"Re J REIT discussion, I suggest people also look at Astro Japan (AJA) an Australian listed REIT which concentrates on Japan and has an enticing yield of 20% (disclosure, I own it). It has high leverage (70%), but it is non-recourse beyond the individual security properties. See also recent announcement for background."

Eoin Treacy's view Thank you for highlighting this Australian listed fund investing in Japanese property and the associated announcement. The 20% yield, as you mention, does not come without risk and is unlikely to be sustained at such high levels. Nevertheless, the REIT remains a recovery candidate.

Prices are performing more or less in line with other vehicles in the sector. It found support in the region of 33¢ in February and a sustained move below that level would be required to question scope for further higher to lateral ranging.