AWP: Global Real Estate Exposure Comes With A Premium

Abrdn Global Premier Properties Fund remains a hold due to inconsistent earnings and weak NAV growth, despite a high 11.7% yield. AWP trades at a 1.41% premium to NAV, above its five-year average discount, making current entry relatively expensive. Distribution sustainability is questionable, with 82% of YTD payouts classified as return of capital, pressuring long-term NAV growth. AWP’s leverage and high payout policy heighten risk in a rising rate environment, and it underperforms more efficient peers like RNP.