Total Income+ Real Estate Fund Announces 1Q Distribution at a 5.25% Annualized Distribution Rate
NEW YORK, March 29, 2018 /PRNewswire/ -- Bluerock's Total Income+ Real Estate Fund ("TI+," tickers: TIPRX, TIPPX, TIPWX, TIPLX) has paid a first quarter distribution of $0.3923 per share, or 1.31% for the quarter, based on the share price of $29.89 for shareholders of record as of March 28, 2018 (A-shares). This distribution amount represents an annualized distribution rate of 5.25% based on the current share price.
"TI+ has been able to deliver strong quarter-over-quarter NAV growth since its inception and Q1 marks the Fund's 21st consecutive quarterly distribution now totaling $7.43 per share; or nearly 30%, over and above the Fund's NAV growth from $25 per share since inception to $29.89 today," said Ramin Kamfar, CEO of Bluerock.
TI+ continued to meet its stated objectives, including current income, capital appreciation, low correlation and low volatility relative to the broader markets. Since its inception in 2012, TI+ has generated higher risk-adjusted returns than major stock, bond and public REIT indexes1, while providing investors access to institutional, private equity real estate previously unavailable to individual investors.
Net assets under management for TI+ are approximately $930 million. Recent TI+ investments include contributions to five institutional, private equity investments, including: Morgan Stanley, Clarion, Blackstone, RREEF, and Invesco. TI+ currently maintains positions in 21 private equity real estate investments, with underlying assets valued at more than $165 billion (holdings are subject to change at any time and should not be considered investment advice).
1 Stocks: S&P 500; Bonds: Bloomberg Barclays U.S. Aggregate Bond Index, REITs: MSCI U.S. REIT Index
TI+ A Share Fund Performance
| Performance through 12.31.2017 |
Performance Through 3.28.2018 |
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| One Year as of 12.31.2017 |
Five Years as of 12.31.2017 |
Since Inception Through 12.31.20172 |
Since Inception Through 3.28.2018 |
|
| TI+ Fund Class A |
6.81% |
8.52% |
8.20% |
8.15% |
| TI+ Class A¹ with Max Sales Charge |
0.67% |
7.24% |
6.96% |
6.97% |
| 1 The maximum sales charge for the Class A shares is 5.75%. Investors may be eligible for a waiver or a reduction in the sales charge. |
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| 2 Inception date of the Fund is October 22, 2012. |
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The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month end, please call toll-free 1-888-459-1059. Past performance is no guarantee of future results.
The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, is 2.38% for Class A, 3.12% for Class C, 2.15% for Class I, and 2.69% for Class L. The Fund's investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until January 31, 2019 for Class A, C, I and L shares, to ensure that the net annual fund operating expenses will not exceed 1.95% for Class A, 2.70% for Class C and 1.70% for Class I, and 2.20% for Class L, subject to possible recoupment from the Fund in future years. Please review the Fund's Prospectus for more detail on the expense waiver. The Advisor previously entered into an expense limitation agreement and side letter agreement (the "Prior Agreements") with the Fund under which it contractually agreed to limit the L Share expenses to 2.14%. The Prior Agreements will remain in effect until May 31, 2018. Though not reflected above, for the period January 31, 2018 through May 31, 2018 the Advisor will honor the Prior Agreements, waving or reimbursing an additional 0.06% of Fund expenses, and limit L Share expenses to 2.14%. A Fund's performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. Fund performance and distributions are presented net of fees.
The Total Income+ Real Estate Fund invests the majority of its assets in institutional private equity real estate securities that are generally available only to institutional investors capable of meeting the multi-million dollar minimum investment criteria. As of the end of the second quarter, the value of the underlying real estate held by the securities in which the Fund is invested exceeded $165 billion, including investments managed by AEW, Blackstone, Morgan Stanley, Principal, Prudential, Clarion Partners, J.P. Morgan, Invesco and RREEF, among others. The minimum investment in the Fund is $2,500 ($1,000 for retirement plans) for Class A, C, and L shares.
For copies of TI+ public company filings, please visit the U.S. Securities and Exchange Commission's website at www.sec.gov or the Company's website at www.bluerockfunds.com.
About Total Income+ Real Estate Fund
The Total Income+ Real Estate Fund offers individual investors access to a portfolio of institutional real estate securities managed by top-ranked fund managers. The Fund seeks to provide a comprehensive real estate holding designed to provide a combination of current income, capital preservation, long-term capital appreciation and enhanced portfolio diversification with low to moderate volatility and low correlation to the broader equity and fixed income markets. The Fund utilizes an exclusive partnership with Mercer Investment Management, Inc., the world's leading advisor to endowments, pension funds, sovereign wealth funds and family offices globally, with over 3,300 clients worldwide, and $10.1 trillion in assets under advisement.
Investing in the Total Income+ Real Estate Fund involves risks, including the loss of principal. The Fund intends to make investments in multiple real estate securities that may subject the Fund to additional fees and expenses, including management and performance fees, which could negatively affect returns and could expose the Fund to additional risk, including lack of control, as further described in the prospectus. The Fund's distribution policy is to make quarterly distributions to shareholders. The level of quarterly distributions (including any return of capital) is not fixed and this distribution policy is subject to change. Shareholders should not assume that the source of a distribution from the Fund is net profit. A portion of the distributions consist of a return of capital based on the character of the distributions received from the underlying holdings, primarily Real Estate Investment Trusts. The final determination of the source and tax characteristics of all distributions will be made after the end of each year. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. There is no assurance that the Company will continue to declare distributions or that they will continue at these rates. There can be no assurance that any investment will be effective in achieving the Fund's investment objectives, delivering positive returns or avoiding losses.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Total Income+ Real Estate Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained online at www.bluerockfunds.com. The Total Income+ Real Estate Fund is distributed by ALPS, Inc. The prospectus should be read carefully before investing. Bluerock Fund Advisor, LLC is not affiliated with ALPS, Inc. BLU000181 | 12/31/2018
SOURCE Bluerock's Total Income+ Real Estate Fund
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