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Listed Real Estate

Global opportunities in listed real estate equity

Alternative Credit

Alternative Solutions

Real Assets

What’s new

Who we are

	Our listed real estate strategy aims to provide long term capital growth and income by investing worldwide in shares of companies related to the real estate industry while promoting environmental, social and governance characteristics.
Source: HSBC AM, as of 31st July 2025.

Why listed real estate

Correlated with direct real estate…
Over long-term holding periods, listed real estate equities may be more strongly correlated with direct property and weakly correlated to overall equities

…But more liquid than direct real estate…
Real estate equities offer liquid and relatively efficient access to global property

…And provides a potentially attractive yield
Real estate equities offer a yield that has historically been higher than general equities, together with the prospect of income growth and capital appreciation over the long term

What sets us apart

Experienced team

HSBC Asset Management has 20 years of experience in real estate investing

Global expertise

Access global real estate markets, with our team of analysts covering over 60 real estate markets across the world

A focus on risk management

We focus on large-cap, income-producing, low leverage real estate

“We aim to drive significant impact through our expertise, uncovering resilient real estate opportunities that adapt to market shifts and foster sustainable, long-term growth. ”

Nick Leming, Head of Listed Real Estate

Nick Leming

A glimpse into the investments

Healthcare

Encompasses senior living facilities, hospitals, and medical offices

Data Centers

Dedicated to properties supporting internet infrastructure, cloud computing, and IT services

Residential

Includes multi-family units, single-family units, and other residential housing developments

Industrial

Includes warehouses, logistics facilities, and manufacturing-related properties

Self-Storage

Facilities used for personal or business storage

Hospitality

Covers hotels, resorts, and other tourism-related properties

Retail

Comprises shopping centres, malls, and retail outlets

Office

Focuses on office buildings and corporate workspaces

Diversified

Companies operating across multiple property types without a specific focus

Leadership

Nick Leming
Head of Listed Real Estate

Guy Sheppard
Global Property Market Analyst

Tom Carlton
Senior Portfolio Manager

Contact us

If you are considering investing in alternatives, or want to learn more about our investment strategies, please get in touch.

Ready to talk?

Key Risks

Risk Considerations: There is no assurance that a portfolio will achieve its investment objective or will work under all market conditions. The value of investments may go down as well as up and you may not get back the amount originally invested. Portfolios may be subject to certain additional risks, which should be considered carefully along with their investment objectives and fees.
Illiquidity: An investment in alternatives is a long term illiquid investment. By their nature, the alternatives’ investments will not generally be exchange traded. These investments will be illiquid.
Long term horizon: Investors should expect to be locked-in for the full term of the investment
Economic conditions: The economic cycle and prevailing interest rates will impact the attractiveness of the underlying investments. Economic activity and sentiment also impacts the performance of underlying companies, and will have a direct bearing on the ability of companies to keep up with interest and principal repayments.
Valuation: These investments may have no or a limited liquid market, and other investments including those in respect of loans and securities of private companies, may be based on estimates which cannot be marked to market until sale. The valuation of the underlying investments is therefore inherently opaque.
Strategy Risk: Investments into alternatives may, among other risks, be negatively affected by adverse regulatory developments or reform, credit risk and counterparty risk. The credit market bears idiosyncratic risks such as borrower fraud, borrower bankruptcy, prepayment risk, security enforceability risk, subordination risk and lender liability risk.
Investor’s Capital At Risk: Investors may lose the entirety of invested capital