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Total Income+ Real Estate Fund Announces 2013 Total Returns of 13.61%

February 4, 2014 / 2014 Press Release

Bluerock’s Total Income+ Real Estate Fund (ticker: TIPRX, or “TI+”) today announced results for the year of 2013, reporting a total return of 13.61%.*

2013 was the first full calendar year for TI+, which launched in October 2012. TI+, which has attracted a steadily-growing investor base, recently surpassed $50MM in assets under management. In the fourth quarter of last year it announced its intent to distribute a 5.25% quarterly dividend.

TI+ provides investors access to a diversified portfolio of leading private equity real estate funds generally accessible only to institutional investors who are large enough accommodate these funds’ multi-million dollar minimum investment criteria. Underlying assets of the funds in which TI+ is currently invested exceed, in aggregate, $31 billion, and funds include, among others, AEW Core Property Trust, Blackrock Granite Property Fund, RREEF America REIT II, Clarion Lion Properties Fund, and the Principal Enhanced Property Fund.

The minimum investment for TI+ investors, is $2,500 ($1,000 for retirement plans) and TI+ offers liquidity to investors quarterly, with NAV published daily.

TI+ is sub-advised by Mercer Investment Management, Inc., the world’s leading advisor to endowments, pension funds, sovereign wealth funds and family offices. Mercer, which has $6.6 trillion in assets under advisement, and more than 3,000 clients worldwide, works closely with Bluerock on fund selection and strategy.

*From January 1, 2013 to December 31, 2013, TI+ reported a total return of 13.61% (excluding sales load) and 7.05% (with the highest possible sales load). From inception through the last calendar quarter, ending March 31, 2014, returns for Class A shares ranged from 11.20% (excluding sales load) to 6.70% (including maximum sales load). One year fund performance, as of March 31, 2014, was 12.02% and 5.57% (with maximum load). We note that for our first year only, the advisor, and not the Fund, paid Fund expenses and waived management fees. The maximum sales charge for the fund is 5.75%, total annual operating expenses are 5.07% for its initial startup year, which were fully paid by the Sponsor.

Investors may be eligible for a reduction in sales charges.

This is an actively managed dynamic portfolio. There is no guarantee that any investment (or this investment) will achieve its objectives, goals, generate positive returns, or avoid losses. The performance data quoted herein 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. Past performance is no guarantee of future results. The fund’s investment advisor has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until March 31, 2015, to ensure that the net annual fund operating expenses will not exceed 1.95%, subject to possible recoupment from the fund in future years. Please review the fund’s prospectus for more detail on the expense waiver. Results shown reflect the full fee waiver, without which the results could have been lower. A fund’s performance, especially for very short periods of time, should not be the sole factor in making your investment decisions.

For copies of TI+ public company filings, please visit the U.S. Securities and Exchange Commission’s website at www.sec.gov or the Company’s website at www.bluerockfunds.com.

About Total Income+ Real Estate Fund
The TI+ 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.

Investing in the 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. There can be no assurance that any investment will be effective in achieving the Fund’s investment objectives, delivering positive returns or avoiding losses.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Total Income+ Real Estate Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 888-459-1059. The prospectus should be read carefully before investing. Bluerock Fund Advisor, LLC is not affiliated with Northern Lights Distributors, LLC. 3038-NLD-4/16/2014



An investment in any share class of the Fund represents an investment in the same assets of the Fund. However, the purchase restrictions and ongoing fees and expenses for each share class are different – See “Summary of Fund Expenses” – located in the Fund’s prospectus. If an investor has hired an intermediary and is eligible to invest in more than one class of shares, the intermediary may help determine which share class is appropriate for that investor. When selecting a share class, you should consider which Share classes are available to you, how much you intend to invest, how long you expect to own shares, and the total costs and expenses associated with a particular share class. You should speak with your financial advisor to help you decide which share class is best for you. 

The ability of the Fund to achieve its investment objective depends, in part, on the ability of the Advisor to allocate effectively the Fund’s assets across the various asset classes in which it invests and to select investments in each such asset class. There can be no assurance that the actual allocations will be effective in achieving the Fund’s investment objective or delivering positive returns.

Liquidity provided through quarterly repurchase offers for no less than 5% of the Fund’s shares at net asset value. There is no guarantee that an investor will be able to sell all shares in the repurchase offer. An investment in the Fund is suitable only for investors who can bear the risks associated with the limited liquidity of the shares and should be viewed as a long-term investment. Before making your investment decision, you should (i) consider the suitability of this investment with respect to your investment objectives and personal financial situation and (ii) consider factors such as your personal net worth, income, age, risk tolerance and liquidity needs. The organizations referenced above are not associated with or invested in Bluerock or the Bluerock Total Income+ Real Estate Fund. The list includes a sampling of organizations that held investments in at least two of the underlying portfolio holdings as of the date published. A complete list is available upon request. These organization’s investment holdings are subject to change at any time.

An investment in shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. The Fund is “non-diversified” under the Investment Company Act of 1940 and therefore may invest more than 5% of its total assets in the securities of one or more issuers. As such, changes in the financial condition or market value of a single issuer may cause a greater fluctuation in the Fund’s net asset value than in a “diversified” fund. The Fund is not intended to be a complete investment program.

The Fund is subject to the risk that geopolitical and other similar events will disrupt the economy on a national or global level. For instance, war, terrorism, market manipulation, government defaults, government shutdowns, political changes or diplomatic developments, public health emergencies (such as the spread of infectious diseases, pandemics and epidemics) and natural/environmental disasters can all negatively impact the securities markets.

The Fund will concentrate its investments in real estate industry securities. The value of the Fund’s shares will be affected by factors affecting the value of real estate and the earnings of companies engaged in the real estate industry. These factors include, among others: (i) changes in general economic and market conditions; (ii)changes in the value of real estate properties; (iii) risks related to local economic conditions, overbuilding and increased competition; (iv) increases in property taxes and operating expenses; (v) changes in zoning laws; (vi)casualty and condemnation losses; (vii) variations in rental income, neighborhood values or the appeal of property to tenants; (viii) the availability of financing; (ix) climate change; and (x) changes in interest rates. Many real estate companies utilize leverage, which increases investment risk and could adversely affect a company’s operations and market value in periods of rising interest rates. The value of securities of companies in the real estate industry may go through cycles of relative under-performance and over-performance in comparison to equity securities markets in general.

A significant portion of the Fund’s underlying investments are in private real estate investment funds managed by institutional investment managers (“Institutional Investment Funds”). Investments in Institutional Investment Funds pose specific risks, including: such investments require the Fund to bear a pro rata share of the vehicles’ expenses, including management and performance fees; the Advisor and Sub-Advisor will have no control over investment decisions may by such vehicle; such vehicle may utilize financial leverage; such investments have limited liquidity; the valuation of such investment as of a specific date may vary from the actual sale price that may be obtained if such investment were sold to a third party.

Additional risks related to an investment in the Fund are set forth in the “Risk Factors” section of the prospectus, which include, but are not limited to the following: convertible securities risk; correlation risk; credit risk; fixed income risk; leverage risk; risk of competition between underlying funds; and preferred securities risk.

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.

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