The property PIEs.

[fungus pudding]

Any experts on the property companies? Kermadec, ING and Kiwi income are three which seem to be priced well below asset backing, which means high dividends with property. They look to be great buying for those in the high tax bracket. Any thoughts?

[AMR]

Hello my fellow cycling group member!

A brief look at ING and KIP says no, they are falling. Any dividends will be outweighed by capital losses. You might want to PM Lawso as well, he is quite into these funds.

[Lizard]

I'm no expert on PIE's, but had a look through all the income statements a few months ago. I specifically looked to see which ones appeared to have enough rental income to cover both current costs and current distribution levels. The results were quite different to choosing on discount to NAV.

While it is a bit simplistic still and need to understand how costs (particularly management fees) as generated, it seems a worthwhile exercise in deciding which ones are best placed in a slowdown.