Griffin Capital Company, LLC (“Griffin Capital”) announced today
that its Griffin Institutional Access Real Estate Fund
(NASDAQ:GIREX) (NASDAQ:GCREX) (NASDAQ:GRIFX) (NASDAQ:GLREX)
(NASDAQ:GMREX) (the "Fund") observed its third anniversary on June
30th.
With a three-year track record of positive
performance and $1.7 billion in assets under management, the Fund’s
strategy and objectives, as directed by the experienced Griffin
Capital investment management team, have clearly found a receptive
audience among investors.
“Over the past three years, we have utilized
both quantitative and qualitative analysis to develop an optimal
mix of private and public real estate securities to deliver on the
Fund’s stated objective: Total return comprised of income and
appreciation with moderate volatility and low correlation to the
broad markets,” said Portfolio Manager, Randy I. Anderson, Ph.D.,
CRE.
From inception through May 31, 2017, the Fund
has generated a total cumulative return of 23.07% and an annualized
return of 7.38% with a Sharpe Ratio of 3.38—more than three times
the Sharpe Ratio of the S&P 500 (0.90) over the same time
period.
“We’re very proud of the performance the Griffin
Institutional Access Real Estate Fund has posted over its first
three years,” Dr. Anderson continued. “Amidst a macro economic
backdrop that included terrorist attacks, “Brexit,” interest rate
increases by the U.S. Federal Reserve and the change of
presidential administrations, we posted positive returns in 12 out
of 12 quarters since the Fund’s inception. Moving forward, the only
certainty within the financial markets will be more uncertainty. As
the markets continue to evolve, we will remain diligently focused
on monitoring developments in fiscal policy reform and
geo-political events, which may provide opportunities to mitigate
risk and drive returns. We will continue our focus and work
tirelessly to deliver strong-risk adjusted returns to our
investors.”
To learn more about the Fund, visit:
www.griffincapital.com/griffin-institutional-access-real-estate-fund.
About Griffin Institutional Access Real Estate
FundGriffin Institutional Access Real Estate Fund (the
"Fund," tickers: GIREX, GCREX, GRIFX, GLREX, GMREX), a closed-end,
interval fund registered under the Investment Company Act of 1940,
is an actively-managed portfolio of private real estate funds and
public real estate securities, diversified by property type and
geography, offering daily pricing and periodic liquidity at net
asset value. The Fund will make quarterly offers to repurchase
between five percent and 25 percent of its outstanding shares at
net asset value. The Fund began reporting on NASDAQ on June 30,
2014 with an initial share price of $25.00 and reported a share
price of $26.56 for Class A, $ 26.20 for Class C, $26.68 for Class
I, $26.55 for Class L, and $26.47 for Class M as of June 29, 2017.
The advisor of the Fund is Griffin Capital Advisor, LLC, a majority
owned subsidiary of Griffin Capital Company, LLC.
About Griffin Capital Company, LLCGriffin
Capital is a leading alternative investment asset manager with
approximately $9 billion* in assets under management. Founded in
1995, the privately-held firm is led by a seasoned team of senior
executives with more than two decades of investment and real estate
experience and who collectively have executed more than 650
transactions valued at over $22 billion.
The firm manages, sponsors or co-sponsors a suite of carefully
curated, institutional quality investment solutions distributed by
Griffin Capital Securities, LLC to retail investors through a
community of partners, including independent and insurance
broker-dealers, wirehouses, registered investment advisory firms
and the financial advisors who work with these enterprises.
Additional information is available at
www.griffincapital.com.
*As of June 30, 2017.
Investors should carefully consider the investment
objectives, risks, charges and expenses of the Griffin
Institutional Access Real Estate Fund (the "Fund"). This and other
important information about the Fund is contained in the
prospectus, which can be obtained by contacting your financial
advisor or visiting
www.griffincapital.com. The prospectus
should be read carefully before investing.
Griffin Institutional Access Real Estate Fund Risk
ConsiderationsAs of 5/31/17 the Fund's annualized return
since inception for Class A shares was 7.38%. The Fund's
inception date was 6/30/14. The total gross expense ratio is 2.42%
for Class A, 3.17% for Class C, 2.17% for Class I, 2.67% for Class
L, and 2.92% for Class M. Performance data quoted represents past
performance. Past performance is no guarantee of future results and
investment returns and principal value of the Fund will fluctuate
so that shares, when redeemed, may be worth more or less than their
original cost. Current performance may be lower or higher than
performance data quoted. The maximum sales charge is 5.75% for
Class A shares and 4.25% for Class L shares. Class C shareholders
may be subject to a contingent deferred sales charge equal to 1.00%
of the original purchase price of Class C shares redeemed during
the first 365 days after their purchase. The Fund has contractually
agreed to waive its fees to the extent that they exceed 1.91% for
Class A, 2.66% for Class C, 1.66% for Class I, and 2.41% for Class
M until February 1, 2018. The Fund has contractually agreed to
waive its fees to the extent that they exceed 2.16% for Class L
until May 31, 2018. Without the waiver the expenses would have been
higher. The net asset value fund return does not reflect the
deduction of all fees and if the fund return reflected the
deduction of such fees, the performance would be lower.
Visit www.griffincapital.com for current performance.
The Fund will not invest in real estate directly, but, because
the Fund will concentrate its investments in securities of REITs
and other real estate industry issuers, its portfolio will be
significantly impacted by the performance of the real estate market
and may experience more volatility and be exposed to greater risk
than a more diversified portfolio. The value of companies engaged
in the real estate industry is affected by: (i) changes in general
economic and market conditions; (ii) changes in the value of real
estate properties; (iii) risks related to local economic
conditions, overbuilding and increased competition; (iv) increases
in property taxes and operating expenses; (v) changes in zoning
laws; (vi) casualty and condemnation losses; (vii) variations in
rental income, neighborhood values or the appeal of property to
tenants; (viii) the availability of financing and (ix) changes in
interest rates and leverage.
Investors in the Fund should understand that the NAV of the Fund
will fluctuate, which may result in a loss of the principal amount
invested. The Fund provides liquidity to shareholders quarterly
between 5% and 25% of its outstanding shares at net asset
value.
Sources of distributions to shareholders for tax reporting
purposes will depend upon the Fund's investment experience during
the remainder of its fiscal year and may be subject to changes
based on tax regulations. Pursuant to Section 852 of the Internal
Revenue Code, the taxability of distributions will be reported on
Form 1099-DIV.
All performance calculations and metrics are sourced from
Morningstar Direct and are based on monthly data. CALCULATIONS AND
METRICS REFLECT A LOAD WAIVED, CLASS A SHARE. Investors of the load
waived class A share do not pay a front-end sales load.
S&P 500: An index based on market cap of the 500 largest
companies having stock listed on the New York Stock Exchange (NYSE)
or NASDAQ. One may not directly invest in an index.
Sharpe Ratio: Measures risk-adjusted returns by calculating the
excess return (above the risk free rate) per unit of risk (standard
deviation). The higher the ratio, the better the risk-adjusted
returns. The average 3 month U.S. Treasury Tbill auction was used
as the risk free rate in this material.
Griffin Institutional Access Real Estate Fund is
distributed by ALPS Distributors, Inc. ALPS Distributors, Inc. is
not affiliated with either Griffin Capital or any of its
affiliates.
Jennifer Nahas
Vice President, Marketing
Griffin Capital Corporation
949-270-9332
jnahas@griffincapital.com
Matthew Griffes / Joseph Kuo
Haven Tower Group LLC
424 652 6520, ext. 103 / 424 652 6520, ext 101
mgriffes@haventower.com or jkuo@haventower.com
Griffin Institutional Access Real Estate Fund Class C Shares (MM) (NASDAQ:GCREX)
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