Easterly Global Real Estate Fund Morningstar Rating
| Overall | 3-Year | 5-Year | 10-Year | |
|---|---|---|---|---|
| Morningstar Star Rating | 4 | 3 | 3 | 4 |
| # Funds in Category | 184 | 184 | 174 | 108 |
Morningstar Rating as of February 28, 2023
Category: Global Real Estate
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The Morningstar Rating™ for funds or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics.
Morningstar Rating is for the I share class only; other classes may have different performance characteristics.
Past performance is not a guarantee nor a reliable indicator of future results. As with any investment, there are risks. There is no assurance that any portfolio will achieve its investment objective.
Mutual funds involve risk, including possible loss of principal. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other information is contained in the Fund’s prospectus, which can be obtained by calling 888.814.8180 and should be read carefully before investing.
The Easterly Funds are distributed by Ultimus Fund Distributors, LLC, member FINRA/SIPC. Easterly Funds, LLC, Easterly Investment Partners, LLC, Ranger Global Real Estate Advisors, LLC, FDX Capital LLC, EAB Investment Group, LLC and Orange Investment Advisors, LLC are not affiliated with Ultimus Fund Distributors, LLC.
Incorporating alternative investments into a portfolio presents the opportunity for significant losses including in some cases, losses which exceed the principal amount invested. Also, some alternative investments have experienced periods of extreme volatility and in general, are not suitable for all investors. Asset allocation and diversification strategies do not ensure profit or protect against loss in declining markets.
IMPORTANT FUND RISK INFORMATION
Portfolio holdings are subject to change and should not be considered investment advice.
Source: Ranger Global Real Estate Advisors, LLC.
There is no assurance that the portfolio will achieve its investment objective. The Fund is subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment. Risks of one’s ownership are similar to those associated with direct ownership of real estate, such as changes in real estate values, interest rates, cash flow of underlying real estate assets, supply and demand and the creditworthiness of the issuer. International investing poses special risks, including currency fluctuations and economic and political risks not found in investments that are solely domestic. Options involve risk and are not suitable for all investors. Writing a covered call option allows the fund to receive a premium (income) for giving the right to a third party to purchase shares that the Fund owns in a given company at a set price for a certain period of time. There is no guarantee of success for any options strategy. Increased portfolio turnover may result in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Investments in lesser-known, small and medium capitalization companies may be more vulnerable to these and other risks than larger, more established organizations.
IMPORTANT FUND RISK INFORMATION
112-Month Distribution Rate is calculated by adding the Easterly Global Real Estate Fund’s trailing 12-month income distributions and dividing the sum by the Fund’s most recent month ended NAV. The Easterly Global Real Estate Fund may pay distributions in excess of its net investment company taxable income and to the extent this occurs, the distribution yield quoted will include a return of capital. However, please note that distributions are subject to recharacterization for tax purposes and the final tax treatment of these distributions will be reported to shareholders after the close of each calendar year on form 1099-DIV.
2The SEC yield is calculated by dividing annualized net investment income per share during a 30-day period by the maximum offering price per share as of the close of that period. SEC yield reflects the rate at which the Fund is earning income on its current portfolio of securities. Since certain distributions received by the Funds from real estate investment trusts (REITs) may consist of dividend income, return of capital and capital gains, and the character of these distributions cannot be determined until after the end of the year, the SEC yield has been adjusted for the Funds that invest significantly in REITs based on estimates of return of capital and capital gains. The SEC 30-Day Yield is computed under an SEC standardized formula and is based on the maximum offer price per share. Subsidized (Sub.) yields reflect fee waivers in effect. Without such waivers, yields would be reduced. Unsubsidized yields do not reflect fee waivers in effect. The Fund’s management has contractually waived a portion of its management fees until March 19, 2023.
312-Month Distribution Rate will fluctuate from month to month and is not equivalent to the subsidized or unsubsidized 30-day SEC yield of the Fund. You should consult each Fund’s prospectus for additional information about the Fund’s dividends and distributions policy.
412-Month Distribution Rate for the Fund may vary significantly year-over-year due to tax adjustments and are subject to change from the yields quoted. No distribution is guaranteed by the Fund.
5A Shares do not currently have a fee waiver in effect.
The Fund’s distribution rate may be affected by numerous factors, including changes in realized and projected market returns, Fund performance and other factors. There can be no assurance that an unanticipated change in market conditions or other unforeseen factors will not result in a change in the Fund’s distribution rate at a future time. The distribution rate does not reflect other non-income items.
There is no assurance that the portfolio will achieve its investment objective. The Fund is subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment. Risks of one’s ownership are similar to those associated with direct ownership of real estate, such as changes in real estate values, interest rates, cash flow of underlying real estate assets, supply and demand, and the creditworthiness of the issuer. International investing poses special risks, including currency fluctuations and economic and political risks not found in investments that are solely domestic. Options involve risk and are not suitable for all investors. Writing a covered call option allows the fund to receive a premium (income) for giving the right to a third party to purchase shares that the Fund owns in a given company at a set price for a certain period of time. There is no guarantee of success for any options strategy. Increased portfolio turnover may result in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Investments in lesser-known, small and medium capitalization companies may be more vulnerable to these and other risks than larger, more established organizations.
Must be proceeded or accompanied by a prospectus.
Rankings are only one form of performance measurement.
Easterly Funds, LLC and Easterly Investment Partners, LLC both serve as the Advisors to the Easterly Fund family of mutual funds and related portfolios. Both Easterly Funds, LLC and Easterly Investment Partners, LLC are registered as investment advisers with the SEC. Please consider the charges, risks, expenses and investment objectives carefully before investing. Please see a prospectus, or if available, a summary prospectus containing this and other important information. Read it carefully before you invest or send money. Mutual Funds are distributed by Ultimus Fund Distributors, LLC, member FINRA/SIPC. Although Easterly Funds, LLC and Easterly Investment Partners, LLC are registered investment advisers, registration itself does not imply and should not be interpreted to imply any particular level of skill or training.
The views and opinions expressed herein are those of Easterly’s senior management and may change at any time without prior notification. This website contains information from sources we believe are reliable. However, we are not responsible for the for the accuracy of such information. The information contained on this website is not an offer or a solicitation of an offer to purchase or sell any securities mentioned herein.
16012765-UFD 11/21/2022