The fund seeks total return by investing in high quality public real estate investment trusts (REITs) in the U.S. and real estate operating companies that can be identified as having attractive cash flow, assets and management characteristics. Returns are expected to come from a combination of current income (dividends) and long-term growth of capital.
Objective: The fund seeks income with capital appreciation as a secondary goal
|Aug'171||Q22||YTD2||1 YR2||3 YR2||5 YR2||10 YR2||
|Class A NAV*||-3.51||-0.16||-1.46||1.66||6.91||8.51||—||15.01|
|Class A MOP**||-9.07||-5.93||-7.14||-4.21||4.81||7.24||—||14.16|
|Class C NAV†||-3.64||-0.30||-1.73||1.14||6.29||7.91||—||14.28|
|Class C MOP‡||-4.60||-1.30||-2.70||0.35||6.29||7.91||—||14.28|
|S&P 500 Index||0.31||3.09||9.34||17.90||9.61||14.63||7.18||—|
|FTSE NAREIT Equity REITs Index||-0.25||1.52||2.70||-1.70||8.36||9.52||6.00||—|
1. As of 08/31/2017
2. As of 06/30/2017
Returns for periods greater than one year are annualized.
* Excludes sales charge.
** Reflects effects of the fund’s maximum sales charge of5.75%.
† Excludes the effects of the 1% contingent deferred sales charge.
‡ Includes the effects of the 1% contingent deferred sales charge.
The performance quoted represents past performance, does not guarantee future results and current performance may be lower or higher than the data quoted. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance data current to the most recent month end may be obtained on this website. Investment performance reflects fee waivers in effect. In the absence of fee waivers, total return would be lower. Total return is based on NAV, assuming reinvestment of all distributions. Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
|S&P 500 Index||11.96||1.38||13.69||32.39||16.00||2.11||15.06||26.46||-37.00||5.49|
|FTSE NAREIT Equity REITs Index||8.52||3.20||30.14||2.47||18.06||8.29||27.96||27.99||-37.73||-15.69|
*** This chart illustrates the performance of a hypothetical $10,000 investment made in the fund on the commencement of its operations and assumes no additional deposits or withdrawals were made to the fund and assumes reinvestment of dividends and capital gains. This chart is not intended to imply any future performance of the fund. The chart does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
|Investor||30-DAY SEC YIELD (%) (REIT ROC Adjusted)||2.52|
|Investor||30-DAY SEC YIELD (UNSUBSIDIZED) (%)||—|
|Institutional||30-DAY SEC YIELD (%) (REIT ROC Adjusted)||2.86|
|Institutional||30-DAY SEC YIELD (UNSUBSIDIZED) (%)||—|
|Class A||DIVIDEND YIELD||0.98|
|Class A||30-DAY SEC YIELD (%) (REIT ROC Adjusted)||2.33|
|Class A||30-DAY SEC YIELD (UNSUBSIDIZED) (%)||—|
|Class C||DIVIDEND YIELD||0.67|
|Class C||30-DAY SEC YIELD (%) (REIT ROC Adjusted)||1.87|
|Class C||30-DAY SEC YIELD (UNSUBSIDIZED) (%)||—|
Past performance does not guarantee future results.
|A||Colony NorthStar, Inc.||4.65|
|B||Jernigan Capital, Inc.||2.87|
|C||Paramount Group, Inc.||2.78|
|D||AvalonBay Communities, Inc.||2.69|
|E||CoreSite Realty Corp.||2.69|
|F||Kite Realty Group Trust||2.62|
|G||Chatham Lodging Trust||2.61|
|H||SL Green Realty Corp.||2.57|
|I||Vornado Realty Trust||2.57|
|J||Ashford Hospitality Prime, Inc.||2.56|
These holdings may not reflect the current or future positions in the portfolio.
These allocations may not reflect the current or future positions in the portfolio. Percentages may not add to 100% due to rounding.
Source: Morningstar. Data since inception (05/01/08 through 6/30/17).
Corporate Bonds- Citi U.S. BIG Index; Government Bonds- Barclays U.S. Treasury Index; Large Cap Stocks- S&P 500 Index; Small Cap Stocks- Russell 2000 Index
|Annual Portfolio turnover||81%|
|# of holdings||55|
|Share Class||Type||Record Date||Distribution
You should consider a fund’s investment objectives, risks, charges and expenses carefully before investing. A prospectus with this and other information may be obtained by calling (800) 999-6809 or by downloading one from this website. It should be read carefully before investing.
There are risks involved with investing, including loss of principal. Past performance does not guarantee future results, share prices will fluctuate and you may have a gain or loss when you redeem shares.
Concentration in a particular industry will involve a greater degree of risk than a more diversified portfolio.
Debt securities are subject to interest rate risk. If interest rates increase, the value of debt securities generally declines. Debt securities with longer durations tend to be more sensitive to changes in interest rates and more volatile than securities with shorter durations.
Investing in a non-diversified fund involves the risk of greater price fluctuation than a more diversified portfolio.
Investing in the real estate industry or in real estate-related securities involves the risks associated with direct ownership of real estate which include, among other things, changes in economic conditions (e.g., interest rates), the macro real estate development market, government intervention (e.g., property taxes) or environmental disasters. These risks may also affect the value of equities that service the real estate sector.
There is no guarantee the companies in our portfolio will continue to pay dividends.
30-Day SEC Yield (REIT ROC Adjusted) is based on a 30-day period and is computed by dividing the net investment income per share earned during the period by the maximum offering price per share on the last day of the period. The 30-Day SEC Yield has been adjusted for REIT investment return of capital.
30-Day Unsubsidized SEC Yield is computed by dividing the net investment income per share earned during the period, excluding expense waivers or reimbursements, by the maximum offering price per share on the last day of the period.
Barclays U.S. Treasury Bond Index measures the public obligations of the U.S. Treasury with a remaining maturity of one year or more.
Beta is a measure of risk which shows a fund’s volatility relative to its benchmark index.
Cash flow is a revenue or expense stream that changes a cash account over a given period.
Citigroup U.S. Broad Investment-Grade Bond Index is an unmanaged index generally representative of the performance of investment-grade corporate and U.S. government bonds.
Correlation is a statistical measure of the interdependence of two random variables that range in value from -1 to +1, indicating perfect negative correlation at -1, absence of correlation at zero and perfect positive correlation at +1.
FTSE NAREIT Equity REITs Index is representative of the tax-qualified REITs listed on the New York Stock Exchange, the American Stock Exchange and the NASDAQ National Market. One cannot invest directly in an index.
Russell 2000 Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index. The Russell 3000 Index represents approximately 98% of the investable U.S. equity market.
S&P 500 Index is an unmanaged index of 500 common stocks chosen to reflect the industries in the U.S. economy.
Standard deviation measures the degree to which a fund’s return varies from its previous returns or from the average of all similar funds.
One cannot invest directly in an index.
Performance figures and other portfolio data shown for periods prior to March 1, 2010, do not reflect the current manager’s performance or strategy.