Korean equities have rallied strongly since 2025, driven by AI and advanced technology demand that has lifted earnings expectations, particularly for semiconductor leaders. Beyond tech, improving governance, shareholder-friendly reforms, and broader opportunities support the investment case.
On the Continent, we have continued to observe strong performance of student housing assets. However, the latest academic year marked a material slowdown in operational performance for assets in the UK. Pricing in the sector has reflected changing fundamentals, as yields on the continent have remained stable or shown early signs of compression on a small number of markets, including Spain, Italy and Denmark.