Investment objective & strategy
As of Jan. 25, 2023 · prospectusObjective. The fund has a primary investment objective of long-term capital appreciation with a secondary investment objective of income.
Strategy. The fund provides non-U.S. exposure to the real estate securities market, focusing on owners and operators with recurring rental income. Under normal circumstances, the fund invests at least 80% of its assets in equity securities issued by non-U.S companies of any capitalization that are principally engaged in the real estate industry, including common stock, preferred stock and other equity securities issued by real estate companies, such as real estate investment trusts (REITs) and similar REIT-like entities. The fund may, at times, invest up to 20% of its assets in U.S. REIT securities. Additionally, the fund normally invests in real estate related securities of issuers in developed countries, however it may invest up to 20% of its assets in issuers incorporated … The fund provides non-U.S. exposure to the real estate securities market, focusing on owners and operators with recurring rental income. Under normal circumstances, the fund invests at least 80% of its assets in equity securities issued by non-U.S companies of any capitalization that are principally engaged in the real estate industry, including common stock, preferred stock and other equity securities issued by real estate companies, such as real estate investment trusts (REITs) and similar REIT-like entities. The fund may, at times, invest up to 20% of its assets in U.S. REIT securities. Additionally, the fund normally invests in real estate related securities of issuers in developed countries, however it may invest up to 20% of its assets in issuers incorporated in emerging market countries. The fund concentrates its assets in the real estate industry.
Top holdings
As of Sept. 29, 2023 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MITSUI FUDOSAN | — | $1.16M | 4.90% |
| VONOVIA SE | — | $1.11M | 4.67% |
| CAPITALAND ASCEN | — | $1.09M | 4.59% |
| MITSUBISHI ESTAT | — | $937.21K | 3.94% |
| JAPAN HOTEL REIT | — | $932.87K | 3.92% |
| LINK REIT | — | $868.97K | 3.65% |
| SCENTRE GROUP | — | $850.30K | 3.58% |
| MERLIN PROPERTIE | — | $719.27K | 3.03% |
| Castellum Aktiebolag | CAST | $712.54K | 3.00% |
| NATIONAL STORAGE | — | $670.20K | 2.82% |
Portfolio moves
Jun 30, 2023 → Sep 29, 2023How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Delaware Global Real Estate Fund | 17% | 0.89% |
| Global X Green Building ETF | 13% | 0.45% |
| Neuberger Berman Global Real Estate Fund | 12% | 1.01% |
Footnotes
- Net assets and holdings count as of September 29, 2023, from the fund's N-PORT filing.
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