation vehicle, providing liquid exposure to underlying property markets while enabling continuous portfolio adjustments as new information is incorporated into prices.

This liquidity facilitates efficient expression of views and timely repositioning of exposures, allowing portfolios to adapt without disrupting the broader allocation framework.

Within a combined public–private real estate allocation, listed markets play a distinct and complementary role. Public pricing mechanisms incorporate sector conditions and capital market dynamics more rapidly, while private valuations adjust more gradually and exhibit greater inertia.

This difference in adjustment speeds creates a structural lag between the two segments, generating a differentiated set of signals that can be used to improve timing, enhance diversification, and strengthen overall portfolio efficiency.

Scalability & Execution Framework

Diversification across securities, combined with liquidity-aware position sizing and exposure to large-capitalization real estate platforms, allows the strategy to scale while maintaining efficient execution and portfolio flexibility. All positions are implemented through exchange-traded securities, supporting transparent price discovery and efficient portfolio implementation.

  • Bid-ask spread estimates
  • Slippage assumptions by security
  • Brokerage and exchange fees
  • Borrow availability and borrowing costs for short positions
  • Foreign exchange transaction costs

Investment Process

The investment process integrates market-state inference, portfolio optimization, and disciplined implementation within a continuously evolving research framework.

Portfolio allocations are derived from models designed to estimate latent market conditions across regions, property sectors, and individual securities within the global real estate universe.

These signals are translated into investable portfolios through an optimization framework that jointly incorporates:

  • • Expected return estimates
  • • Forecasts of portfolio risk
  • • Liquidity and capacity constraints
  • • Transaction cost and market impact models

Portfolio adjustments follow an explicit decision rule: the estimated optimal portfolio must deliver a higher expected net performance than the current portfolio after accounting for transaction costs and implementation frictions.

Investment Vehicles

The strategy is currently implemented through Separately Managed Accounts (SMAs).

Investor access is supported through institutional-grade prime brokerage infrastructure with operational presence in the United States, Canada, United Kingdom, Singapore, Hong Kong, Japan, Australia, and Luxembourg.

Availability may vary depending on investor jurisdiction and applicable regulatory requirements.

WGPR Logo

Selected Securities Within the Strategy Universe

The following securities illustrate the type of institutional-grade listed real estate platforms represented within the strategy universe.

Company Ticker Region Primary Property Sector
Prologis PLD United States Global logistics real estate
Equinix EQIX United States Digital infrastructure / data centers
Klepierre LI France European retail real estate
Goodman Group GMG Australia Industrial logistics
Segro SGRO United Kingdom Urban logistics

Selected securities are illustrative and do not represent a complete list of portfolio holdings.