GIREX: Griffin Institutional Access Real Estt A

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GIREX Griffin Institutional Access Real Estt A


Profile

GIREX - Profile

Vitals

  • YTD Return -7.6%
  • 3 Yr Annualized Return -1.9%
  • 5 Yr Annualized Return -0.7%
  • Net Assets $N/A
  • Holdings in Top 10 42.9%

52 WEEK LOW AND HIGH

$25.24
$24.81
$27.73

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.94%

SALES FEES

  • Front Load 5.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 22.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $1,000

Fund Classification

  • Primary Caregory
  • Fund Type Closed-end mutual fund
  • Investment Style Real Estate

Distributions

  • YTD Total Return -7.6%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.43%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Griffin Institutional Access Real Estate Fund
  • Fund Family Name
    Griffin Capital
  • Inception Date
    Jun 30, 2014
  • Shares Outstanding
    31946056
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Spencer Propper

Fund Description

The fund pursues its investment objective by strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. This approach enables the Adviser to allocate between public and private real estate securities, and allows the fund to invest across a diversified set of investment managers and strategies as well as providing investment exposure across property types and geographies. It is non-diversified.


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Categories

Performance

GIREX - Performance

Return Ranking - Trailing

Period GIREX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.6% -36.4% 17.4% 20.00%
1 Yr -7.9% -54.6% 21.5% 22.78%
3 Yr -1.9%* -23.8% 12.6% 41.48%
5 Yr -0.7%* -23.4% 10.0% 32.14%
10 Yr N/A* -8.3% 6.5% N/A

* Annualized

Return Ranking - Calendar

Period GIREX Return Category Return Low Category Return High Rank in Category (%)
2019 2.6% -22.7% 43.1% 93.65%
2018 -0.7% -44.0% 2.2% 2.10%
2017 1.0% -16.4% 25.4% 48.37%
2016 1.6% -28.0% 12.5% 28.57%
2015 1.9% -19.4% 2.4% 3.78%

Total Return Ranking - Trailing

Period GIREX Return Category Return Low Category Return High Rank in Category (%)
YTD -7.6% -36.4% 17.4% 20.00%
1 Yr -7.9% -54.6% 21.5% 22.78%
3 Yr -0.1%* -20.9% 12.6% 42.79%
5 Yr 1.4%* -15.3% 10.0% 44.90%
10 Yr N/A* -4.0% 10.5% N/A

* Annualized

Total Return Ranking - Calendar

Period GIREX Return Category Return Low Category Return High Rank in Category (%)
2019 2.6% -22.7% 43.1% 93.65%
2018 2.0% -43.3% 2.2% 2.10%
2017 6.5% -13.6% 31.4% 23.26%
2016 4.4% -12.3% 12.5% 54.19%
2015 1.9% -15.2% 7.7% 48.65%

NAV & Total Return History


Holdings

GIREX - Holdings

Concentration Analysis

GIREX Category Low Category High GIREX % Rank
Net Assets N/A 1.34 M 57.6 B N/A
Number of Holdings 155 20 632 8.86%
Net Assets in Top 10 1.76 B 702 K 27.1 B 12.18%
Weighting of Top 10 42.90% 11.0% 79.3% 89.27%

Top 10 Holdings

  1. Morgan Stanley Prime Property Fund 6.12%
  2. Clarion Lion Properties Fund 5.93%
  3. Cortland Growth And Income Fund 5.59%
  4. Clarion Gables Multifamily Trust 4.66%
  5. Prudential Prisa 4.50%
  6. Ta Realty Core Property Fund 3.84%
  7. Oaktree Real Estate Income Fund 3.43%
  8. Heitman Core Real Estate Debt Income Trust 3.36%
  9. Clarion Lion Industrial Trust 2.80%
  10. Cbre Us Core Partners 2.67%

Asset Allocation

Weighting Return Low Return High GIREX % Rank
Other
74.13% -1.84% 93.58% 2.58%
Stocks
15.53% 2.17% 104.60% 96.31%
Bonds
5.47% -3.82% 153.60% 8.12%
Preferred Stocks
4.22% 0.00% 47.56% 12.18%
Cash
0.53% -169.14% 13.66% 67.53%
Convertible Bonds
0.13% 0.00% 6.83% 7.38%

Stock Sector Breakdown

Weighting Return Low Return High GIREX % Rank
Real Estate
99.71% 36.96% 100.00% 49.81%
Financial Services
0.21% 0.00% 37.05% 17.24%
Industrials
0.04% 0.00% 10.66% 8.81%
Consumer Cyclical
0.03% 0.00% 34.25% 38.70%
Utilities
0.00% 0.00% 6.61% 92.72%
Technology
0.00% 0.00% 14.99% 93.10%
Healthcare
0.00% 0.00% 0.32% 92.72%
Energy
0.00% 0.00% 1.68% 92.72%
Communication Services
0.00% 0.00% 3.29% 93.10%
Consumer Defense
0.00% 0.00% 0.23% 92.72%
Basic Materials
0.00% 0.00% 5.97% 92.72%

Stock Geographic Breakdown

Weighting Return Low Return High GIREX % Rank
US
15.51% 2.17% 103.97% 96.31%
Non US
0.02% 0.00% 25.60% 26.57%

Bond Sector Breakdown

Weighting Return Low Return High GIREX % Rank
Securitized
46.67% 0.00% 99.20% 3.69%
Corporate
45.72% 0.00% 96.04% 12.18%
Cash & Equivalents
7.61% 0.00% 100.00% 94.10%
Derivative
0.00% 0.00% 8.70% 92.62%
Municipal
0.00% 0.00% 6.88% 91.88%
Government
0.00% 0.00% 63.55% 92.25%

Bond Geographic Breakdown

Weighting Return Low Return High GIREX % Rank
US
5.43% -3.82% 153.65% 8.12%
Non US
0.04% -0.05% 21.68% 7.01%

Expenses

GIREX - Expenses

Operational Fees

GIREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.94% 0.07% 19.12% 27.91%
Management Fee 1.50% 0.00% 1.67% 98.52%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

GIREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 1.50% 6.50% 45.83%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GIREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 20.93%

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.

GIREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 1.54% 257.00% 31.70%

Distributions

GIREX - Distributions

Dividend Yield Analysis

GIREX Category Low Category High GIREX % Rank
Dividend Yield 0.00% 0.00% 7.05% 92.62%

Dividend Distribution Analysis

GIREX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Quarterly Quarterly

Net Income Ratio Analysis

GIREX Category Low Category High GIREX % Rank
Net Income Ratio 1.43% -2.55% 5.67% 62.92%

Capital Gain Distribution Analysis

GIREX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

GIREX - Fund Manager Analysis

Managers

Spencer Propper


Start Date

Tenure

Tenure Rank

Jun 30, 2014

6.09

6.1%

Mr. Propper serves as our Associate Portfolio Manager and as Vice President of Griffin Capital Advisor, LLC. Additionally, Mr. Propper serves as Vice President, Product Development of Griffin Capital Corporation, a position he has held since joining Griffin Capital Corporation in 2014. Previously, Mr. Propper was a Director at Lakemont Group, a boutique real estate investment banking and consulting firm. At the Lakemont Group, Mr. Propper was responsible for overseeing projects for a variety of clients including pension funds, private equity firms and publicly traded real estate companies and specialized in structured finance, market analysis and strategic due diligence. Mr. Propper holds a Masters of Business Administration and Bachelor of Science in Finance and Real Estate from the University of Central Florida.

Randy Anderson


Start Date

Tenure

Tenure Rank

Jun 30, 2014

6.09

6.1%

Randy I. Anderson Ph.D., CRE, serves as Chief Investment Officer of Griffin Capital Advisor, LLC, and as Chairman of the Board of Trustees and the Portfolio Manager, positions he has held since our formation. Additionally, Dr. Anderson serves as the Chief Economist of Griffin Capital Corporation, a position he has held since joining Griffin Capital Corporation in 2014. Dr. Anderson has also been Executive Vice President of Griffin Benefit-Street Partners BDC Corp. and its registered investment adviser, Griffin Capital BDC Advisor, LLC since May 2014. In addition, Dr. Anderson serves as President of Griffin Capital Asset Management Company, LLC, and has held such position since September 2015. From 2012-2013, Dr. Anderson held several senior executive positions at Bluerock Real Estate LLC. Dr. Anderson served as the Howard Phillips Eminent Scholar Chair and Professor of Real Estate at the University of Central Florida from 2008 through 2013, where he was responsible for growing the real estate program, including the establishment of the Professional MS in Real Estate. While at the University of Central Florida, Dr. Anderson was a member of the University Foundation Investment Sub-Committee which provides investment advice for the endowment, was the academic member of the Florida Association of Realtors Education Foundation Advisory Board, and was an ex-officio board member of the Central Florida Commercial Association of Realtors. In 2007, Dr. Anderson was President, Chief Executive Officer, and founding partner of Franklin Square Capital Partners, where he helped establish, strategically organize, and capitalize the firm. From 2005 through 2007, Dr. Anderson also served as Chief Economist for CNL Financial Group as well as Divisional President for CNL Real Estate Advisors. Prior to CNL, Dr. Anderson was the Chief Economist and Director of Research for the Marcus and Millichap Company from 2002 through 2005 and Vice President of Research at Prudential Real Estate Advisors from 2001 through 2002. Dr. Anderson is a former co-editor of the Journal of Real Estate Portfolio Management and the Journal of Real Estate Literature. Dr. Anderson received the Kinnard Young Scholar Award from the American Real Estate Society, an award which recognizes outstanding real estate scholarship for young academics, served as the Executive Director for the American Real Estate Society, was named a Homer Hoyt Fellow and a NAIOP Distinguished Fellow, and has been invited to guest lecture at leading global universities. Dr. Anderson received his B.A. in Finance from North Central College in 1991 as a Presidential Scholar and holds a Ph.D. in Finance as a Presidential Fellow from the University of Alabama, where he graduated with highest distinction in 1996.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.14 26.59 8.81 14.59