Real Estate

BIREX

Real Estate Securities Fund

Overview

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Performance

Performance

  • Returns

  1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
1.09 9.99 9.71 - 9.69
Benchmark (%) Index: FTSE EPRA/NAREIT United States Index (USD).<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. -1.27 9.04 9.21 - -
Morningstar Category Avg. (%) Real Estate 1.78 8.76 8.73 5.13 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 77/255 32/230 22/203 - -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 2 1 1 - -
Lipper Category Avg. (%) Real Estate Funds 1.08 8.52 8.49 5.16 -
Lipper Ranking Rankings are based on total return excluding sales charges. 87/261 32/229 22/203 - -
Lipper Quartile Rankings are based on total return excluding sales charges. 2 1 1 - -
  YTD 1m 3m 1y 3y 5y 10y Incept. Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund's performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.
3.30 -0.70 -0.12 1.09 33.05 58.91 - 58.91
Benchmark (%) Index: FTSE EPRA/NAREIT United States Index (USD).<br /><br /> Index returns are for illustrative purposes only. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results. 2.27 0.16 0.72 -1.27 29.66 55.34 - -
Morningstar Category Avg. (%) Real Estate 4.16 -0.21 0.76 1.78 28.67 51.96 64.98 -
Lipper Category Avg. (%) Real Estate Funds 3.63 -0.35 0.68 1.08 27.87 50.46 66.55 -


The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Size of Class (Millions) as of Oct 17, 2017 $10.0 M
Size of Fund (Millions) as of Oct 17, 2017 $25.1 M
Share Class launch date Sep 28, 2012
Asset Class Alternative
Morningstar Category Real Estate
Lipper Classification Real Estate Funds
Benchmark Index FTSE EPRA/NAREIT United States Index (USD)
CUSIP 091936583
Number of Holdings as of Sep 29, 2017 38
Max Offer Price as of Oct 17, 2017 $12.98
Open to New Investors Yes
Turnover Percent as of Sep 30, 2017 118%

Portfolio Characteristics

Portfolio Characteristics

Average Market Cap (Millions) The average size of the securities the fund invests in. as of Sep 29, 2017 $14,900.4 M
R-Squared (3y) as of Sep 29, 2017 98.38
Beta (3y) as of Sep 29, 2017 1.00
Best 3-Month Return Over the Last 3 Years 3 months ending Dec 31, 2014 15.35%
Worst 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2016 -10.55%
Standard Deviation (3y) as of Sep 29, 2017 14.98
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

Overall Morningstar Rating for Real Estate Securities Fund, Class Inst, as of Sep 30, 2017 rated against 230 Real Estate Funds.

Lipper Leader

 
Overall Lipper Leaders ratings based on an equal-weighted average of percentile ranks for each measure over 3-, 5-, and 10-year periods (if applicable) and do not take into account the effects of sales charges for these categories (Consistent Return, Preservation, Total Return, Expense, and Tax Efficiency) as of Sep 30, 2017 out of 229, 11,917, 229, 110 and 229 Funds, respectively in Lipper's Real Estate Funds classification.

Holdings

Holdings

as of Sep 29, 2017
Name Weight (%)
SIMON PROPERTY GROUP INC 8.26
AVALONBAY COMMUNITIES INC 5.71
ALEXANDRIA REAL ESTATE EQUITIES INC 4.70
WELLTOWER INC 4.69
HOST HOTELS & RESORTS INC 4.49
Name Weight (%)
EXTRA SPACE STORAGE INC 4.07
BOSTON PROPERTIES INC 3.75
VEREIT INC 3.44
HCP INC 3.21
MID-AMERICA APARTMENT COMMUNITIES INC 3.03

Exposure Breakdowns

Exposure Breakdowns

as of Sep 29, 2017

% of Market Value

Type Fund Benchmark Net
as of Sep 29, 2017

% of Market Value

Type Fund Benchmark Net
as of Sep 29, 2017

% of Market Value

Type Fund Benchmark Net
as of Sep 29, 2017

% of Market Value

Type Fund Benchmark Net
Negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds) and/or the use of certain financial instruments, including derivatives, which may be used to gain or reduce market exposure and/or risk management.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Mark Howard-Johnson, CFA
Global Head of Real Estate Securities Management

     

Rajan Rehan, CFA
Portfolio Manager with the Global Real Assets Securities Group

  

Portfolio Manager

Literature

Literature

 

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