Fund Description

The fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities of issuers principally engaged in the real estate industry or real estate financing, or that control real estate assets equal to at least 50% of their assets. It concentrates in real estate companies and may invest all assets there, though it may temporarily invest less than 25% during adverse real estate conditions. Holdings may include common and preferred stocks, REITs, rights, and warrants; up to 35% may be foreign securities, and it may invest across market capitalizations. The adviser emphasizes equity securities with high dividend yields and perceived potential for earnings growth, focusing on dividends supported by underlying assets and earnings, and considers ESG factors alongside other considerations. The fund is non-diversified.