Fund Description

The fund normally invests at least 80% of its net assets in equity securities of REITs and in common stocks and other securities of real estate companies, defined as firms with at least 50% of revenue from, or at least 50% of assets in, real estate, and concentrates in the real estate industry, at times emphasizing specific sub-sectors. It may invest up to 20% in debt securities of real estate companies, including below investment grade issues rated at least B (or deemed comparable if unrated). The managers use fundamental analysis, consider financially material ESG factors where applicable, may trade actively, and the fund is non-diversified.