Fund Description
Overview
- Invests primarily in equity securities of small, mid and large-cap real estate companies, including Real Estate Investment Trusts (REITs) and similar entities
- Invests primarily in companies located in Europe, including Austria, Finland, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom
- Combines top-down region and sector allocation with bottom-up individual stock selection
Investment Objective
The Fund seeks to provide investors with high total return, consisting of capital appreciation and current income.
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Management Team
T. Ritson Ferguson, CFA
Chief Investment Officer, Portfolio Manager
Managed Fund since 2007
Steven D. Burton, CFA
Managing Director, Portfolio Manager
Managed Fund since 2007
View Detailed Information
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Most Recent Month-End
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Most Recent Quarter-End
| As of 06/30/2010 |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(11/2007) |
Gross
Exp. |
Net
Exp.1, 2 |
| Net Asset Value |
-19.06 |
+15.90 |
— |
— |
— |
-16.72 |
3.85% |
1.76% |
| With Sales Charge |
-23.70 |
+9.13 |
— |
— |
— |
-18.55 |
|
|
| As of 06/30/2010 |
YTD |
1 YR |
3 YR |
5 YR |
10 YR |
Inception
(11/2007) |
Gross
Exp. |
Net
Exp.1, 2 |
| Net Asset Value |
-19.06 |
+15.90 |
— |
— |
— |
-16.72 |
3.85% |
1.76% |
| With Sales Charge |
-23.70 |
+9.13 |
— |
— |
— |
-18.55 |
|
|
View Detailed Performance
1 The Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, brokerage, and extraordinary expenses and is subject to possible recoupment. Please see the Fund's prospectus for more information.
2 The expense limits will continue through at least March 1, 2011. Expenses are being waived to the contractual cap.
Past performance is no guarantee of future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
SEC fund returns assume the reinvestment of dividends and capital gain distributions and include a sales charge. Net Asset Value fund returns assume the reinvestment of dividends and capital gain distributions. Total return for less than one year is not annualized. Results would have been less favorable if the sales charge were included.
It is important to note that the Fund has a limited operating history. Performance over a longer period of time may be more meaningful than short-term performance.
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Investing in stocks of Small- and Mid-Sized Companies may entail greater volatility and less liquidity than larger companies. Concentration of investments in one or more real estate industries, may subject the Fund to greater volatility than a portfolio which is less concentrated. Emerging Market stocks may be especially volatile. Price Volatility, liquidity and other risks that accompany an investment in European Real Estate Equities. Risks of the REIT's are similar to those associated with direct ownership of Real Estate, such as changes in real estate values and property taxes, interest rates, cash flow of underlying real estate assets, supply and demand, and the management skill and credit worthiness of the issuer. Other risks of the Fund include but are not limited to: Convertible Securities Risks; Rule 144A Securities Risks; Initial Public Offerings Risks; Market Trends Risks; Non-Diversification Risks; Other Investment Companies Risks; Inability to Sell Securities Risks; Portfolio Turnover Risks; and Securities Lending Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.