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ASTON/Harrison Street Real Estate Fund

 NI
CUSIP 00078H62000080Y108
Ticker ARFCXAARIX
Share Class Inception 12/30/19979/20/2005
Gross Exp Ratio (%) 2.161.91
Net Exp Ratio (%) 1.371.12
NAV12.5112.44
NAV Change (%) 0.56 0.56
Dividend Frequency Annual
Benchmarks MSCI U.S. REIT Gross TR Index
FTSE/NAREIT All Equity REIT Index
Morningstar Category Real Estate

Overall Morningstar Rating

ASTON/Harrison Street Real Estate  Shares received a Morningstar rating.

Among 234 Real Estate funds derived from a weighted average of the Fund’s 3-, 5- and 10-year risk-adjusted returns as of 4/30/15.

Portfolio Managers

Reagan  Pratt
Reagan Pratt

Reagan Pratt

Reagan  Pratt

Mr. Pratt is a Principal and member of the Board of Managers of Harrison Street Securities, LLC., and has been Co-Portfolio Manager of the Fund since June 2011. Prior to co-founding the firm with Mr. Kammert in 2005, he was a portfolio manager with Heitman Real Estate Securities LLC. He has a bachelor’s degree in economics and geography from the University of Guelph (Ontario, Canada) and a Master of Science Business Administration (Urban Land Economics) from the University of British Columbia (British Columbia, Canada).

James  Kammert, CFA
James Kammert, CFA

James Kammert, CFA

James  Kammert, CFA

Mr. Kammert is a Principal and member of the Board of Managers of Harrison Street Securities, LLC., and has been Co-Portfolio Manager of the Fund since June 2011. Prior to co-founding the firm with Mr. Pratt in 2005, he was Director of Research for European Investors, Inc. Previously, he was Vice President and co-head of Goldman Sachs & Co.’s U.S. REIT research team for more than four years. He graduated from Lafayette College with a BA in Economics & Business and earned his MBA from the University of Chicago, and holds the Certified Public Accountant and Chartered Financial Analyst designations.

Investment Strategy

The ASTON/Harrison Street Real Estate Fund focuses on finding attractive investment opportunities in public real estate securities using proprietary bottom-up research and a blend of two valuation techniques.

If you are an investment professional, login or register here for access to Aston’s research content. Discover the unique qualities that differentiate our Subadvisers at both the firm and strategy levels.  

Objective

The Fund seeks total return through a combination of growth and income.

Risk Considerations

The Fund is classified as non-diversified and may be more susceptible to risk than funds that invest more broadly. In addition REITs may decline from deteriorating economic conditions, changes in the value of the underlying property, and defaults by borrowers. Small- and mid-cap equities are considered riskier than large-cap equities due to greater potential volatility and less liquidity.

Fund Stats (as of 3/31/15) N SharesI Shares
Origin Of Information Harrison Street SecuritiesHarrison Street Securities
Sales Load NoneNone
Total Net Assets (5/21/15)$11,971,403.91$688,403.48
Turnover N/AN/A
Minimum Investment 2,5001,000,000
Alpha (3 yr.) N/AN/A
Beta (3 yr.) N/AN/A
R-Squared (3 yr.) N/AN/A
Standard Dev (3 yr.) N/AN/A
Sharpe Ratio (3 yr.) N/AN/A
Current Wtd Average P/E (trailing) 0.000.00
Current Wtd Average P/B (trailing) 0.000.00
Median Mkt Cap ($Mil) 5,2545,254
Average Wtd Coupon N/AN/A
Effective Maturity N/AN/A
Sector Breakdown (as of 4/30/15)
Retail
20.94%
Diversified
19.49%
Health Care
16.06%
Residential
13.72%
Office Properties
10.27%
Self Storage
9.64%
Hotels
6.87%
Industrials
2.56%
Cash Equivalents & Other
0.46%
Top 10 Holdings (as of 4/30/15)
CompanyTickerCUSIPNumber of SharesMarket Value% of Net Assets
SIMON PROPERTY GROUP INC SPG 828806109 7,053 $1,280,048.97 9.99%
AMERICAN TOWER CORP AMT 03027X100 8,924 $843,585.72 6.58%
VENTAS INC VTR 92276F100 10,770 $742,053.00 5.79%
EXTRA SPACE STORAGE INC EXR 30225T102 10,566 $696,616.38 5.43%
EQUITY RESIDENTIAL EQR 29476L107 9,392 $693,693.12 5.41%
BOSTON PROPERTIES INC BXP 101121101 4,607 $609,552.17 4.75%
ESSEX PROPERTY TRUST INC ESS 297178105 2,482 $550,879.90 4.29%
SOVRAN SELF STORAGE INC SSS 84610H108 6,168 $538,713.12 4.20%
UDR INC UDR 902653104 15,647 $512,752.19 4.00%
SL GREEN REALTY CORP SLG 78440X101 3,994 $488,705.84 3.81%
Past performance does not guarantee future results. Investment return and principal value of mutual funds will vary with market conditions, so that shares, when redeemed, may be worth more or less than their original cost.

As the fund is actively managed, the securities as presented may not represent the current or future composition of the portfolio.

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