Bluerock Fund Advisor Wins the Prestigious 2023 Asset Manager of the Year Award from Money Management Institute / Barron’s
New York, NY (October 19, 2023) – Bluerock Fund Advisor and the Bluerock Total Income+ Real Estate Fund (“Bluerock TI+ Fund,” “Fund,” “TI+,” tickers: TIPRX, TIPPX, TIPWX, TIPLX, TIPMX), the largest real estate sector interval fund, today announced it has won the Money Management Institute (MMI) / Barron’s Asset Manager of the Year (AUM <$25B) Award for 2023. The award seeks to recognize innovation and leadership in the investment advisory solutions industry and honors the asset manager that exemplifies innovation in delivering better outcomes for investors and financial advisors.
“We are pleased to win this prestigious award and on behalf of our shareholders, receive recognition from MMI/Barron’s and our peers, for our team’s hard work and dedication in delivering high risk-adjusted returns over the past 11 years in the Bluerock Total Income+ Real Estate Fund,” said Ramin Kamfar, Founder and CEO of Bluerock, and Chairman of the Bluerock TI+ Fund. “As a pioneer of the interval fund structure within the broker dealer, RIA and other intermediary distribution channels, we are proud to have delivered the proof of concept to pave the way for what is now a $69 billion interval fund industry with approximately 90 active funds.1 We have demonstrated that institutional private real estate is an essential portfolio diversifier in individual investor portfolios and can deliver consistent, attractive returns with low volatility,” added Kamfar.
Since inception, TI+ has delivered on its stated objectives, including generating current income and capital appreciation as well as maintaining low correlation and low volatility relative to the broader markets. Further, the Bluerock TI+ Fund has generated the highest annualized Sharpe and Sortino Ratio (measures of risk-adjusted returns) of all domestic ’40 Act open end, closed end, and exchange traded U.S. mutual funds in the 10-year and since inception periods ending 9.30.23 with a 7.40% annualized return since inception and a low annualized standard deviation of 1.85%.2
The Bluerock TI+ Fund’s net assets under management are approximately $6.0 billion as of September 30, 2023 making it the largest real estate focused 1940 Act interval fund in the industry. TI+ currently maintains positions in 34 private equity and 4 private debt real estate investments, with underlying assets valued at approximately $382 billion and exposure to more than 7,100 properties (holdings are subject to change at any time and should not be considered investment advice).3
1 Source: Intervalfundtracker.com, as of October 2023.
2 Source: Results reflect the A share, the Fund’s longest running share class. Source: Morningstar Direct, annualized Sharpe and Sortino Ratios based on daily data from 10.22.2012-9.30.2023. Using Morningstar data compiled by Bluerock Fund Advisor, LLC, the Fund (TIPRX, no load) and TIPWX generated the highest Sharpe and Sortino Ratio in the 10-year and since inception periods among 6,181 and 5,883 open end, closed end, and exchange traded U.S. mutual funds, respectively. Sharpe Ratio, Sortino Ratio and standard deviation are only three forms of performance measure. Please see definitions of open-end, closed-end, and exchange-traded fund structures below. Morningstar Direct, TIPRX (A-share). Past Performance is no guarantee of future results. Short term performance is not necessarily indicative of long-term performance.
3 For detailed Fund holdings, please visit bluerock.com/ti-fund/investment-holdings.
TI+ Fund A-Share & I-Share Fund Net Performance
|TI+ Fund Class A|
|TI+ Fund Class A with Max Sales Charge5|
|TI+ Fund Class I|
Returns presented are total net return: Expressed in percentage terms, the calculation of total return is determined by taking the change in price, reinvesting, if applicable, all income and capital gains distributions during the period, and dividing by the starting price. Returns greater than one year are annualized.
4 Inception date of the Fund is October 22, 2012.
5 The maximum sales charge for the Class A shares is 5.75%. Investors may be eligible for a waiver or a reduction in the sales charge.
The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month end, please call toll-free 1-888-459-1059. Past performance is no guarantee of future results.
The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, is 2.04% for Class A, 2.74% for Class C, 1.78% for Class I, 2.29% for Class L, and 2.56% for Class M. The Fund’s investment advisor has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until January 31, 2024 for Class A, C, I, L and M shares, to ensure that the net annual fund operating expenses will not exceed 1.95% for Class A, 2.70% for Class C and 1.70% for Class I, 2.20% for Class L and 2.45% for Class M, per annum of the Fund’s average daily net assets attributable to Class A, Class C, Class I, Class L, and Class M shares, respectively, subject to possible recoupment from the Fund in future years. Please review the Fund’s Prospectus for more detail on the expense waiver. A fund’s performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. Fund performance and distributions are presented net of fees.
About Bluerock Total Income+ Real Estate Fund
The Bluerock Total Income+ Real Estate Fund offers individual investors access to a portfolio of institutional real estate securities managed by top-ranked fund managers. The Fund seeks to provide a comprehensive real estate holding designed to provide a combination of current income, capital preservation, long-term capital appreciation and enhanced portfolio diversification with low to moderate volatility and low correlation to the broader equity and fixed income markets. The Fund utilizes an exclusive partnership with Mercer Investment Management, Inc., the world’s leading advisor to endowments, pension funds, sovereign wealth funds and family offices globally, with over 3,300 clients worldwide, and over $16.8 trillion in assets under advisement.
The Bluerock Total Income+ Real Estate Fund is a closed-end interval fund that invests the majority of its assets in institutional private equity real estate securities that are generally available only to institutional investors capable of meeting the multi-million dollar minimum investment criteria. As of Q3 2023, the value of the underlying real estate held by the securities in which the Fund is invested is approximately $382 billion, including investments managed by Ares, Blackstone, Morgan Stanley, Principal, Prudential, Clarion Partners, Invesco and RREEF, among others. The minimum investment in the Fund is $2,500 ($1,000 for retirement plans) for Class A, C, and L shares and $1,000,000 for Class I shares, subject to waiver.
Investing in the Bluerock Total Income+ Real Estate Fund involves risks, including the loss of principal. The Fund intends to make investments in multiple real estate securities that may subject the Fund to additional fees and expenses, including management and performance fees, which could negatively affect returns and could expose the Fund to additional risk, including lack of control, as further described in the prospectus.
Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for no less than 5% of the Fund’s shares outstanding at net asset value. There is no guarantee that shareholders will be able to sell all of the shares they desire in a quarterly repurchase offer. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund’s net asset value.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Bluerock Total Income+ Real Estate Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained online at bluerockfunds.com. The prospectus should be read carefully before investing.
The Bluerock Total Income+ Real Estate Fund is distributed by ALPS Distributors, Inc (ALPS). Bluerock Fund Advisor, LLC is not affiliated with ALPS.
An open-end fund is a type of mutual fund that does not have restrictions on the amount of shares the fund can issue. The majority of mutual funds are open-end, providing investors with a useful and convenient investing vehicle. Shares are bought and sold on demand at their net asset value (NAV), which is based on the value of the fund’s underlying securities and is calculated at the end of the trading day.
A closed-end fund is organized as a publicly traded investment company by the Securities and Exchange Commission (SEC). Like a mutual fund, a closed-end fund is a pooled investment fund with a manager overseeing the portfolio; it raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange. Unlike open-end funds, closed-end funds trade just like stocks. While open-end funds are priced only once at the end of the day, closed-end funds are traded and priced throughout the day. Closed-end funds also require a brokerage account to buy and sell, while an open-end fund can often be purchased directly through a fund provider.
An ETF, or exchange-traded fund, is a marketable security that tracks a stock index, a commodity, bonds, or a basket of assets. Although similar in many ways, ETFs differ from mutual funds because shares trade like common stock on an exchange. The price of an ETF’s shares will change throughout the day as they are bought and sold. The largest ETFs typically have higher average daily volume and lower fees than mutual fund shares which makes them an attractive alternative for individual investors.
Sharpe Ratio is a measure of the return of an investment based on the level of risk (volatility). A higher number indicating a higher return per unit of risk.
Standard Deviation measures volatility by calculating the daily dispersion of returns from the mean.
Sortino Ratio is a measure of the return of an investment based on the level of downside volatility. A higher number indicates a higher return per unit of downside.