The listed property trust sector continues to be one of the best performing sectors on the ASX. Prior to last Friday’s volatility, the sector had returned 14.48% this year. Over the three years to the end of May, it has returned 16.80% pa (distribution plus capital growth), which compares to the broader market’s 7.71% pa. Forward distribution yields on some of the major listed trusts such as Scentre, GPT or Dexus, somewhat remarkably, now start with a big figure of “4”. The search for yield has never been more intense.