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Stay Constructive on Charter Hall Despite Higher Rates -- Market Talk

Dow Jones
May 19

0009 GMT - Conventional wisdom suggests higher interest rates could lead to investors avoiding unlisted property, as other investments may offer better risk-adjusted returns. Morgan Stanley, however, suggests a different scenario. It tracked some A$49 billion of inflows into unlisted institutional real-estate funds over the past 17 years. Its conclusion: the link is more with asset valuations. "Previous troughs in inflows are usually followed by a step spike as soon as the devaluation cycle stops," analyst Simon Chan says. So, MS thinks investors should remain constructive on Charter Hall, unless they take the view that Australia is heading into a 12-18 month period of deteriorating asset values. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 18, 2026 20:09 ET (00:09 GMT)

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