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OREIX

Real Estate Fund

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Overview

The Strategy typically invests in real estate securities, primarily real estate investment trusts (REITs).

Inception Date
August 28, 2012
Investment Style
Real Estate
Fund Index
FTSE NAREIT Equity REITs TR Index
CUSIP
68382F606
NAV
  • A
(as of 10/19/2018)
$24.23
Total Assets
(as of 09/30/2018)
$982.22 MM
Gross Expense Ratio
(as of 09/30/2018)
0.92%
Net Expense Ratio
(as of 09/30/2018)
0.92%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 09/30/2018
  • B
as of 09/30/2018
  • B

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr since inception
Real Estate Fund (NAV)
1.68% 1.32% 3.38% 6.34% 9.06% 7.95%
FTSE NAREIT Equity REITs TR Index
0.79% 1.81% 3.35% 7.64% 9.16% -
Cumulative
Annualized
3 mo ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr since inception
Real Estate Fund (NAV)
1.68% 1.32% 3.38% 6.34% 9.06% 7.95%
FTSE NAREIT Equity REITs TR Index
0.79% 1.81% 3.35% 7.64% 9.16% -
Gross Expense Ratio: 0.92% | Net Expense Ratio: 0.92%

The performance data quoted represents past performance, which does not guarantee future results.  The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Real Estate Fund FTSE NAREIT Equity REITs TR Index
2013 3.35% 2.47%
2014 32.02% 30.14%
2015 2.84% 3.20%
2016 6.51% 8.52%
2017 4.50% 5.23%

The performance data quoted represents past performance, which does not guarantee future results.  The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.


Date Real Estate Fund FTSE NAREIT Equity REITs Index BBG Barclays Agg S&P 500
9/30/2013 0.00 0.00 0.00 0.00
10/31/2013 4.79 4.48 0.81 4.60
11/30/2013 0.52 -0.94 0.43 7.78
12/31/2013 0.76 -0.71 -0.14 10.51
1/31/2014 4.04 3.40 1.34 6.69
2/28/2014 9.62 8.58 1.88 11.57
3/31/2014 10.48 9.20 1.70 12.51
4/30/2014 14.16 12.81 2.56 13.34
5/31/2014 16.77 15.53 3.73 16.00
6/30/2014 18.30 16.82 3.78 18.40
7/31/2014 18.26 16.86 3.52 16.77
8/31/2014 21.40 20.31 4.67 21.44
9/30/2014 14.55 13.14 3.96 19.73
10/31/2014 27.32 24.39 4.98 22.66
11/30/2014 29.74 26.84 5.72 25.96
12/31/2014 33.02 29.21 5.82 25.64
1/31/2015 41.41 37.88 8.04 21.87
2/28/2015 37.26 33.08 7.02 28.87
3/31/2015 39.81 35.35 7.52 26.83
4/30/2015 31.54 27.92 7.14 28.05
5/31/2015 31.21 27.76 6.88 29.70
6/30/2015 24.98 21.88 5.71 27.19
7/31/2015 32.65 28.75 6.45 29.85
8/31/2015 24.51 20.78 6.29 22.02
9/30/2015 28.27 24.32 7.01 19.00
10/31/2015 34.87 31.61 7.03 29.04
11/30/2015 34.26 30.93 6.75 29.42
12/31/2015 36.79 33.34 6.40 27.38
1/31/2016 31.70 28.87 7.87 21.06
2/29/2016 30.94 28.33 8.63 20.89
3/31/2016 43.69 41.34 9.63 29.10
4/30/2016 39.96 37.97 10.05 29.60
5/31/2016 43.95 41.32 10.08 31.92
6/30/2016 54.15 51.18 12.06 32.27
7/31/2016 59.90 57.46 12.76 37.14
8/31/2016 54.76 51.68 12.64 37.33
9/30/2016 51.47 49.01 12.57 37.36
10/31/2016 43.34 40.58 11.71 34.86
11/30/2016 40.18 38.21 9.07 39.85
12/31/2016 45.70 44.70 9.22 42.61
1/31/2017 44.48 44.86 9.43 45.32
2/28/2017 50.09 49.80 10.17 51.09
3/31/2017 46.67 46.38 10.11 51.26
4/30/2017 47.02 46.56 10.96 52.82
5/31/2017 45.28 45.43 11.82 54.97
6/30/2017 47.99 48.61 11.70 55.94
7/31/2017 48.98 50.42 12.18 59.14
8/31/2017 50.38 50.04 13.19 59.63
9/30/2017 49.21 50.00 12.65 62.92
10/31/2017 48.69 48.56 12.72 66.72
11/30/2017 52.44 52.58 12.57 71.84
12/31/2017 52.26 52.26 13.09 73.75
1/31/2018 47.19 45.90 11.79 83.70
2/28/2018 36.88 34.65 10.73 76.93
3/31/2018 42.38 39.78 11.44 72.43
4/30/2018 43.54 41.78 10.61 73.09
5/31/2018 47.20 47.38 11.40 77.26
6/30/2018 51.71 53.81 11.26 78.35
7/31/2018 53.37 55.04 11.29 84.99
8/31/2018 57.97 59.06 12.00 91.02
9/30/2018 54.26 55.02 11.28 92.10
Date Dividends
12/13/2013 0.0507
3/20/2014 0.0764
6/19/2014 0.1519
9/18/2014 0.1551
12/11/2014 0.1628
12/29/2014 0.0637
3/18/2015 0.072
6/17/2015 0.1561
9/23/2015 0.207
12/10/2015 0.2244
3/23/2016 0.1015
6/22/2016 0.1493
9/21/2016 0.2281
12/8/2016 0.2468
3/22/2017 0.1072
6/21/2017 0.1072
9/20/2017 0.1107
12/7/2017 0.0928
12/27/2017 0.0455
3/21/2018 0.0302
6/20/2018 0.1057
9/19/2018 0.176

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results.  The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 10/21/2018

Date 2013 2014 2015 2016 2017
Short Term 0.1761 0.4868 0.4472
Long Term 0.0032 1.0441 1.5582 2.2193 0.9024
Total Amount of Distribution 0.0032 1.2201 2.0449 2.6665 0.9024
Record Date 12/11/13 12/10/14 12/9/15 12/7/16 12/6/17
Ex Div Date 12/12/13 12/11/14 12/10/15 12/8/16 12/7/17
Pay Date 12/13/13 12/11/14 12/10/15 12/8/16 12/7/17

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(75.6% of assets as of 09/30/2018)


Portfolio Holdings Breakdown

Country
Equity Sector
Asset Allocation
Market Cap 7
Country Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
United States 98.7% 100.0% -1.3%
Equity Sector Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Apartments 13.9% 13.0% 0.9%
Office 12.1% 11.2% 1.0%
Data Centers 11.2% 8.1% 3.0%
Health Care 10.4% 11.2% -0.8%
Industrial 9.1% 9.9% -0.8%
Lodging/Resorts 8.7% 7.0% 1.7%
Regional Malls 6.4% 8.3% -2.0%
Free Standing 5.5% 4.3% 1.1%
Shopping Centers 5.5% 6.2% -0.6%
Self Storage 4.3% 6.0% -1.8%
Manufactured Homes 3.6% 2.0% 1.6%
Single Family Homes 3.2% 1.5% 1.6%
Specialty 1.7% 5.3% -3.7%
Infrastructure Reits 1.1% - -
Diversified 1.1% 5.9% -4.8%
Home Financing 1.0% - -
Asset Allocation Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Equity 98.7% 100.0% -1.3%
Market Cap Real Estate Fund FTSE NAREIT Equity REITs TR Index Overweight / Underweight
Mid 52.8% 50.6% 2.2%
Large 37.7% 34.4% 3.2%
Small 8.3% 15.0% -6.7%
Analytics
(As of 09/30/2018)

Morningstar 09/30/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
222
Category
Real Estate
Performance Statistics
3Y
5Y
Alpha
-0.83
0.13
Beta
0.94
0.97
Information Ratio
-0.64
-0.06
R-Squared
97.61
98.03
Sharpe Ratio
0.50
0.68
Standard Deviation
11.91
13.16
Sortino Ratio
0.85
1.16
Tracking Error
2.01
1.89
Distribution Rate
Distribution
2.82%
Adjusted Distribution
1.91%
Portfolio Characteristics
Fund
Fund Index
P/E Ratio (LTM)
32.99
31.53
P/E Ratio (NTM)
37.88
36.25
Price/Book
2.31
2.27
Turnover Ratio
84%
-
Dividends
  • D
Est. Frequency
Quarterly
Last Pay Date
9/19/2018
Per Share ($)
$0.1760
12-Month Distribution ($)
$0.4503
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. The Fund's portfolio managers are employed by its Sub-Sub-Adviser, Barings LLC.
  2. 2. Investments in real estate companies, including REITs or similar structures, are subject to volatility and risk. Smaller real estate companies may also be subject to liquidity risk. Small-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized company, if any gain is realized at all. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer.
  3. 3. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million.  Class I shares are sold at net asset value without a sales charge.  Please see Fund prospectuses for additional information.
  4. 4. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less.  These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  5. 5. The FTSE National Association of Real Estate Investment Trusts (NAREIT) Equity REITs Index consists of certain companies that own and operate income-producing real estate that have 75% or more of their respective gross invested assets in the equity or mortgage debt of commercial properties. The index is unmanaged, includes the reinvestment of dividends and cannot be purchased directly by investors. Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  6. 6. Holdings are subject to change, and are dollar weighted based on total new assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the Fund’s net asset value and fluctuations of dividends and distributions paid by the Fund.
  7. 7. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund's prospectus.
  8. 8. The dividend (or distribution) rate is based on the pay date immediately preceding the nearest month-end or quarter-end. The dividend rate for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date. For the Class A dividend rate with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date. Each result is compounded semiannually and annualized. Falling share prices artificially increase distribution rates.
  9. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  10. B. The performance data quoted represents past performance, which does not guarantee future results.  The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  11. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund).  These returns would be lower if sales charges were taken into consideration.  Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  12. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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