The fund seeks capital appreciation in the long term and current income by investing in companies across any size in the United States.
The investment process is designed to invest in securities of companies principally engaged in the real estate industry and other real estate related investments.
The investment team considers a company to be principally engaged in the real estate industry if it either derives at least 50% of its revenues from the ownership, construction, financing, management or sale of commercial or residential real estate, or has at least 50% of its assets in real estate or such real estate businesses.
Next, the research team utilizes a value, yield-advantage strategy to identify companies with underlying real estate assets that are trading at a discount to the private market value of such assets.
The team also focuses on companies generating an above-average dividend yield or superior free cash flow.
In addition, the team screens the investable universe on the basis of factors such as valuation, income, and balance sheet metrics.
Then the manager constructs a portfolio from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level.
