Fund description
The Fund invests in income-producing equities of companies engaged in the real estate industry. Applying a fundamentally based, relative value process, the investment team diversifies across geographies and sectors of listed global commercial real estate.
The Fund is actively managed and is not managed in reference to a benchmark. Investors invest in shares of the Fund. The Fund is suitable for long-term investors that are prepared to accept a moderate to high level of volatility. Please see the Key Investor Information Document(s) for more information.
Investment process
Select securities through bottom-up fundamental research to identify companies in the real estate industry that it believes meet one or more of the following criteria:
- Attractively valued relative to other companies in the real estate industry
- Strong fundamentals, including consistent cash flows or growth and a sound balance sheet
- Strong management teams
- An identifiable catalyst that could increase the value of the company’s stock over the next one or two years
An investment in the Fund is subject, among other risks, to market risk or the risk that stocks in the portfolio will decline in response to such factors as adverse company news or industry developments or a general economic decline. Concentration in specific sectors such as infrastructure-related securities may involve greater risk and volatility than more diversified investments including greater exposure to adverse economic regulatory, political, legal and other changes affecting such securities. Dividends are not guaranteed. Securities investments in certain markets present additional risks, including currency fluctuation, political and economic instability, lack of liquidity, and differing legal and accounting standards. These risks are magnified in emerging markets. Stocks of small- and mid-cap companies often experience sharper fluctuations than stocks of large-cap companies. The potential use of derivatives involves a high degree of financial risk, including the risk that the loss on a derivative may be greater than the principal amount invested. There is no guarantee that the Fund will meet its investment objective. Past performance is not a reliable guide to future performance.
