APRAX: AAM/Phocas Real Estate Fund - MutualFunds.com
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AAM/Phocas Real Estate A

APRAX - Snapshot

Vitals

  • YTD Return 1.1%
  • 3 Yr Annualized Return 11.0%
  • 5 Yr Annualized Return 8.1%
  • Net Assets $24.9 M
  • Holdings in Top 10 54.0%

52 WEEK LOW AND HIGH

$34.74
$22.67
$36.66

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.43%

SALES FEES

  • Front Load 5.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

  • Standard (Taxable) $2,500
  • IRA $2,500

Fund Classification


Compare APRAX to Popular Real Estate Sector Equity Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$86.86

+1.09%

$63.89 B

3.19%

$2.74

2.27%

0.12%

$28.87

+1.16%

$63.89 B

-

$0.00

2.27%

0.26%

$38.15

+1.14%

$9.06 B

2.73%

$1.03

1.68%

0.20%

$20.97

+1.16%

$7.65 B

3.88%

$0.80

2.29%

0.08%

$62.41

+1.33%

$6.20 B

2.52%

$1.55

2.26%

0.95%

APRAX - Profile

Distributions

  • YTD Total Return 1.1%
  • 3 Yr Annualized Total Return 9.0%
  • 5 Yr Annualized Total Return 6.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.32%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    AAM/Phocas Real Estate Fund
  • Fund Family Name
    AAM
  • Inception Date
    Aug 27, 2018
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James Murray

Fund Description

Under normal market conditions, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in securities of equity real estate investment trusts ("REITs") and companies of any size market capitalization which primarily own, manage and invest in underlying real estate assets. Therefore, it invests at least 25% of its net assets (i.e., concentrates) in the real estate industry. The fund is non-diversified.


APRAX - Performance

Return Ranking - Trailing

Period APRAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -7.3% 10.4% 79.15%
1 Yr 6.9% -26.6% 69.7% 20.98%
3 Yr 11.0%* -5.2% 24.3% 21.98%
5 Yr 8.1%* -0.1% 21.9% 22.75%
10 Yr 8.5%* 3.6% 16.2% 21.66%

* Annualized

Return Ranking - Calendar

Period APRAX Return Category Return Low Category Return High Rank in Category (%)
2020 -2.4% -53.9% 35.0% 7.52%
2019 24.4% -0.8% 43.1% 22.48%
2018 N/A -44.0% 4.9% N/A
2017 N/A -16.4% 25.4% N/A
2016 N/A -13.1% 340.0% N/A

Total Return Ranking - Trailing

Period APRAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -7.3% 10.4% 79.15%
1 Yr 1.0% -26.6% 69.7% 69.23%
3 Yr 9.0%* -5.2% 24.3% 49.45%
5 Yr 6.9%* -0.4% 21.9% 43.53%
10 Yr 7.9%* 3.6% 16.2% 39.63%

* Annualized

Total Return Ranking - Calendar

Period APRAX Return Category Return Low Category Return High Rank in Category (%)
2020 -2.4% -53.9% 35.0% 7.52%
2019 24.4% -0.8% 43.1% 22.48%
2018 N/A -43.3% 4.9% N/A
2017 N/A -13.6% 31.4% N/A
2016 N/A -12.3% 13.4% N/A

NAV & Total Return History


APRAX - Holdings

Concentration Analysis

APRAX Category Low Category High APRAX % Rank
Net Assets 24.9 M 1.06 M 63.9 B 95.11%
Number of Holdings 33 15 521 89.55%
Net Assets in Top 10 13.4 M 392 K 28.5 B 94.77%
Weighting of Top 10 53.99% 14.3% 98.3% 17.15%

Top 10 Holdings

  1. American Tower Corp 7.52%
  2. Equinix Inc 6.73%
  3. Rexford Industrial Realty Inc 6.43%
  4. Prologis Inc 5.69%
  5. Alexandria Real Estate Equities Inc 5.69%
  6. Sun Communities Inc 5.10%
  7. Extra Space Storage Inc 4.52%
  8. Independence Realty Trust Inc 4.46%
  9. STORE Capital Corp 4.27%
  10. Jernigan Capital Inc 3.86%

Asset Allocation

Weighting Return Low Return High APRAX % Rank
Stocks
96.71% 0.00% 104.05% 82.58%
Cash
3.49% -95.06% 19.88% 10.10%
Preferred Stocks
0.00% 0.00% 37.64% 45.99%
Convertible Bonds
0.00% 0.00% 7.03% 43.21%
Bonds
0.00% -14.94% 93.05% 46.34%
Other
-0.20% -6.19% 96.01% 98.26%

Stock Sector Breakdown

Weighting Return Low Return High APRAX % Rank
Real Estate
100.00% 36.53% 100.00% 21.45%
Utilities
0.00% 0.00% 9.15% 44.00%
Technology
0.00% 0.00% 18.55% 49.09%
Industrials
0.00% 0.00% 10.26% 49.45%
Healthcare
0.00% 0.00% 36.76% 42.18%
Financial Services
0.00% 0.00% 37.05% 46.91%
Energy
0.00% 0.00% 18.28% 40.73%
Communication Services
0.00% 0.00% 9.31% 45.09%
Consumer Defense
0.00% 0.00% 3.63% 41.45%
Consumer Cyclical
0.00% 0.00% 40.71% 68.00%
Basic Materials
0.00% 0.00% 14.80% 42.55%

Stock Geographic Breakdown

Weighting Return Low Return High APRAX % Rank
US
96.71% 0.00% 103.22% 72.47%
Non US
0.00% -2.02% 32.81% 60.63%

APRAX - Expenses

Operational Fees

APRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.43% 0.07% 23.80% 13.11%
Management Fee 0.65% 0.00% 1.67% 36.33%
12b-1 Fee 0.25% 0.00% 1.00% 40.43%
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

APRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 2.50% 5.75% 48.94%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

APRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 11.76%

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.

APRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 1.54% 235.00% 12.54%

APRAX - Distributions

Dividend Yield Analysis

APRAX Category Low Category High APRAX % Rank
Dividend Yield 0.00% 0.00% 6.16% 46.37%

Dividend Distribution Analysis

APRAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Quarterly

Net Income Ratio Analysis

APRAX Category Low Category High APRAX % Rank
Net Income Ratio 1.32% -2.55% 6.70% 70.61%

Capital Gain Distribution Analysis

APRAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History

View More +

APRAX - Fund Manager Analysis

Managers

James Murray


Start Date

Tenure

Tenure Rank

Sep 29, 2006

14.43

14.4%

James Murray, CFA. Mr. Murray was one of three original partners at Phocas Financial Corporation starting in June 2005. Mr. Murray has been a member of the Fund’s investment team in 2006. Prior to this, Mr. Murray was the Senior REIT Analyst for Bay Isle Financial Institutional REIT portfolios and a mutual fund and institutional trader from 1999 to 2005. Mr. Murray brings strong analytical and quantitative skills to the research team and portfolio management process, with particularly strong expertise in the area of modeling real estate companies. Prior to that, he spent four years at Charles Schwab, where he supervised that firm's Tax and Dividend Departments. Mr. Murray earned his B.A. degree in Economics from Kenyon College. He holds the Chartered Financial Analyst designation, and is a member of the Security Analysts of San Francisco.

William Schaff


Start Date

Tenure

Tenure Rank

Sep 29, 2006

14.43

14.4%

William Schaff, Chief Executive Officer and President, founded Phocas Financial Corp. in 2005. Prior to founding Phocas, Mr. Schaff was President of Bay Isle, Portfolio Manager at Janus Capital Management and Lead Portfolio Manager at the Undiscovered Managers organization. He earned an M.S. in Engineering from the University of California, Davis. He also holds the Chartered Financial Analyst designation, and is a member of the Security Analysts of San Francisco.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 27.17 7.84 1.42