AAM/Phocas Real Estate I
- APRIX
- Price as of: Apr 16, 2021
-
$38.68
N/A N/A
- Primary Theme
- Real Estate Sector Equity
- Fund Company
- AAM
- Share Class
APRIX - Snapshot
Vitals
- YTD Return 11.0%
- 3 Yr Annualized Return 11.3%
- 5 Yr Annualized Return 7.1%
- Net Assets $25.9 M
- Holdings in Top 10 49.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 1.71%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 39.00%
TRADING FEES
- Max Redemption Fee 2.00%
Min Investment
- Standard (Taxable) $25,000
- IRA $25,000
Fund Classification
-
Primary Theme
Real Estate Sector Equity
- Fund Type Open End Mutual Fund
- Investment Style Real Estate
APRIX - Profile
Distributions
- YTD Total Return 11.0%
- 3 Yr Annualized Total Return 11.3%
- 5 Yr Annualized Total Return 7.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.24%
- Dividend Yield 0.8%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameAAM/Phocas Real Estate Fund
-
Fund Family NameAAM
-
Inception DateSep 29, 2006
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerWilliam Schaff
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.
APRIX - Performance
Return Ranking - Trailing
| Period | APRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.0% | -1.4% | 18.6% | 75.62% |
| 1 Yr | 36.2% | -2.1% | 111.8% | 38.11% |
| 3 Yr | 11.3%* | -5.2% | 24.0% | 22.26% |
| 5 Yr | 7.1%* | -1.3% | 19.5% | 24.80% |
| 10 Yr | 9.3%* | 4.1% | 15.9% | 18.06% |
* Annualized
Return Ranking - Calendar
| Period | APRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | -2.5% | -53.9% | 35.0% | 8.27% |
| 2019 | 24.7% | -0.8% | 43.1% | 18.60% |
| 2018 | -11.1% | -44.0% | 4.9% | 53.94% |
| 2017 | 1.4% | -16.4% | 25.4% | 50.00% |
| 2016 | 2.3% | -13.1% | 340.0% | 26.83% |
Total Return Ranking - Trailing
| Period | APRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 11.0% | -1.4% | 18.6% | 75.62% |
| 1 Yr | 36.2% | -6.3% | 111.8% | 33.57% |
| 3 Yr | 11.3%* | -5.2% | 24.0% | 19.34% |
| 5 Yr | 7.1%* | -1.6% | 19.5% | 22.83% |
| 10 Yr | 9.3%* | 4.1% | 15.9% | 17.59% |
* Annualized
Total Return Ranking - Calendar
| Period | APRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | -2.5% | -53.9% | 35.0% | 8.27% |
| 2019 | 24.7% | -0.8% | 43.1% | 18.60% |
| 2018 | -11.1% | -43.3% | 4.9% | 78.42% |
| 2017 | 7.4% | -13.6% | 31.4% | 20.64% |
| 2016 | 7.7% | -12.3% | 13.4% | 16.59% |
NAV & Total Return History
APRIX - Holdings
Concentration Analysis
| APRIX | Category Low | Category High | APRIX % Rank | |
|---|---|---|---|---|
| Net Assets | 25.9 M | 1.1 M | 67.8 B | 95.49% |
| Number of Holdings | 33 | 17 | 521 | 89.93% |
| Net Assets in Top 10 | 12.7 M | 405 K | 30.4 B | 95.49% |
| Weighting of Top 10 | 49.00% | 15.7% | 96.2% | 29.24% |
Top 10 Holdings
- American Tower Corp 7.51%
- Equinix Inc 6.00%
- Alexandria Real Estate Equities Inc 5.69%
- Prologis Inc 5.67%
- Extra Space Storage Inc 4.85%
- Independence Realty Trust Inc 4.73%
- Rexford Industrial Realty Inc 4.73%
- Sun Communities Inc 4.12%
- STORE Capital Corp 3.95%
- Jernigan Capital Inc 3.86%
Asset Allocation
| Weighting | Return Low | Return High | APRIX % Rank | |
|---|---|---|---|---|
| Stocks | 97.17% | 2.36% | 104.05% | 78.47% |
| Cash | 2.51% | -97.72% | 19.88% | 16.67% |
| Other | 0.32% | -6.19% | 95.23% | 19.79% |
| Preferred Stocks | 0.00% | 0.00% | 36.96% | 40.97% |
| Convertible Bonds | 0.00% | 0.00% | 6.50% | 38.54% |
| Bonds | 0.00% | -13.28% | 95.13% | 42.01% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | APRIX % Rank | |
|---|---|---|---|---|
| Real Estate | 100.00% | 36.94% | 100.00% | 13.55% |
| Utilities | 0.00% | 0.00% | 8.05% | 35.53% |
| Technology | 0.00% | 0.00% | 18.55% | 39.19% |
| Industrials | 0.00% | 0.00% | 10.48% | 42.12% |
| Healthcare | 0.00% | 0.00% | 36.29% | 36.26% |
| Financial Services | 0.00% | 0.00% | 37.05% | 41.39% |
| Energy | 0.00% | 0.00% | 17.72% | 34.43% |
| Communication Services | 0.00% | 0.00% | 9.85% | 37.00% |
| Consumer Defense | 0.00% | 0.00% | 3.93% | 35.16% |
| Consumer Cyclical | 0.00% | 0.00% | 41.47% | 63.37% |
| Basic Materials | 0.00% | 0.00% | 14.33% | 35.53% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | APRIX % Rank | |
|---|---|---|---|---|
| US | 97.17% | 2.36% | 101.88% | 65.97% |
| Non US | 0.00% | -2.02% | 32.33% | 54.17% |
APRIX - Expenses
Operational Fees
| APRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.71% | 0.07% | 30.10% | 30.48% |
| Management Fee | 0.65% | 0.00% | 1.67% | 36.33% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.47% | N/A |
Sales Fees
| APRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| APRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 1.00% | 2.00% | 23.53% |
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.
| APRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 39.00% | 1.54% | 235.00% | 39.71% |
APRIX - Distributions
Dividend Yield Analysis
| APRIX | Category Low | Category High | APRIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.79% | 0.00% | 5.11% | 10.03% |
Dividend Distribution Analysis
| APRIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| APRIX | Category Low | Category High | APRIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.24% | -2.55% | 6.70% | 69.29% |
Capital Gain Distribution Analysis
| APRIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Semi-Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Mar 30, 2021 | $0.085 |
| Sep 29, 2020 | $0.114 |
| Jul 01, 2020 | $0.108 |
| Mar 30, 2020 | $0.091 |
| Dec 30, 2019 | $1.093 |
| Sep 27, 2019 | $0.139 |
| Jul 01, 2019 | $0.147 |
| Mar 28, 2019 | $0.126 |
| Dec 29, 2017 | $0.326 |
| Dec 30, 2016 | $0.345 |
| Dec 31, 2015 | $0.361 |
| Dec 31, 2014 | $0.025 |
| Dec 30, 2013 | $0.189 |
| Dec 17, 2012 | $0.187 |
| Dec 15, 2011 | $0.053 |
| Dec 21, 2010 | $0.188 |
| Dec 17, 2009 | $0.274 |
| Dec 18, 2008 | $0.174 |
| Dec 31, 2007 | $0.066 |
| Dec 20, 2007 | $0.205 |
APRIX - Fund Manager Analysis
Managers
William Schaff
Start Date
Tenure
Tenure Rank
Sep 29, 2006
14.51
14.5%
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.
James Murray
Start Date
Tenure
Tenure Rank
Sep 29, 2006
14.51
14.5%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 27.26 | 7.82 | 1.51 |