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AEMEX Alpine Emerging Markets Rel Est Instl

  • Fund
  • AEMEX
  • Price as of: Aug 30, 2017
  • $16.19
  • - $0.00
  • - 0.00%
  • Category
  • Global Real Estate

AEMEX - Profile

Vitals

  • YTD Return 25.7%
  • 3 Yr Annualized Return 0.1%
  • 5 Yr Annualized Return 4.1%
  • Net Assets $4.39 M
  • Holdings in Top 10 32.2%

52 WEEK LOW AND HIGH

$16.19
N/A
N/A

Expenses

OPERATING RELATED FEES

  • Expense Ratio 3.33%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 67.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

Closed to new investors as of 2017-06-22

STANDARD (TAXABLE)

$1,000,000

IRA

$1,000,000

Investment Themes

CATEGORY

Global Real Estate
  • Fund Type Open End Mutual Fund
  • Investment Style Global Real Estate

Distributions

  • YTD Total Return 25.7%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 4.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.73%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Alpine Emerging Markets Real Estate Fund
  • Fund Family Name Alpine
  • Inception Date Nov 03, 2008
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Samuel A. Lieber

Fund Description

The fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of U.S. and non-U.S. issuers which (i) are principally engaged in the real estate industry, (ii) are principally engaged in real estate financing or (iii) control real estate assets with an aggregate estimated value equal to no less than 50% of such issuer's assets. It may invest without limitation in the securities of foreign issuers that are publicly traded in the United States or on foreign exchanges.

AEMEX - Performance

Return Ranking - Trailing

Period AEMEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 25.7% -34.4% 25.7% 0.55% 1
1 Yr 15.7% -38.5% 15.7% 1.09% 1
3 Yr 0.1% * -1.6% 8.3% 98.86% 5
5 Yr 4.1% * -0.8% 9.7% 70.86% 4
10 Yr N/A * -1.2% 14.3% N/A N/A

* Annualized


Return Ranking - Calendar

Period AEMEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -9.7% -19.8% 30.7% 90.71% 5
2016 -10.8% -51.8% 42.6% 84.80% 5
2015 5.2% -44.3% 12.6% 2.92% 1
2014 -17.6% -17.6% 19.4% 86.39% 5
2013 37.2% -9.5% 43.2% 2.05% 1

Total Return Ranking - Trailing

Period AEMEX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 25.7% -34.4% 25.7% 0.55% 1
1 Yr 15.7% -37.1% 19.3% 1.64% 1
3 Yr 0.1% * -2.0% 8.3% 97.16% 5
5 Yr 4.1% * -2.0% 9.7% 64.00% 4
10 Yr N/A * -1.2% 14.3% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period AEMEX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 -9.7% -19.8% 30.7% 91.76% 5
2016 -9.2% -29.6% 46.1% 95.29% 5
2015 10.0% -6.7% 61.9% 2.94% 1
2014 -16.6% -16.6% 24.6% 97.62% 5
2013 43.7% -5.1% 84.5% 2.78% 1

NAV & Total Return History

AEMEX - Holdings

Filings data as of: Mar 31, 2017

Concentration Analysis

AEMEX Category Low Category High AEMEX % Rank Quintile
Net Assets 4.39 M 1.21 M 7.79 B 34.24% 5
Number of Holdings 105 26 625 9.78% 2
Net Assets in Top 10 1.22 M 443 K 5.15 B 33.70% 5
Weighting of Top 10 32.2% 17.3% 68.9% 13.59% 2

Top 10 Holdings

  1. China Overseas Land & Investment Ltd 5.27%
  2. Ayala Land Inc 2.44%
  3. China Resources Land Ltd 6.44%
  4. Macquarie Bank Ltd Call Exp 18dec13 2.19%
  5. Longfor Properties Co Ltd 4.12%
  6. BR Malls Participacoes SA 2.67%
  7. Central Pattana PCL 1.96%
  8. CIFI Holdings (Group) Co Ltd 2.78%
  9. China Vanke Co Ltd H 2.21%
  10. Global Logistic Properties Ltd 2.10%

Asset Allocation

Weighting Category Low Category High AEMEX % Rank Quintile
Stocks
90.33% 56.87% 102.39% 32.07% 5
Other
4.68% 0.00% 8.70% 1.63% 1
Cash
3.51% -2.39% 18.89% 3.26% 1
Bonds
1.49% 0.00% 21.80% 1.63% 1
Preferred Stocks
0.00% 0.00% 13.86% 3.26% 5
Convertible Bonds
0.00% 0.00% 0.68% 1.09% 5

Stock Sector Breakdown

Weighting Category Low Category High AEMEX % Rank Quintile
Real Estate
74.40% 51.63% 99.94% 32.07% 5
Consumer Cyclical
3.70% 0.00% 20.73% 4.89% 1
Industrials
2.90% 0.00% 4.10% 1.09% 1
Utilities
0.00% 0.00% 0.98% 2.17% 5
Technology
0.00% 0.00% 9.71% 8.15% 5
Healthcare
0.00% 0.00% 5.46% 5.43% 5
Financial Services
0.00% 0.00% 6.92% 7.07% 5
Energy
0.00% 0.00% 0.97% 1.63% 5
Communication Services
0.00% 0.00% 5.91% 12.50% 5
Consumer Defense
0.00% 0.00% 0.00% 0.54% 5
Basic Materials
0.00% 0.00% 2.35% 8.15% 5

Stock Geographic Breakdown

Weighting Category Low Category High AEMEX % Rank Quintile
Non US
90.33% 0.00% 98.27% 7.61% 1
US
0.00% 0.00% 98.73% 28.26% 5

Bond Sector Breakdown

Weighting Category Low Category High AEMEX % Rank Quintile
Cash & Equivalents
3.51% -0.23% 18.89% 3.80% 1
Derivative
0.00% -1.68% 0.03% 1.09% 5
Securitized
0.00% 0.00% 20.01% 1.63% 5
Corporate
0.00% 0.00% 19.63% 4.89% 5
Municipal
0.00% 0.00% 0.00% 0.54% 5
Government
0.00% 0.00% 0.05% 1.09% 5

Bond Geographic Breakdown

Weighting Category Low Category High AEMEX % Rank Quintile
Non US
1.49% 0.00% 1.49% 0.54% 1
US
0.00% 0.00% 20.50% 2.72% 5

AEMEX - Expenses

Operational Fees

AEMEX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 3.33% 0.12% 14.81% 4.35% 5
Management Fee 1.00% 0.09% 1.11% 2.17% 5
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.01% 0.26% N/A N/A

Sales Fees

AEMEX Fees (% of AUM) Category Low Category High AEMEX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

AEMEX Fees (% of AUM) Category Low Category High AEMEX Rank Quintile
Max Redemption Fee 1.00% 0.25% 2.00% 6.00% 2

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AEMEX Fees (% of AUM) Category Low Category High AEMEX Rank Quintile
Turnover 67.00% 1.00% 289.00% 15.76% 3

AEMEX - Distributions

Dividend Yield Analysis

AEMEX Category Low Category High AEMEX % Rank Quintile
Dividend Yield 0.3% 0.02% 2.00% 55.23% 4

Dividend Distribution Analysis

AEMEX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

AEMEX Category Low Category High AEMEX % Rank Quintile
Net Income Ratio 1.73% -0.05% 5.25% 38.59% 3

Capital Gain Distribution Analysis

AEMEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

AEMEX - Managers

Samuel A. Lieber

Manager

Start Date

Nov 03, 2008

Tenure

8.75

Tenure Rank

9.4%

Lieber is managing member and chief executive officer with Alpine Woods Capital Investors, LLC since. From 1985 until February 1998, he was a portfolio manager and senior real estate securities analyst with Evergreen Asset Management Corp. Prior to 1985, Lieber was associated with Whitbread-Nolan, Inc. in the investment property brokerage division. Previous to this, he worked for the urban design firm, Project for Public Spaces, as a Noyes Fellow.


Joel E.D. Wells

Lead Manager

Start Date

Feb 27, 2009

Tenure

8.43

Tenure Rank

10.1%

Mr. Joel Wells is the co-portfolio manager of the Emerging Markets Fund and Alpine Global Premier Properties Fund. Mr. Wells joined the Alpine Woods Capital Investors, LLC in November 2006, after serving as an Equity Research Associate Analyst on the Real Estate, REITs, and Lodging team at Wachovia Capital Markets. Prior to that position, Mr. Wells spent three years as a European Competition Analyst for WilmerHale in Brussels, Belgium. Mr. Wells earned his bachelor’s degree from Boston College, an MA from St. John’s College, and an International M.B.A. from the University of Chicago School of Business.


Tenure Analysis

Category Low

0.0

Category High

22.1

Category Average

7.94

Category Mode

3.9