Full Year 2023 RAM Essential Services Property Fund Earnings Call Transcript
Thank you very much. Good morning, everybody. For those who don't know me, my name is Scott Kelly. I'm the CEO of Real Asset Management in Australia. Today's plan could take around the next 20 minutes or so. I'll run you through and we'll run you through the results around essential services for some time. I will cover the highlights. I will give you an update on the expanded team, touch on ESG matters, then hand it over to other speakers to run through the points shown on the agenda on page 1.
Turning to page 3, the overarching comment I would make here is that we hit guidance and delivered a good solid set of results. The portfolio remains robust with 98% occupancy, stable valuations as you would expect from such a defensive portfolio. We've externally revalued 81% of the portfolio this year with the result being that the weighted average cap rate has increased by 18 basis points to 5.68%. We'll see from the comparisons later in the presentation that we believe that is a fine number that investors can rely on and also reflective of our
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