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
$12.21
As of 09/29/2020

1-Day Change
-$0.11 (-0.89%)
As of 09/29/2020

YTD Return
-7.17%
As of 09/29/2020

Morningstar Rating

As of 08/31/2020

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.

PORTFOLIO MANAGEMENT

Guy Barnard, CFA

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2003. Joined Firm in 2006.

Greg Kuhl, CFA

Portfolio Manager

Industry since 2005. Joined Firm in 2015.

Tim Gibson

Co-Head of Global Property Equities | Portfolio Manager

Industry since 2001. Joined Firm in 2011.

Performance

MORNINGSTAR PERCENTILE

(As Of 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 4 2 3 9 1
Global Real Estate Category|Rank/Count 11/215 5/206 7/190 20/153 2/129
(As Of 08/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 7 2 2 6 1
Global Real Estate Category|Rank/Count 15/204 6/195 5/189 14/142 2/118

RETURNS-BASED STATISTICS (As of 08/31/2020 Class I Shares)

RISK / REWARD
VS. FTSE EPRA Nareit Global Net Index
3YR 5YR
Information Ratio 1.78 0.94
Alpha 7.76 4.74
Tracking Error 4.47 4.68
Beta 0.85 0.87
R-squared (%) 94.57 91.12
UP/DOWN MARKET CAPTURE (%)
VS. FTSE EPRA Nareit Global Net Index
3YR 5YR
Up Capture Ratio 107.86 97.84
Down Capture Ratio 68.24 71.73
STANDARD DEVIATION 3YR 5YR
Global Real Estate Fund 15.52 14.09
FTSE EPRA Nareit Global Net Index 17.74 15.53
SHARPE RATIO 3YR 5YR
Global Real Estate Fund 0.42 0.54
FTSE EPRA Nareit Global Net Index -0.13 0.14
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS I SHARES
Management Fees 0.85%
12b-1 Fees -
Other Expenses 0.25%
Total Gross Expenses 1.10%
Waivers 0.00%
Total Net Expenses 1.10%

Portfolio

Top Holdings (As of 08/31/2020)
% of Fund
Prologis Inc 6.15
VICI Properties Inc 3.31
Deutsche Wohnen SE 3.28
Sun Communities Inc 3.10
Invitation Homes Inc 2.93
China Resources Land Ltd 2.70
Rexford Industrial Realty Inc 2.71
Alexandria Real Estate Equities Inc 2.65
Duke Realty Corp 2.61
Mitsui Fudosan Co Ltd 2.59
Total 32.03
View full holdings
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2020)
Real Estate 92.27 99.62
Information Technology 2.64 -
Consumer Discretionary 1.76 0.27
Industrials 0.67 -
Communication Services 0.64 -
Cash & Equivalents 2.02 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
North America 50.23 50.31
Asia/Pacific Ex Japan 20.25 20.73
Europe 17.22 16.81
Japan 10.28 10.43
Cash & Equivalents 2.02 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of August 31, 2020)
Over $100B 1.88
$50B to $100B 6.14 4.76
$10B to $50B 48.42 42.49
$5B to $10B 19.90 22.10
$1B to $5B 20.95 27.51
$250M to $500M 0.69 0.57
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of August 31, 2020)
U.S. 47.50 47.81
Non-U.S. Developed 41.78 41.93
Non-U.S. Emerging 8.70 10.26
Cash & Equivalents 2.02 -

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