Updater: The Next Uber Or Airbnb?

You have heard of Uber, Lyft and Airbnb but what about Updater? Probably not, but one Australian hedge fund thinks that will change very soon. The Australia-based Newgate Real Estate and Infrastructure Fund produced a return of 3.7% for its investors during the second quarter against a challenging backdrop. The Aussie real estate securities market declined by 3.4% over the same period. For the full fiscal year of 2017, the fund returned 7.2% compared to the real estate market which fell 6.3%. In the fund’s June letter to investors, a copy of which has been reviewed by ValueWalk, Newgate’s managers…