For Financial Professionals in the US

JERIX Global Real Estate Fund

Our team of real estate experts combines a boots-on-the-ground presence with in-depth market knowledge, seeking to create a truly active, high-conviction portfolio.

NAV
$10.52
As of 09/28/2023

1-Day Change
$0.05 (0.48%)
 As of 09/28/2023

YTD Return
-5.42%
As of 09/28/2023

Morningstar Rating

As of 08/31/2023

Overview

ABOUT THIS FUND

A global equity fund that seeks to provide investors total returns – both capital appreciation and current income – associated with global real estate growth and development. The Fund seeks to own a portfolio of the most compelling real estate equities listed on regulated exchanges throughout the world. These companies will derive the main part of their revenue from the ownership, management and/or development of real estate. Our strategy is long only with the objective of producing strong relative performance while providing genuine exposure to global real estate fundamentals and managing risk by being benchmark aware.

WHY INVEST IN THIS FUND

Multi-Local Presence
Fund managers and analysts based in Europe, Asia and North America provide valuable local expertise in stock selection. Regional investment processes are tailored to each market.

Risk-Aware, Active Management
The portfolio managers take an active approach, emphasizing qualitative considerations, in-depth company research and quantitative projections.

High Conviction, All-Cap Portfolio
A “best ideas” stock portfolio selected from a wide universe, seeking to add value across the market-cap spectrum.

 

GLOBAL REAL ESTATE INVESTING WITH CONVICTION

Decomposition of sources of active risk vs FTSE EPRA NAREIT Global Index

Global Real Estate Fund Graph Q2 2023

 

PORTFOLIO MANAGEMENT

Guy Barnard, CFA

Guy Barnard, CFA

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2003. Joined Firm in 2006.

Tim Gibson

Tim Gibson

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2001. Joined Firm in 2011.

Greg Kuhl, CFA

Greg Kuhl, CFA

Portfolio Manager

Industry since 2005. Joined Firm in 2015.

Performance

RETURNS (%) (As of 08/31/2023)
Global Real Estate Fund - Class I Shares FTSE EPRA Nareit Global Index FTSE EPRA Nareit Global Net Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(11/28/2007)
Global Real Estate Fund - Class I Shares 3.64 1.86 -5.17 -0.55 2.69 5.90 4.72
FTSE EPRA Nareit Global Index 3.65 1.35 -4.18 1.41 -0.11 3.80 2.33
FTSE EPRA Nareit Global Net Index 3.37 0.73 -5.12 0.53 -0.97 2.93 -
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

RETURNS (%) (As of 06/30/2023)
Global Real Estate Fund - Class I Shares FTSE EPRA Nareit Global Index FTSE EPRA Nareit Global Net Index
 
3M YTD 1YR 3YR 5YR 10YR Since Inception
(11/28/2007)
Global Real Estate Fund - Class I Shares -0.18 0.96 -5.39 1.86 2.87 5.48 4.71
FTSE EPRA Nareit Global Index 0.32 1.08 -3.93 3.04 0.16 3.41 2.34
FTSE EPRA Nareit Global Net Index 0.04 0.55 -4.85 2.14 -0.71 2.55 -
Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold.
Performance for Class I Shares that includes periods prior to 7/6/09 reflects the performance of one or more share classes of the Fund or a predecessor fund, adjusted, where applicable and permitted, for differing fees and expenses. See the Fund’s prospectus for further details.

Returns include reinvestment of dividends and capital gains. Returns greater than one year are annualized.

Calendar Year Returns (%)
Global Real Estate Fund - Class I Shares FTSE EPRA Nareit Global Index
2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Global Real Estate Fund - Class I Shares -25.23 22.40 1.39 30.88 -3.13 17.72 3.50 -1.94 14.23 6.65
FTSE EPRA Nareit Global Index -23.58 23.04 -9.16 23.58 -5.55 15.01 4.62 -0.41 14.73 2.24

MORNINGSTAR PERCENTILE

(As Of 06/30/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 68 74 11 4 3
Global Real Estate | Rank/Count 141/196 146/184 31/184 10/151 5/106
(As Of 08/31/2023)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 67 78 11 4 2
Global Real Estate | Rank / Count 129/195 152/183 29/183 11/151 4/106

RETURNS-BASED STATISTICS (As of 08/31/2023 Class I Shares)

RISK / REWARD
VS. FTSE EPRA/NAREIT Global Index		 3YR 5YR
Information Ratio -0.56 0.58
Alpha -1.94 2.51
Tracking Error 3.44 4.79
Beta 0.97 0.91
R-squared (%) 96.15 94.61
UP/DOWN MARKET CAPTURE (%)
VS. FTSE EPRA/NAREIT Global Index		 3YR 5YR
Up Capture Ratio 96.07 100.57
Down Capture Ratio 103.08 91.96
STANDARD DEVIATION 3YR 5YR
Global Real Estate Fund 18.31 18.21
FTSE EPRA/NAREIT Global Index 18.55 19.42
SHARPE RATIO 3YR 5YR
Global Real Estate Fund -0.12 0.06
FTSE EPRA/NAREIT Global Index -0.01 -0.09
ANNUAL FEES & EXPENSES (As of the most recent prospectus)
CLASS I SHARES
Management Fees 0.86%
Other Expenses 0.17%
Total Gross Expenses 1.03%
Waivers 0.00%
Total Net Expenses 1.03%
Net expense ratios reflect the expense waiver, if any, contractually agreed to for at least a one-year period commencing on January 27, 2023. This contractual waiver may be terminated or modified only at the discretion of the Board of Trustees.

Portfolio

Index represents the FTSE EPRA Nareit Global Net Index.

Top Holdings (As of 08/31/2023)
% of Fund
Prologis Inc 8.76
Equinix Inc 5.65
VICI Properties Inc 4.92
Mitsui Fudosan Co Ltd 3.89
Welltower Inc 3.51
Camden Property Trust 3.49
Americold Realty Trust Inc 3.05
UDR Inc 3.03
NNN REIT Inc 2.98
Agree Realty Corp 2.89
Total 42.17
View full holdings
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)
Regional Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)
Market Capitalization Range of Equity Holdings % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)
Developed vs Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 08/31/2023)

Documents

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