ASTON/Harrison Street Real Estate Fund
|Share Class Inception||12/30/1997||9/20/2005|
|Gross Exp Ratio (%)||2.16||1.91|
|Net Exp Ratio (%)||1.37||1.12|
|NAV Change (%)||0.08||0.17|
MSCI U.S. REIT Gross TR Index
FTSE/NAREIT All Equity REIT Index
|Morningstar Category||Real Estate|
Overall Morningstar Rating™
Among 232 Real Estate funds derived from a weighted average of the Fund’s 3-, 5- and 10-year risk-adjusted returns as of 7/31/15.
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
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.
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.
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The Fund seeks total return through a combination of growth and income.
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 6/30/15)||N Shares||I Shares|
|Origin Of Information||Harrison Street Securities||Harrison Street Securities|
|Total Net Assets (8/28/15)||$10,419,754.52||$608,694.22|
|Alpha (3 yr.)||-2.66||-2.40|
|Beta (3 yr.)||0.98||0.98|
|R-Squared (3 yr.)||98.63||98.68|
|Standard Dev (3 yr.)||12.58||12.54|
|Sharpe Ratio (3 yr.)||0.53||0.55|
|Current Wtd Average P/E (trailing)||0.00||0.00|
|Current Wtd Average P/B (trailing)||0.00||0.00|
|Median Mkt Cap ($Mil)||5,535||5,535|
|Average Wtd Coupon||N/A||N/A|
|Sector Breakdown (as of 7/31/15)|
|Cash Equivalents & Other|
|Top 10 Holdings (as of 7/31/15)|
|Company||Ticker||CUSIP||Number of Shares||Market Value||% of Net Assets|
|SIMON PROPERTY GROUP INC||SPG||828806109||6,185||$1,157,955.70||9.97%|
|AMERICAN TOWER CORP||AMT||03027X100||7,756||$737,673.16||6.35%|
|BOSTON PROPERTIES INC||BXP||101121101||5,085||$626,878.80||5.40%|
|HEALTH CARE REIT INC||HCN||42217K106||8,973||$622,457.01||5.36%|
|ESSEX PROPERTY TRUST INC||ESS||297178105||2,625||$590,388.75||5.08%|
|SL GREEN REALTY CORP||SLG||78440X101||4,839||$557,162.46||4.80%|
|OMEGA HEALTHCARE INVESTORS INC||OHI||681936100||11,580||$419,890.80||3.61%|
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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