Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
5.1%
1 yr return
20.7%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$17.5 M
Holdings in Top 10
42.2%
Expense Ratio 1.90%
Front Load 5.75%
Deferred Load N/A
Turnover 49.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal conditions, the Fund invests at least 80%, and usually substantially all, of its net assets plus borrowings for investment purposes, if any, in common stocks and other equity securities issued by U.S. and non-U.S. real estate companies, including real estate investment trusts (“REITs”) and similar REIT-like entities in at least three different countries. The Fund may invest in equity securities, limited partnership interests, exchange-traded funds (“ETFs”), American Depositary Receipts and European Depositary Receipts. The Fund may invest in securities of companies having any capitalization.
The Fund will also invest, under normal circumstances, at least 40% of its net assets in securities of real estate industry companies that are economically tied to countries outside the United States. However, the Fund retains the ability to invest its net assets in U.S. real estate industry companies up to 5% beyond the percentage of U.S. real estate industry companies represented in the FTSE EPRA NAREIT Developed Index (the “Index”). In these situations, the Fund’s investment in securities of real estate industry companies that are economically tied to countries outside the United States may be less than their percentage represented in the Index. The Fund considers a company that derives at least 50% of its revenue from business outside the U.S. or has at least 50% of its assets outside the U.S. as doing a substantial amount of business outside the U.S. The non-U.S. companies in which the Fund invests may include those domiciled in emerging market countries. Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries. The Fund is not limited in the extent to which it may invest in emerging market companies.
The Advisor allocates the Fund’s assets among securities of countries and in currency denominations that the Advisor expects to provide the best opportunities for meeting the Fund’s investment objective. In analyzing specific companies for possible investment, the Advisor utilizes fundamental real estate analysis and quantitative analysis to select investments for the Fund, including analyzing a company’s management and strategic focus, evaluating the location, physical attributes and cash flow generating capacity of a company’s properties, calculating relative return potential, and assessing the impacts of unexpected economic events such as major recessions, significant geopolitical events or pandemics.
Fundamental analysis is a method of analysis that evaluates the financial characteristics of an investment opportunity with projections of the future in potential metrics like cash generation and policy, revenue and earnings growth, margins and balance sheet/liability management. For core real estate fundamentals, the Advisor evaluates characteristics like occupancy, tenant concentration and maturity schedule.
Market and macro fundamental analysis also includes metrics like new supply in operating markets and sub-markets for real estate, and current market lease terms including headline rental rates. For macro analysis, the Advisor evaluates interest rate policy, economic growth rates, inflation conditions, and housing market conditions as part of the investment positioning and input.
Quantitative analysis is a method of analysis that uses current and historical data to point to potential investments in a large opportunity set, for which the Advisor then performs fundamental analysis for final selection and evaluation. Any quantitative analysis is overseen and reviewed by the Advisor on an ongoing basis.
Period | KIRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.1% | -5.4% | 22.0% | 81.87% |
1 Yr | 20.7% | -10.3% | 37.9% | 85.71% |
3 Yr | N/A* | -14.7% | 20.0% | 4.84% |
5 Yr | N/A* | -9.6% | 17.4% | 43.02% |
10 Yr | N/A* | -1.5% | 11.8% | 77.19% |
* Annualized
Period | KIRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.0% | -16.8% | 16.7% | 40.56% |
2022 | N/A | -43.9% | 4.5% | 61.83% |
2021 | N/A | -13.9% | 30.7% | 83.33% |
2020 | N/A | -20.7% | 13.7% | 35.14% |
2019 | N/A | 1.0% | 26.5% | 91.81% |
Period | KIRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.1% | -5.4% | 22.0% | 81.87% |
1 Yr | 20.7% | -10.3% | 37.9% | 85.71% |
3 Yr | N/A* | -14.7% | 20.0% | 5.91% |
5 Yr | N/A* | -9.6% | 17.4% | 49.16% |
10 Yr | N/A* | -1.5% | 11.8% | 66.67% |
* Annualized
Period | KIRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.7% | -14.6% | 23.4% | 30.00% |
2022 | N/A | -39.5% | 10.1% | 61.83% |
2021 | N/A | 5.7% | 101.8% | 83.33% |
2020 | N/A | -17.8% | 14.7% | 35.14% |
2019 | N/A | 4.3% | 37.2% | 85.38% |
KIRAX | Category Low | Category High | KIRAX % Rank | |
---|---|---|---|---|
Net Assets | 17.5 M | 4.27 M | 7.48 B | 92.74% |
Number of Holdings | 32 | 5 | 691 | 96.15% |
Net Assets in Top 10 | 7.07 M | 1.9 M | 4.55 B | 93.41% |
Weighting of Top 10 | 42.20% | 19.5% | 64.5% | 35.36% |
Weighting | Return Low | Return High | KIRAX % Rank | |
---|---|---|---|---|
Stocks | 97.56% | 3.01% | 126.54% | 75.82% |
Cash | 2.44% | 0.00% | 11.23% | 30.22% |
Preferred Stocks | 0.00% | 0.00% | 7.41% | 24.73% |
Other | 0.00% | -33.49% | 99.87% | 45.05% |
Convertible Bonds | 0.00% | 0.00% | 0.07% | 18.23% |
Bonds | 0.00% | 0.00% | 23.39% | 21.98% |
Weighting | Return Low | Return High | KIRAX % Rank | |
---|---|---|---|---|
Real Estate | 100.00% | 72.53% | 100.00% | 2.26% |
Utilities | 0.00% | 0.00% | 0.96% | 20.90% |
Technology | 0.00% | 0.00% | 4.92% | 54.24% |
Industrials | 0.00% | 0.00% | 4.91% | 33.90% |
Healthcare | 0.00% | 0.00% | 1.54% | 28.25% |
Financial Services | 0.00% | 0.00% | 9.53% | 31.64% |
Energy | 0.00% | 0.00% | 0.11% | 17.51% |
Communication Services | 0.00% | 0.00% | 10.08% | 63.28% |
Consumer Defense | 0.00% | 0.00% | 0.18% | 19.21% |
Consumer Cyclical | 0.00% | 0.00% | 13.03% | 73.45% |
Basic Materials | 0.00% | 0.00% | 1.63% | 22.03% |
Weighting | Return Low | Return High | KIRAX % Rank | |
---|---|---|---|---|
US | 67.62% | 0.00% | 102.76% | 9.89% |
Non US | 29.94% | 0.00% | 98.87% | 84.07% |
KIRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.90% | 0.10% | 36.96% | 24.73% |
Management Fee | 0.70% | 0.09% | 1.50% | 19.89% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 20.99% |
Administrative Fee | N/A | 0.01% | 0.25% | 46.53% |
KIRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.75% | 3.50% | 5.75% | 6.45% |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
KIRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
KIRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 49.00% | 1.00% | 165.00% | 44.32% |
KIRAX | Category Low | Category High | KIRAX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.33% | 0.00% | 5.52% | 51.10% |
KIRAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
KIRAX | Category Low | Category High | KIRAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.83% | -0.23% | 3.84% | 81.46% |
KIRAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 27, 2024 | $0.077 | OrdinaryDividend |
Mar 27, 2024 | $0.051 | OrdinaryDividend |
Dec 28, 2023 | $0.078 | OrdinaryDividend |
Sep 28, 2023 | $0.060 | OrdinaryDividend |
Jun 29, 2023 | $0.099 | OrdinaryDividend |
Mar 30, 2023 | $0.052 | OrdinaryDividend |
Dec 27, 2022 | $0.069 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
May 01, 2021
1.08
1.1%
Mr. Palmer leads the real estate team, a group of professionals whose broad experience investing in the real estate sector and relationships with industry executives are critical elements in operating the Fund. As a team leader and Portfolio Manager, Mr. Palmer has ultimate responsibility for all Fund investment decisions. Mr. Palmer has been a member of the Salient real estate team since September 2013 and has acted as sole Portfolio Manager since May 2021.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 20.42 | 7.11 | 10.42 |
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