James Alpha Global Real Estate Investments Fund pays Q2 2014 distribution of $0.46 per share; trailing 12 months' distributions of $2.44 per share
I Shares Ranked in Top 4% of the 174 Funds in Morningstar's Global Real Estate Category for the Past 3 Years as of June 30, 2014. Fund maintains 5 Star Rating (JARIX - I share).
NEW YORK, July 29, 2014 /PRNewswire/ -- The James Alpha Global Real Estate Investments Fund (Nasdaq: JAREX), managed by Senior Portfolio Manager Andrew J. Duffy, CFA paid a $0.46 per share distribution on June 26, 2014 to shareholders of record as of June 25, 2014. Along with the previous three quarterly distributions, the trailing 12 months' distributions total $2.44 per share. The Fund's June 30, 2014 net asset value was $21.20 per share.
The Fund's strategy is to invest in a diversified portfolio of publicly-traded REITs around the world, while utilizing two income-enhancing strategies designed to potentially provide investors with an above-market distribution yield.
The Fund, which is part of the James Alpha mutual fund offerings, seeks to pay the right price for quality companies with sustainable advantages—a strategy that has helped deliver strong returns relative to its peers. The James Alpha Global Real Estate Investments Fund (JARIX - I share) was ranked in the top 4% of the Morningstar Global Real Estate category for the past 3 years as of June 30, 2014, based upon the Fund's total return.
Since inception (10/26/09), the James Alpha Global Real Estate Investments Fund (A shares) has produced an average annualized total return of 13.39% (before sales charges). By comparison, over the same period, the FTSE EPRA/NAREIT Developed Real Estate Index, the Fund's benchmark, produced an average annualized return of 11.90% (10/26/2009 through 6/30/14).
As of June 30, 2014 the Fund has generated the following total returns for the periods indicated:
1 Year |
3 Years |
Since Inception Oct. 26, 2009 |
|
JAREX – A Share (NAV) |
10.23% |
10.09% |
13.39% |
JAREX – A Share (Max Load 5.75%) |
3.89% |
7.94% |
11.96% |
FTSE EPRA/NAREIT DEV REAL ESTATE INDEX |
13.55% |
9.41% |
11.91% |
* All figures for periods over 12 months are annualized. I and C shares also available.
Performance data quoted above are historical. Past performance does not guarantee future results and current performance may be lower or higher than the performance 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. The FTSE EPRA/NAREIT Developed Global Real Estate Index is comprised of publicly-traded REIT securities in developed countries worldwide which have met certain financial criteria for inclusion in the Index. Each company must derive the bulk of its earnings through the ownership, management or development of income-producing commercial real estate. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges. The Fund also offers C and I shares. Information about those share class distributions and returns can be received by calling the Fund's distributor at (888) 814-8180. The Fund's management has contractually waived a portion of its management fees until December 31, 2014. The performance shown reflects the waivers without which the performance would have been lower. Total annual operating expenses after the expense reduction/reimbursement are 2.44% for A shares; total annual operating expenses before the expense reduction / reimbursement are 2.77% for A Shares. 5.75% is the maximum sales charge on purchases of A shares. For more performance numbers current to the most recent month end please call (888) 814-8180.
The Fund's investment objective is total return through a combination of current income and capital appreciation. Additionally, the Fund's management team strives to provide investors with an above-market distribution yield through its income-enhancing strategies: covered call-writing and dividend captures. (There is no assurance, however, that the Fund will achieve its objectives.) Over the past four quarters, the Fund has distributed the following amounts per share:
Q3-2013 |
Q4-2013 |
Q1-2014 |
Q2-2014 |
$0.60 |
$0.95 |
$0.43 |
$0.46 |
The Fund's closing NAV for A Shares as of June 30, 2014 was $21.20 per share.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other information is contained in the Fund's prospectus, which can be obtained by calling (888) 814-8180 and should be read carefully before investing. The Saratoga Advantage Trust's Funds, including the James Alpha Global Real Estate Investments Fund, are distributed by Northern Lights Distributors, LLC, member FINRA. Some associates of James Alpha Management are securities registered with Ascent Real Estate Securities LLC, and/or FDX Capital, LLC, both Members FINRA/SIPC. FDX Capital and Ascent Investment Advisors are not affiliated with Northern Lights Distributors, LLC.
1 Source: Morningstar® 7/7/14. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating based on a Morningstar risk-adjusted return measure that accounts for variation in the fund's adjusted monthly performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive a Morningstar RatingTM of 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund and rated separately.) The investment's independent Morningstar Rating metric is then compared against the open-end mutual fund universe's actual performance breakpoints to determine its extended performance rating. The Overall Morningstar Rating for a mutual fund is derived from a weighted average of the actual performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. The James Alpha Global Real Estate Investments Fund's I shares are rated "5 Stars," while the C Shares and A.lw Shares received a "4 Star" rating, and the A Shares received a "3 Star" rating, for the three-year period from among 174 global real estate funds for the period ended 6/30/2014. © 2014 Morningstar, Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
The Fund is subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment. Risks of one's ownership are similar to those associated with direct ownership of real estate, such as changes in real estate values, interest rates, cash flow of underlying real estate assets, supply and demand, and the creditworthiness of the issuer. International investing poses special risks, including currency fluctuations and economic and political risks not found in investments that are solely domestic. Options involve risk and are not suitable for all investors. Writing a covered call option allows the fund to receive a premium (income) for giving the right to a third party to purchase shares that the Fund owns in a given company at a set price for a certain period of time. There is no guarantee of success for any options strategy. Increased portfolio turnover may result in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Investments in lesser-known, small and medium capitalization companies may be more vulnerable to these and other risks than larger, more established organizations.
Not all investors are eligible to purchase load-waived shares. Ratings and other statistics for load-waived versions of the class A shares of mutual funds reflect the investor experience for those individuals who do not pay the funds' front-end sales load, such as retirement-plan participants or those investors who commit to invest a certain amount.
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON THE FUND'S PRESENT BELIEFS AND EXPECTATIONS, BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR NUMEROUS REASONS, SOME OF WHICH ARE BEYOND THE FUND'S CONTROL. THE FUND CAN PROVIDE NO ASSURANCE THAT ITS FUTURE EARNINGS WILL BE SUFFICIENT TO ENABLE THE FUND TO PAY A REGULAR QUARTERLY DISTRIBUTION. THE DIVIDENDS WHICH THE FUND HAS RECEIVED FROM ITS INVESTMENTS IN REITS MAY BE CHARACTERIZED BY THOSE REITS DIFFERENTLY THAN THE FUND NOW EXPECTS. FOR THIS REASON, AMONG OTHERS, SOME OF THE DISTRIBUTION DESCRIBED IN THIS PRESS RELEASE MAY CONSIST OF CAPITAL GAINS OR RETURN OF CAPITAL.
FOR THESE AND OTHER REASONS, INVESTORS SHOULD NOT PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.
Contact: Kelly Bauerle, 888-814-8180 [email protected]
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SOURCE James Alpha Global Real Estate Investments Fund
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