Versus Capital Multi-Manager Real Estate Income Fund Announces 1 Year Track Record

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Versus Capital Multi-Manager Real Estate Income Fund Announces 1 Year Track Record

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Versus Capital, the Adviser to the Versus Capital Multi-Manager Real Estate Income (the Fund), a continuously offered, closed-end interval fund, is pleased to announce its one year track record for the Fund. The Fund's institutional share class (VCMIX) began investing capital on July 10, 2012.

"We are pleased with how the Fund has delivered on its income and capital preservation objectives over the past year. In line with our objectives, a significant portion of the fund's return was derived from income, and the fund generated a compelling relative yield. In addition, the limited volatility has resulted in attractive risk-adjusted returns," commented Mark Quam, Chief Executive Officer of the Fund.

 

Fund Performance

      

 

 

1 Yr Return
As of July 10, 2013

 

Standard
Deviation

 

Sharpe
Ratio

VCMIX 5.81% 2.40% 2.40

"Fund assets are now over $29 million and we have invested capital in two of our approved institutionally managed real estate private equity funds and have committed capital to a number of our other approved funds. As of June 2013, the two underlying funds in which VCMIX has invested own over $10 billion invested in 160 quality core real estate assets that stand to benefit from an improving economic environment and have historically been a good inflation hedge. Given recent volatility in the equity markets and rising yields that have negatively impacted bond returns, we are excited about the role our Fund can play in helping investors mitigate those realities."

Past Performance does not guarantee future results.The performance data quoted represents past performance and future returns may be lower or higher. Total return figures include change in share price with reinvestment of dividends and capital gains.The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.Performance data current to the most recent month-end may be obtained by calling 877-343-7916.

For information on the Fund's F Share class please visitwww.versuscapital.com.

DEFINITIONS:

Standard deviation indicates the volatility of a fund's total returns. In general, the higher the standard deviation, the greater the volatility of a fund's total return. Sharpe Ratio is a risk statistic used to measure the excess return per unit of risk in an investment asset. The higher the Sharpe ratio, the better the risk-adjusted return. Excess return is the rate of return above and beyond the risk-free rate, which is the short term treasury rate (the 3-month Treasury rate as of July 9th, 2013 was used for this analysis).

FUND DISCLOSURES:

Liquidity

The Fund is a continuously-offered, closed-end investment company, registered under the Investment Company Act of 1940, as amended. The Fund does not intend to list its Shares on any securities exchange during the offering period, and the Fund does not expect a secondary market in the Shares to develop. As a result of the foregoing, an investment in the Fund's Shares is not suitable for investors that require liquidity, other than liquidity provided through the Fund's repurchase policy. You should not expect to be able to sell your Shares other than through the Fund's repurchase policy, regardless of how the Fund performs. There is no guarantee that shareholders will be able to sell all of their tendered shares during a quarterly repurchase offer.

Expenses

The Shares do not have an upfront or backend sales charge/load, however, the F-Shares pay a distribution fee. Additionally, a shareholder who tenders F-Shares for repurchase is subject to an Early Withdrawal Charge of 2%. Like all mutual funds, the Fund has ongoing operating expenses. As a consequence of its multi-manager structure, an investor in the Fund will bear not only his or her proportionate share of expenses of the Fund itself but also indirectly the expenses associated with using underlying investment funds and underlying sub-advisers.

Risks

CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES, AND EXPENSES BEFORE INVESTING. YOU CAN OBTAIN THE PROSPECTUS AND SUMMARY PROSPECTUS WITH THIS AND OTHER INFORMATION ABOUT THE FUND FROM THE SUB-DISTRIBUTOR OR FROM THE VERSUS CAPITAL WEB SITE (versuscapital.com). READ THEM CAREFULLY BEFORE INVESTING. AN INVESTMENT IN THE FUND IS SUBJECT TO A HIGH DEGREE OF RISK. THESE RISKS INCLUDE, BUT ARE NOT LIMITED TO, THOSE OUTLINED BELOW.

The Fund is a newly formed entity with no significant operating history upon which prospective investors may evaluate the Fund's potential performance. There is the risk that the amount of capital raised by the Fund may be insufficient to achieve profitability and meet its investment objectives. Real estate is subject to special risks, among which are tenant default, environmental problems, and adverse changes in local economic conditions. The yield from an underlying investment fund could be significantly reduced if it fails to qualify as a REIT (real estate investment trust) for tax purposes. The Fund's investments also may be negatively affected by the broad investment environment. Although the Fund is intended to provide a means by which investors can diversify their portfolios into real estate, the Fund itself is "non-diversified" under the Investment Company Act of 1940 since changes in the market value of a single holding may cause a greater fluctuation in the Fund's net asset value than in a "diversified" fund. The Fund is not intended to be a complete investment program. Investors are reminded that portfolio diversification does not ensure a profit or guarantee against a loss.

A multi-manager strategy involves certain risks. For example, the success of the Fund depends in large part upon the ability of the Adviser to choose successful Investment Managers. It is possible that some Investment Managers may take similar market positions, thereby interfering with the Fund's investment goal. The Fund and underlying Investment Managers may borrow as an investment strategy. The Fund intends to limit borrowing to one third of its gross asset value. While borrowing presents opportunities to increase the Fund's total return, it potentially increases the losses as well. Under certain circumstances, the Fund's distribution policy could result in a return of capital, potentially causing the Fund's expense ratio to increase. The Adviser, Sub-Adviser, and Investment Mangers manage portfolios for themselves and for clients other than the Fund. A conflict between the interests of the Fund and the interests of these other parties may arise in certain situations which potentially could disadvantage the Fund. For example, a suitable but limited investment opportunity might be allocated to another client rather than to the Fund.



Adviser
Versus Capital Advisors, LLC
Crystal Daniels, 1-877-343-7916
info@versuscapital.com
or
Distributor
Foreside Funds Distributors, LLC

KEYWORDS:   United States  North America  Colorado

INDUSTRY KEYWORDS:

The article Versus Capital Multi-Manager Real Estate Income Fund Announces 1 Year Track Record originally appeared on Fool.com.

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