CEO of Investment Manager (Target Fund Managers), Target Healthcare Reit Ord
Search every verified Kenneth Mackenzie interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Kenneth MacKenzie, chief executive of Target Fund Managers and Target Healthcare REIT, has continued to promote the fund’s focus on investing in modern, purpose-built care homes with wet rooms in every bedroom. In recent interviews, he stated that the fund’s portfolio has maintained rent cover of 1.9 times, ahead of its underwriting target of 1.6 times, and that nearly 80% of tenant income comes from private-pay residents. He described the fund’s strategy as providing “stable boring long-term income” and noted that over the past five years it has returned 50% to investors, including a consistent 6% annual dividend. MacKenzie has emphasized demographic tailwinds, saying the number of over-85s is expected to double in the next 20–25 years and that 13.4% of that group will require long-term residential care. He argued that being in the private-pay segment is a “long-term secure place” regardless of government policy, and that modern homes are better suited to attract staff. He also highlighted the fund’s physical inspection process, describing a team with “150 manlady years of experience” who visit homes multiple times a year to assess care quality.
“the number of over 85s doubles in the next 20 25 years and on average one and seven and a half of us 13.4% of the over 85s will require long-term residential care so it's it's a a really positive story in terms of our expectations for a long-term demand for what we do.”
“regardless of which government is in place we don't think there will be endless amounts of government money to fund this and so we we have long felt that being in the private pay place was the the long-term secure place for us to be so we're we're miles ahead of the listed competition for that.”
“the number of over 85s doubles in the next 20 25 years and on average one and seven and a half of us 13.4% of the over 85s will require long-term Residential Care so it's it's a really positive story in terms of our expectations for a long-term demand for what we do”
“if you want long stable income 26 years of income in front of you that will have some inflationary increase with an underlying portfolio that has got Tailwinds that are just you know 40 years hence there's an awful lot of elderly people and the other thing to remember is at the moment there are 4 and a half working age...”
“We set out to create a fund that would give a stable boring long-term income source to its investors by investing in modern purpose-built care homes and in particular care homes that had wet rooms across the stock there are quite a lot a lot of care homes in the UK ten or twelve thousand of them four hundred and sevent...”
“Over the last five years the fund has returned a 50% return for its investor community we have set out from the beginning to be paying a 6% dividend which is actually what we've done year-on-year so six times five is thirty percent and twenty percent is capital uplift.”
Target Healthcare REIT (THRL) is the leading listed investor in UK care home real estate. We are a responsible investor in modern, ESG-compliant, purpose-built care homes which are commensurate with modern living and care standards. We partner with high-quality care providers on long leases to provide shareholders with an attractive level of income together with the potential for capital and income growth.
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The eighth episode of our Pivotal People interview series is now live on our YouTube channel, and in this week's edition, Kenneth ...
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