Nesi Chetty from Momentum chose EPP as his stock pick of the day. Chetty said: “It is a property stock that is in the Eastern European space and is on an attractive forward yield of about 8.5%, in euros. Their distribution growth is just over 8%. It’s quite a niche fund, at about €2.7bn, but has very good retail assets with low vacancies of around 2%. Like-for-like growth of anywhere between 3% and 4% and fundamentals for Poland were quite great, so their real GDP is increasing and wages are going up.”
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