"Currency hedging was a major element of our global property sector wrap in 2009, and this issue remains pertinent, particularly in the context of June 2010 distribution payments. Essentially, over 60 per cent of global property funds we have qualitatively rated have not paid their distributions for this period because of hedging losses," Morningstar fund analyst John Valtwies said.
The fund managers that have not paid distributions over the recent financial year include BT, Colonial First State, EQT SGH LaSalle, Fidelity, ING Clarion, Macquarie, Perennial and Zurich/Cohen & Steers.
