Liquidity: By owning real estate securities you are provided the daily liquidity and transparency not found in the ownership of direct real estate assets. Buying and selling can happen in moments vs. days, weeks or even months, providing the flexibility to move in and out of property types and locations as market conditions change.

Current Income1: REITs are required to pay out 90% of their net income to shareholders in the form of dividends. Historically, investors have used REITs as a vehicle for generating yield in their portfolios. Our strategy seeks to enhance portfolio income and deliver higher current returns using conservative covered call-writing and dividend capture strategies.

Diversification: The portfolio is global in nature, providing an indirect ownership interest in over 10,000 income-producing properties in the US and other developed countries around the world. The Fund’s holdings are diversified by both property type and geography, providing investors with a wide range of exposure to institutional quality real estate.

Potential Hedge Against Inflation: As a “hard asset” real estate has historically provided investors with a hedge against inflationary pressure. As interest rates and inflationary pressure increase, owners of commercial real estate have historically been able to raise rents to offset the negative impacts of inflation.

Low Correlation: The portfolio’s investments in REITs may combine equity-like return potential with regular income and offer low historic correlation to stocks and bonds.


Dividend capture strategies involve purchasing a security shortly before it pays a dividend with the goal of selling the security shortly after the dividend is paid at a price near or above the original purchase price. Writing (i.e. selling) a call option provides to the option buyer the right (but not obligation) to buy a security at a set price (the “strike price”).

Writing a call generates income in the form of the premium paid by the option buyer. If the stock price does not exceed the strike price before the option expires (the “contract term”), then the writer will be able to retain the premium as a profit, and will also retain the stock. A near-term contract typically expires within 60 days. If the price exceeds the strike price during the term, the security may be “called away” or bought by the purchaser of the option at the strike price. The risk of stock ownership is not eliminated.