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.
-2.99 1.25 6.88 - 7.73
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. -4.38 0.47 5.63 - 7.06
Morningstar Category Avg. (%) Real Estate -2.30 1.26 5.55 5.88 -
Morningstar Ranking Rankings are based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 142/261 89/228 21/198 - -
Morningstar Quartile Rankings based on total return excluding sales charges, independently calculated and not combined to create an overall ranking. 3 2 1 - -
Lipper Category Avg. (%) Real Estate Funds -2.13 1.03 5.49 5.88 -
Lipper Ranking Rankings are based on total return excluding sales charges. 144/261 91/229 23/198 - -
Lipper Quartile Rankings are based on total return excluding sales charges. 3 2 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.
-7.77 3.33 -7.77 -2.99 3.79 39.47 - 50.66
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. -7.78 3.85 -7.78 -4.38 1.43 31.51 - 45.55
Morningstar Category Avg. (%) Real Estate -6.89 3.53 -6.89 -2.30 3.81 31.02 77.02 -
Lipper Category Avg. (%) Real Estate Funds -6.71 3.36 -6.71 -2.13 3.23 30.86 78.06 -
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 Jun 22, 2018 $7.8 M
Size of Fund (Millions) as of Jun 22, 2018 $21.0 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 Apr 30, 2018 37
Max Offer Price as of Jun 22, 2018 $12.17
Open to New Investors Yes
Turnover Percent as of May 31, 2018 103%

Portfolio Characteristics

Portfolio Characteristics

Average Market Cap (Millions) The average size of the securities the fund invests in. as of May 31, 2018 $ 14,203.6 M
R-Squared (3y) as of Mar 31, 2018 98.18
Beta (3y) as of Mar 31, 2018 0.99
Best 3-Month Return Over the Last 3 Years 3 months ending Jul 31, 2016 13.87%
Worst 3-Month Return Over the Last 3 Years 3 months ending Oct 31, 2016 -10.55%
Standard Deviation (3y) as of Mar 31, 2018 13.73
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Ratings

Ratings

Morningstar Rating

4
Overall Morningstar Rating for Real Estate Securities Fund, Class Inst, as of May 31, 2018 rated against 232 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 Apr 30, 2018 out of 230, 11,857, 230, 111 and 230 Funds, respectively in Lipper's Real Estate Funds classification.

Holdings

Holdings

as of May 31, 2018
Name Weight (%)
SIMON PROPERTY GROUP INC 8.22
AVALONBAY COMMUNITIES INC 6.06
BOSTON PROPERTIES INC 6.01
HOST HOTELS & RESORTS INC 5.70
ALEXANDRIA REAL ESTATE EQUITIES INC 4.49
Name Weight (%)
EXTRA SPACE STORAGE INC 4.24
CARETRUST REIT INC 3.76
VEREIT INC 3.51
INVITATION HOMES INC 3.49
LIBERTY PROPERTY TRUST 3.25

Exposure Breakdowns

Exposure Breakdowns

as of May 31, 2018

% of Market Value

Type Fund Benchmark Net
as of May 31, 2018

% of Market Value

Type Fund Benchmark Net
as of May 31, 2018

% of Market Value

Type Fund Benchmark Net
as of May 31, 2018

% 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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