Institutional Realty Shares
The investment objective of the Fund is to achieve total return through investment in real estate securities.
Strong historical returns
Since the start of the modern REIT era in 1991, listed real estate has delivered strong absolute and relative returns compared to stocks and bonds
Attractive income with growth potential
REITs tend to pay attractive dividends, offering an alternative source of income
Diversification
REITs have historically helped to enhance portfolio efficiency over full cycles, providing strong, low-correlated returns relative to stocks and bonds
Institutional Realty Shares
Total Net Assets
$7.7 B
YTD Returns
12.57%
SEC Yield
2.05%
Distribution Yield
2.80%
No. of Holdings
32
Gross Expense Ratio
0.76%
Net Expense Ratio
0.75%
Inception Date
2/14/00
(At 8/31/24)
Top Holdings
June 30, 2024
| Name | Sectors | % of Market Value |
|---|---|---|
| American Tower Corporation | Telecommunications | 9.7% |
| Welltower Inc. | Health Care | 8.9% |
| Prologis Inc. | Industrial | 8.3% |
| Digital Realty Trust Inc. | Data Centers | 7.6% |
| Simon Property Group Inc. | Regional Mall | 6.4% |
| Crown Castle International Corp. | Telecommunications | 5.6% |
| Iron Mountain Incorporated | Specialty | 4.8% |
| Invitation Homes Inc | Single Family Homes | 4.7% |
| Equinix Inc. | Data Centers | 4.1% |
| Sun Communities Inc. | Manufactured Home | 3.2% |
PORTFOLIO MANAGERS
Morningstar rating
August 31, 2024
| Name | Rating | Category | Funds in category |
|---|---|---|---|
| Overall | Real Estate | 224 | |
| Three year | Real Estate | 224 | |
| Five year | Real Estate | 209 | |
| Ten year | Real Estate | 152 |
LITERATURE
Total Returns (I Share Class)
| Period | Fund | Linked Index | S&P 500 Index |
|---|---|---|---|
| YTD | 12.57% | 10.73% | 19.53% |
| 1 Year | 21.47% | 21.44% | 27.14% |
| 3 Year | 1.45% | 0.38% | 9.38% |
| 5 Year | 6.09% | 4.82% | 15.91% |
| 10 Year | 8.18% | 6.70% | 12.98% |
| Since Inception (2/14/00) | 11.00% | 10.14% | 7.89% |
YTD
Fund
12.57%Linked Index
10.73%S&P 500 Index
19.53%1 Year
Fund
21.47%Linked Index
21.44%S&P 500 Index
27.14%3 Year
Fund
1.45%Linked Index
0.38%S&P 500 Index
9.38%5 Year
Fund
6.09%Linked Index
4.82%S&P 500 Index
15.91%10 Year
Fund
8.18%Linked Index
6.70%S&P 500 Index
12.98%Since Inception (2/14/00)
Fund
11.00%Linked Index
10.14%S&P 500 Index
7.89%Total Returns (I Share Class)
| Period | Fund | Linked Index | S&P 500 Index |
|---|---|---|---|
| YTD | 0.17% | -2.19% | 15.29% |
| QTD | 0.66% | -0.90% | 4.28% |
| 1 Year | 6.89% | 5.78% | 24.56% |
| 3 Year | -0.13% | -1.63% | 10.01% |
| 5 Year | 5.30% | 3.40% | 15.04% |
| 10 Year | 7.19% | 5.70% | 12.86% |
| Since Inception (2/14/00) | 10.55% | 9.66% | 7.79% |
YTD
Fund
0.17%Linked Index
-2.19%S&P 500 Index
15.29%QTD
Fund
0.66%Linked Index
-0.90%S&P 500 Index
4.28%1 Year
Fund
6.89%Linked Index
5.78%S&P 500 Index
24.56%3 Year
Fund
-0.13%Linked Index
-1.63%S&P 500 Index
10.01%5 Year
Fund
5.30%Linked Index
3.40%S&P 500 Index
15.04%10 Year
Fund
7.19%Linked Index
5.70%S&P 500 Index
12.86%Since Inception (2/14/00)
Fund
10.55%Linked Index
9.66%S&P 500 Index
7.79%View: Sector Diversification Geographic Diversification
Sector Diversification
As of June 30, 2024
| Sector | % of Fund | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Telecommunications | 15.92% | 12.39% | +3.53% |
| Health Care | 12.47% | 11.85% | +0.62% |
| Data Centers | 11.69% | 9.66% | +2.03% |
| Industrial | 10.53% | 12.31% | -1.78% |
| Apartment | 6.67% | 9.93% | -3.26% |
| Regional Mall | 6.36% | 4.23% | +2.13% |
| Single Family Homes | 6.22% | 2.76% | +3.46% |
| Self Storage | 4.96% | 7.28% | -2.32% |
| Specialty | 4.8% | 3.49% | +1.31% |
| Manufactured Home | 3.6% | 2.23% | +1.37% |
| Hotel | 3.23% | 2.75% | +0.48% |
| Gaming | 3.21% | 3.33% | -0.12% |
| Free Standing | 3.21% | 5.55% | -2.34% |
| Shopping Center | 2.07% | 5.09% | -3.02% |
| Timberland | 1.66% | 2.25% | -0.59% |
| Office | 1.6% | 3.14% | -1.54% |
| Cash | 1.44% | - | +1.44% |
| Diversified | 0.36% | 1.78% | -1.42% |
Telecommunications
% of Fund
15.92%% of Benchmark
12.39%% Underweight/Overweight
3.53%Health Care
% of Fund
12.47%% of Benchmark
11.85%% Underweight/Overweight
0.62%Data Centers
% of Fund
11.69%% of Benchmark
9.66%% Underweight/Overweight
2.03%Industrial
% of Fund
10.53%% of Benchmark
12.31%% Underweight/Overweight
-1.78%Apartment
% of Fund
6.67%% of Benchmark
9.93%% Underweight/Overweight
-3.26%Regional Mall
% of Fund
6.36%% of Benchmark
4.23%% Underweight/Overweight
2.13%Single Family Homes
% of Fund
6.22%% of Benchmark
2.76%% Underweight/Overweight
3.46%Self Storage
% of Fund
4.96%% of Benchmark
7.28%% Underweight/Overweight
-2.32%Specialty
% of Fund
4.8%% of Benchmark
3.49%% Underweight/Overweight
1.31%Manufactured Home
% of Fund
3.6%% of Benchmark
2.23%% Underweight/Overweight
1.37%Hotel
% of Fund
3.23%% of Benchmark
2.75%% Underweight/Overweight
0.48%Gaming
% of Fund
3.21%% of Benchmark
3.33%% Underweight/Overweight
-0.12%Free Standing
% of Fund
3.21%% of Benchmark
5.55%% Underweight/Overweight
-2.34%Shopping Center
% of Fund
2.07%% of Benchmark
5.09%% Underweight/Overweight
-3.02%Timberland
% of Fund
1.66%% of Benchmark
2.25%% Underweight/Overweight
-0.59%Office
% of Fund
1.6%% of Benchmark
3.14%% Underweight/Overweight
-1.54%Cash
% of Fund
1.44%% of Benchmark
0%% Underweight/Overweight
1.44%Diversified
% of Fund
0.36%% of Benchmark
1.78%% Underweight/Overweight
-1.42%Geographic Diversification
As of June 30, 2024
| Sector | % of Fund | % of Benchmark | % Underweight/Overweight |
|---|---|---|---|
| Pacific | 21% | - | % |
| Mid Atlantic | 19% | - | % |
| South Atlantic | 17% | - | % |
| Mountain | 12% | - | % |
| Southwest Central | 11% | - | % |
| Northeast Central | 10% | - | % |
| Southeast Central | 4% | - | % |
| New England | 3% | - | % |
| Northwest Central | 3% | - | % |
Pacific
% of Fund
21%% of Benchmark
%% Underweight/Overweight
%Mid Atlantic
% of Fund
19%% of Benchmark
%% Underweight/Overweight
%South Atlantic
% of Fund
17%% of Benchmark
%% Underweight/Overweight
%Mountain
% of Fund
12%% of Benchmark
%% Underweight/Overweight
%Southwest Central
% of Fund
11%% of Benchmark
%% Underweight/Overweight
%Northeast Central
% of Fund
10%% of Benchmark
%% Underweight/Overweight
%Southeast Central
% of Fund
4%% of Benchmark
%% Underweight/Overweight
%New England
% of Fund
3%% of Benchmark
%% Underweight/Overweight
%Northwest Central
% of Fund
3%% of Benchmark
%% Underweight/Overweight
%Distribution Information
This fund intends to make quarterly distributions.
| Pay Date | Record Date | Ex-Dividend Date | Type | Amount/Share |
|---|---|---|---|---|
| 6/28/24 | 6/27/24 | 6/28/24 | Regular | $0.392 |
| 3/28/24 | 3/27/24 | 3/28/24 | Regular | $0.334 |
| 12/7/23 | 12/6/23 | 12/7/23 | Regular | $0.408 |
| 9/29/23 | 9/28/23 | 9/29/23 | Regular | $0.305 |
| 6/30/23 | 6/29/23 | 6/30/23 | Regular | $0.374 |
| 3/31/23 | 3/30/23 | 3/31/23 | Regular | $0.324 |
| 12/8/22 | 12/7/22 | 12/8/22 | Regular | $0.984 |
| 9/30/22 | 9/29/22 | 9/30/22 | Regular | $0.305 |
| 6/30/22 | 6/29/22 | 6/30/22 | Regular | $0.544 |
| 3/31/22 | 3/30/22 | 3/31/22 | Regular | $0.266 |
| 12/9/21 | 12/8/21 | 12/9/21 | Regular | $1.638 |
| 9/30/21 | 9/29/21 | 9/30/21 | Regular | $0.249 |
| 6/30/21 | 6/29/21 | 6/30/21 | Regular | $0.209 |
| 3/31/21 | 3/30/21 | 3/31/21 | Regular | $0.196 |
| 12/10/20 | 12/9/20 | 12/10/20 | Regular | $0.377 |
| 9/30/20 | 9/29/20 | 9/30/20 | Regular | $0.258 |
| 6/30/20 | 6/29/20 | 6/30/20 | Regular | $1.214 |
| 3/31/20 | 3/30/20 | 3/31/20 | Regular | $0.277 |
| 12/18/19 | 12/17/19 | 12/18/19 | Regular | $0.311 |
| 11/5/19 | 11/4/19 | 11/5/19 | Regular | $1.757 |
| 9/30/19 | 9/27/19 | 9/30/19 | Regular | $0.294 |
| 6/28/19 | 6/27/19 | 6/28/19 | Regular | $2.279 |
| 3/29/19 | 3/28/19 | 3/29/19 | Regular | $0.361 |
| 12/6/18 | 12/4/18 | 12/6/18 | Regular | $0.969 |
| 9/28/18 | 9/27/18 | 9/28/18 | Regular | $0.461 |
| 6/29/18 | 6/28/18 | 6/29/18 | Regular | $0.767 |
| 3/29/18 | 3/28/18 | 3/29/18 | Regular | $0.288 |
| 12/6/17 | 12/5/17 | 12/6/17 | Regular | $2.036 |
| 9/29/17 | 9/28/17 | 9/29/17 | Regular | $0.287 |
| 6/30/17 | 6/29/17 | 6/30/17 | Regular | $0.341 |
| 3/31/17 | 3/30/17 | 3/31/17 | Regular | $0.358 |
| 12/8/16 | 12/7/16 | 12/8/16 | Regular | $3.887 |
| 9/30/16 | 9/29/16 | 9/30/16 | Regular | $0.312 |
| 6/30/16 | 6/29/16 | 6/30/16 | Regular | $0.954 |
| 3/31/16 | 3/30/16 | 3/31/16 | Regular | $0.294 |
| Pay Date | Record Date | Ex-Dividend Date |
|---|---|---|
| 6/28/24 | 6/27/24 | 6/28/24 |
|
Type Regular |
Amount/Share 0.392 |
|
| 3/28/24 | 3/27/24 | 3/28/24 |
|
Type Regular |
Amount/Share 0.334 |
|
| 12/7/23 | 12/6/23 | 12/7/23 |
|
Type Regular |
Amount/Share 0.408 |
|
| 9/29/23 | 9/28/23 | 9/29/23 |
|
Type Regular |
Amount/Share 0.305 |
|
| 6/30/23 | 6/29/23 | 6/30/23 |
|
Type Regular |
Amount/Share 0.374 |
|
| 3/31/23 | 3/30/23 | 3/31/23 |
|
Type Regular |
Amount/Share 0.324 |
|
| 12/8/22 | 12/7/22 | 12/8/22 |
|
Type Regular |
Amount/Share 0.984 |
|
| 9/30/22 | 9/29/22 | 9/30/22 |
|
Type Regular |
Amount/Share 0.305 |
|
| 6/30/22 | 6/29/22 | 6/30/22 |
|
Type Regular |
Amount/Share 0.544 |
|
| 3/31/22 | 3/30/22 | 3/31/22 |
|
Type Regular |
Amount/Share 0.266 |
|
| 12/9/21 | 12/8/21 | 12/9/21 |
|
Type Regular |
Amount/Share 1.638 |
|
| 9/30/21 | 9/29/21 | 9/30/21 |
|
Type Regular |
Amount/Share 0.249 |
|
| 6/30/21 | 6/29/21 | 6/30/21 |
|
Type Regular |
Amount/Share 0.209 |
|
| 3/31/21 | 3/30/21 | 3/31/21 |
|
Type Regular |
Amount/Share 0.196 |
|
| 12/10/20 | 12/9/20 | 12/10/20 |
|
Type Regular |
Amount/Share 0.377 |
|
| 9/30/20 | 9/29/20 | 9/30/20 |
|
Type Regular |
Amount/Share 0.258 |
|
| 6/30/20 | 6/29/20 | 6/30/20 |
|
Type Regular |
Amount/Share 1.214 |
|
| 3/31/20 | 3/30/20 | 3/31/20 |
|
Type Regular |
Amount/Share 0.277 |
|
| 12/18/19 | 12/17/19 | 12/18/19 |
|
Type Regular |
Amount/Share 0.311 |
|
| 11/5/19 | 11/4/19 | 11/5/19 |
|
Type Regular |
Amount/Share 1.757 |
|
| 9/30/19 | 9/27/19 | 9/30/19 |
|
Type Regular |
Amount/Share 0.294 |
|
| 6/28/19 | 6/27/19 | 6/28/19 |
|
Type Regular |
Amount/Share 2.279 |
|
| 3/29/19 | 3/28/19 | 3/29/19 |
|
Type Regular |
Amount/Share 0.361 |
|
| 12/6/18 | 12/4/18 | 12/6/18 |
|
Type Regular |
Amount/Share 0.969 |
|
| 9/28/18 | 9/27/18 | 9/28/18 |
|
Type Regular |
Amount/Share 0.461 |
|
| 6/29/18 | 6/28/18 | 6/29/18 |
|
Type Regular |
Amount/Share 0.767 |
|
| 3/29/18 | 3/28/18 | 3/29/18 |
|
Type Regular |
Amount/Share 0.288 |
|
| 12/6/17 | 12/5/17 | 12/6/17 |
|
Type Regular |
Amount/Share 2.036 |
|
| 9/29/17 | 9/28/17 | 9/29/17 |
|
Type Regular |
Amount/Share 0.287 |
|
| 6/30/17 | 6/29/17 | 6/30/17 |
|
Type Regular |
Amount/Share 0.341 |
|
| 3/31/17 | 3/30/17 | 3/31/17 |
|
Type Regular |
Amount/Share 0.358 |
|
| 12/8/16 | 12/7/16 | 12/8/16 |
|
Type Regular |
Amount/Share 3.887 |
|
| 9/30/16 | 9/29/16 | 9/30/16 |
|
Type Regular |
Amount/Share 0.312 |
|
| 6/30/16 | 6/29/16 | 6/30/16 |
|
Type Regular |
Amount/Share 0.954 |
|
| 3/31/16 | 3/30/16 | 3/31/16 |
|
Type Regular |
Amount/Share 0.294 |
Estimated Sources of Distribution
| Pay Date | Class | Per Share Distribution | Net Investment Income | Return Of Capital | Long Term Gain | Short Term Gain |
|---|---|---|---|---|---|---|
| 6/28/24 | Single | $0.392 | $0.311 | $0.081 | $0 | $0 |
| 3/28/24 | Single | $0.334 | $0.246 | $0.088 | $0 | $0 |
| 12/7/23 | Single | $0.408 | $0.329 | $0.079 | $0 | $0 |
| 9/29/23 | Single | $0.305 | $0.224 | $0.081 | $0 | $0 |
| 6/30/23 | I | $0.374 | $0.28 | $0.094 | $0 | $0 |
| 3/31/23 | I | $0.324 | $0.222 | $0.102 | $0 | $0 |
| 12/8/22 | I | $0.984 | $0.364 | $0.12 | $0.5 | $0 |
| 9/30/22 | I | $0.305 | $0.194 | $0.111 | $0 | $0 |
| 6/30/22 | I | $0.544 | $0.216 | $0.099 | $0.229 | $0 |
| 3/31/22 | I | $0.266 | $0.104 | $0.162 | $0 | $0 |
| 12/9/21 | I | $1.638 | $0.215 | $0.112 | $1.311 | $0 |
| 9/30/21 | I | $0.249 | $0.168 | $0.081 | $0 | $0 |
| 6/30/21 | I | $0.209 | $0.13 | $0.079 | $0 | $0 |
| 3/31/21 | I | $0.196 | $0.115 | $0.081 | $0 | $0 |
| 12/10/20 | I | $0.377 | $0.266 | $0.111 | $0 | $0 |
| 9/30/20 | I | $0.258 | $0.191 | $0.067 | $0 | $0 |
| 6/30/20 | I | $1.214 | $0.198 | $0.07 | $0.946 | $0 |
| 3/31/20 | I | $0.277 | $0.208 | $0.069 | $0 | $0 |
| 12/18/19 | I | $0.311 | $0.199 | $0.112 | $0 | $0 |
| 11/5/19 | I | $1.757 | $0 | $0 | $0.9 | $0.857 |
| 9/30/19 | I | $0.294 | $0.183 | $0.111 | $0 | $0 |
| 6/28/19 | I | $2.279 | $0.206 | $0.093 | $1.305 | $0.675 |
| 3/29/19 | I | $0.361 | $0.192 | $0.169 | $0 | $0 |
| 12/6/18 | I | $0.969 | $0.299 | $0.089 | $0.581 | $0 |
| 9/28/18 | I | $0.461 | $0.374 | $0.087 | $0 | $0 |
| 6/29/18 | I | $0.767 | $0.317 | $0.103 | $0.303 | $0.044 |
| 3/29/18 | I | $0.288 | $0.207 | $0.081 | $0 | $0 |
| 12/6/17 | I | $2.036 | $0.17 | $0.13 | $1.635 | $0.101 |
| 9/29/17 | I | $0.287 | $0.174 | $0.113 | $0 | $0 |
| 6/30/17 | I | $0.341 | $0.18 | $0.111 | $0.05 | $0 |
| 3/31/17 | I | $0.358 | $0.274 | $0.084 | $0 | $0 |
| 12/8/16 | I | $3.887 | $0.396 | $0.102 | $3.13 | $0.259 |
| 9/30/16 | I | $0.312 | $0.21 | $0.102 | $0 | $0 |
| 6/30/16 | I | $0.954 | $0.218 | $0.108 | $0.628 | $0 |
| 3/31/16 | I | $0.294 | $0.185 | $0.109 | $0 | $0 |
Pay Date
6/28/24Class
SinglePer Share Distribution
0.392Net Investment Income
0.311Return Of Capital
0.081Long Term Gain
0Short Term Gain
0Pay Date
3/28/24Class
SinglePer Share Distribution
0.334Net Investment Income
0.246Return Of Capital
0.088Long Term Gain
0Short Term Gain
0Pay Date
12/7/23Class
SinglePer Share Distribution
0.408Net Investment Income
0.329Return Of Capital
0.079Long Term Gain
0Short Term Gain
0Pay Date
9/29/23Class
SinglePer Share Distribution
0.305Net Investment Income
0.224Return Of Capital
0.081Long Term Gain
0Short Term Gain
0Pay Date
6/30/23Class
IPer Share Distribution
0.374Net Investment Income
0.28Return Of Capital
0.094Long Term Gain
0Short Term Gain
0Pay Date
3/31/23Class
IPer Share Distribution
0.324Net Investment Income
0.222Return Of Capital
0.102Long Term Gain
0Short Term Gain
0Pay Date
12/8/22Class
IPer Share Distribution
0.984Net Investment Income
0.364Return Of Capital
0.12Long Term Gain
0.5Short Term Gain
0Pay Date
9/30/22Class
IPer Share Distribution
0.305Net Investment Income
0.194Return Of Capital
0.111Long Term Gain
0Short Term Gain
0Pay Date
6/30/22Class
IPer Share Distribution
0.544Net Investment Income
0.216Return Of Capital
0.099Long Term Gain
0.229Short Term Gain
0Pay Date
3/31/22Class
IPer Share Distribution
0.266Net Investment Income
0.104Return Of Capital
0.162Long Term Gain
0Short Term Gain
0Pay Date
12/9/21Class
IPer Share Distribution
1.638Net Investment Income
0.215Return Of Capital
0.112Long Term Gain
1.311Short Term Gain
0Pay Date
9/30/21Class
IPer Share Distribution
0.249Net Investment Income
0.168Return Of Capital
0.081Long Term Gain
0Short Term Gain
0Pay Date
6/30/21Class
IPer Share Distribution
0.209Net Investment Income
0.13Return Of Capital
0.079Long Term Gain
0Short Term Gain
0Pay Date
3/31/21Class
IPer Share Distribution
0.196Net Investment Income
0.115Return Of Capital
0.081Long Term Gain
0Short Term Gain
0Pay Date
12/10/20Class
IPer Share Distribution
0.377Net Investment Income
0.266Return Of Capital
0.111Long Term Gain
0Short Term Gain
0Pay Date
9/30/20Class
IPer Share Distribution
0.258Net Investment Income
0.191Return Of Capital
0.067Long Term Gain
0Short Term Gain
0Pay Date
6/30/20Class
IPer Share Distribution
1.214Net Investment Income
0.198Return Of Capital
0.07Long Term Gain
0.946Short Term Gain
0Pay Date
3/31/20Class
IPer Share Distribution
0.277Net Investment Income
0.208Return Of Capital
0.069Long Term Gain
0Short Term Gain
0Pay Date
12/18/19Class
IPer Share Distribution
0.311Net Investment Income
0.199Return Of Capital
0.112Long Term Gain
0Short Term Gain
0Pay Date
11/5/19Class
IPer Share Distribution
1.757Net Investment Income
0Return Of Capital
0Long Term Gain
0.9Short Term Gain
0.857Pay Date
9/30/19Class
IPer Share Distribution
0.294Net Investment Income
0.183Return Of Capital
0.111Long Term Gain
0Short Term Gain
0Pay Date
6/28/19Class
IPer Share Distribution
2.279Net Investment Income
0.206Return Of Capital
0.093Long Term Gain
1.305Short Term Gain
0.675Pay Date
3/29/19Class
IPer Share Distribution
0.361Net Investment Income
0.192Return Of Capital
0.169Long Term Gain
0Short Term Gain
0Pay Date
12/6/18Class
IPer Share Distribution
0.969Net Investment Income
0.299Return Of Capital
0.089Long Term Gain
0.581Short Term Gain
0Pay Date
9/28/18Class
IPer Share Distribution
0.461Net Investment Income
0.374Return Of Capital
0.087Long Term Gain
0Short Term Gain
0Pay Date
6/29/18Class
IPer Share Distribution
0.767Net Investment Income
0.317Return Of Capital
0.103Long Term Gain
0.303Short Term Gain
0.044Pay Date
3/29/18Class
IPer Share Distribution
0.288Net Investment Income
0.207Return Of Capital
0.081Long Term Gain
0Short Term Gain
0Pay Date
12/6/17Class
IPer Share Distribution
2.036Net Investment Income
0.17Return Of Capital
0.13Long Term Gain
1.635Short Term Gain
0.101Pay Date
9/29/17Class
IPer Share Distribution
0.287Net Investment Income
0.174Return Of Capital
0.113Long Term Gain
0Short Term Gain
0Pay Date
6/30/17Class
IPer Share Distribution
0.341Net Investment Income
0.18Return Of Capital
0.111Long Term Gain
0.05Short Term Gain
0Pay Date
3/31/17Class
IPer Share Distribution
0.358Net Investment Income
0.274Return Of Capital
0.084Long Term Gain
0Short Term Gain
0Pay Date
12/8/16Class
IPer Share Distribution
3.887Net Investment Income
0.396Return Of Capital
0.102Long Term Gain
3.13Short Term Gain
0.259Pay Date
9/30/16Class
IPer Share Distribution
0.312Net Investment Income
0.21Return Of Capital
0.102Long Term Gain
0Short Term Gain
0Pay Date
6/30/16Class
IPer Share Distribution
0.954Net Investment Income
0.218Return Of Capital
0.108Long Term Gain
0.628Short Term Gain
0Pay Date
3/31/16Class
IPer Share Distribution
0.294Net Investment Income
0.185Return Of Capital
0.109Long Term Gain
0Short Term Gain
0Risks
Risks of Investing in Real Estate Securities
Investing involves risk, including possible loss of principal. Risks of investing in real estate securities are similar to those associated with direct investments in real estate, including falling property values due to increasing vacancies or declining rents resulting from economic, legal, political or technological developments, lack of liquidity, limited diversification and sensitivity to certain economic factors such as interest rate changes and market recessions. Foreign securities involve special risks, including currency fluctuations, lower liquidity, political and economic uncertainties, and differences in accounting standards. Some international securities may represent small- and medium-sized companies, which may be more susceptible to price volatility and less liquidity than larger companies. The Fund is classified as a “non-diversified” fund under the federal securities laws because it can invest in fewer individual companies than a diversified fund. However, the Fund must meet certain diversification requirements under the U.S. tax laws. No representation or warranty is made as to the efficacy of any particular strategy or fund or the actual returns that may be achieved.
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RELATED INSIGHT
The Cohen & Steers Realty Majors Portfolio Index offers what we believe is a superior approach to capturing the U.S. REIT market, providing a liquid, diverse representation of companies leading the real estate industry.
ADDITIONAL INVESTMENT OPPORTUNITIES
RAPZX
Real Assets FundThe investment objectives of the Fund are to seek a high level of current income and capital appreciation.
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Please consider the investment objectives, risks, charges and expenses of any U.S. Registered open-end fund carefully before investing. A summary prospectus and prospectus containing this and other information may be obtained by calling 1-800-330-7348 or visiting the applicable fund page on this site. Please read the prospectus carefully before investing.
Investing involves risk, including possible loss of principal. Income from investments is not guaranteed.
This material should not be relied upon as investment advice, does not constitute a recommendation to buy or sell a security or other investment and is not intended to predict performance of any investment. This material is not being provided in a fiduciary capacity and is not intended to recommend any investment policy or investment strategy or take into account the specific investment objectives or circumstances of any investor. Please consult with your investment, tax and/or legal professional regarding your individual circumstances prior to investing.
Cohen & Steers U.S. registered open-end funds are distributed by Cohen & Steers Securities, LLC, and are only available to U.S. residents.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE