Custodian REIT (CREI) generated a 2.5% NAV total return in Q421, taking the H221 total to 4.9% and FY21 to a positive 0.9% despite pandemic-driven weakness earlier in the year. H221 returns were supported by improving rent collection, delivering increased DPS (including a fifth interim payment), and positive net valuation gains, primarily driven by a strong (49%) industrial asset weighting and asset management initiatives.