Fund Description

The fund seeks long-term capital appreciation and current income by investing, under normal circumstances, at least 80% of net assets in equity securities of real estate and real estate-related companies, and concentrating at least 25% of total assets in issuers principally engaged in real estate activities. It invests in equity-related securities of U.S. and foreign real estate companies and does not invest directly in real estate. Holdings are generally primarily REITs or U.S. or non-U.S. REIT-like companies, with no limit on REIT exposure, and may include REITs investing in real estate-related loans and real estate operating companies. It uses a multi-manager approach in which NTI allocates the fund's assets to one or more sub-advisers in percentages determined at NTI's discretion, and each sub-adviser acts independently while operating within the fund's objective, strategies, and restrictions.