Featured stock Q4 2013
An example of a high quality equity which we have recently added to our portfolio is as follows:
CBRE Group (CBG)
CBG is a play on the recovering US and Global real estate market. On Dec. 23, 2013, CBG announced that it has finished it’s $480 million acquisition of Norland, a best-in-class provider of technical engineering services for commercial buildings in the United Kingdom and Ireland. CBG is a well-managed company that has seen double digit revenue growth in the latest quarter, much better than competitors in the slowly improving global leasing market. This indicates that CBG is doing a good job choosing and managing growing properties, while leaving underperforming properties alone. We think CBG will continue to outperform the market over the next 12 months, CBG has thus far doubled the performance of the market since it entered the model portfolio on Dec. 18, 2013.