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Name

As of 12/05/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Heitman US Real Estate Securities Fund

HTMIX | Fund

$9.38

$31.1 M

3.59%

$0.34

0.88%

Vitals

YTD Return

5.0%

1 yr return

2.7%

3 Yr Avg Return

3.5%

5 Yr Avg Return

3.7%

Net Assets

$31.1 M

Holdings in Top 10

50.8%

52 WEEK LOW AND HIGH

$9.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.88%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 1.00%

Min Investment

Standard (Taxable)

$25,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/05/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Heitman US Real Estate Securities Fund

HTMIX | Fund

$9.38

$31.1 M

3.59%

$0.34

0.88%

HTMIX - Profile

Distributions

  • YTD Total Return 5.0%
  • 3 Yr Annualized Total Return 3.5%
  • 5 Yr Annualized Total Return 3.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.07%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Heitman US Real Estate Securities Fund
  • Fund Family Name
    Heitman
  • Inception Date
    Jan 01, 2018
  • Shares Outstanding
    11450857
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jerry Ehlinger

Fund Description

Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities issued by real estate companies operating in the United States, including real estate investment trusts (“REITs”). The Fund’s investments in equity securities may include common stocks, preferred stocks and securities offered in initial public offerings (“IPOs”). The Fund may invest in these equity securities directly or indirectly through investments in other investment companies, including exchange-traded funds (“ETFs”). The Fund defines a real estate company as any company that derives at least 50% of its revenue from, or has at least 50% of its assets in, real estate. The Fund considers a real estate company to be operating in the United States if the real estate company: (i) is organized in the United States, (ii) trades principally in a United States market, or (iii) derives at least 50% of its revenue from, or has at least 50% of its assets located in, the United States. The Fund may invest in the securities of real estate companies of any market capitalization.
The Fund may sell securities regardless of how long they have been held if the Adviser determines that a current position has become overvalued relative to its peers, if a company makes a strategic decision with which the Adviser disagrees, if the Adviser finds an opportunity that they believe is more compelling, or if the Adviser’s outlook on the company or market changes.
The Adviser makes investment decisions through a bottom-up strategy, focusing on individual security selection. To guide the portfolio construction process, the Adviser incorporates both quantitative and qualitative analysis in real estate securities. The Adviser analyzes factors such as management, financial condition, cash flow, and company’s growth potential estimates to select companies in the real estate industry that it believes will make attractive long-term investments. The research process includes an evaluation of the commercial real estate supply and demand dynamics, management, strategy, property quality, financial strength and corporate structure. As part of its risk analysis, the Adviser considers a company’s environmental, sustainability and governance (“ESG”) practices. The Adviser does not consider the Fund to be identified as an ESG fund. The Adviser believes a risk assessment that includes consideration of ESG factors can lead to better consistency in projecting financial returns and positive impact in the valuation of listed real estate equities, where opportunities exist for increasing net income, due to lower expenses, as well as higher valuations resulting from lower risk premiums and capitalization rates.
Judgments with respect to risk control, geographic and property sector variety, liquidity and other factors are considered and drive the Adviser’s investment decisions. In an effort to achieve its goal, the Fund may engage in active and frequent trading. The Fund is non-diversified, which means that it may invest a significant portion of its assets in the securities of a single issuer or small number of issuers.
Read More

HTMIX - Performance

Return Ranking - Trailing

Period HTMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -16.7% 15.0% 45.63%
1 Yr 2.7% -20.7% 11.4% 42.97%
3 Yr 3.5%* -11.1% 11.1% 43.48%
5 Yr 3.7%* -11.3% 14.5% 49.79%
10 Yr N/A* -1.5% 16.0% N/A

* Annualized

Return Ranking - Calendar

Period HTMIX Return Category Return Low Category Return High Rank in Category (%)
2022 -29.3% -51.3% 2.7% 35.88%
2021 29.8% -7.7% 52.3% 62.65%
2020 -6.3% -42.2% 35.0% 28.51%
2019 16.3% -0.6% 43.1% 60.52%
2018 -7.9% -30.7% 2.2% 26.82%

Total Return Ranking - Trailing

Period HTMIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -16.7% 15.0% 45.63%
1 Yr 2.7% -20.7% 11.4% 42.97%
3 Yr 3.5%* -11.1% 11.1% 43.48%
5 Yr 3.7%* -11.3% 14.5% 49.79%
10 Yr N/A* -1.5% 16.0% N/A

* Annualized

Total Return Ranking - Calendar

Period HTMIX Return Category Return Low Category Return High Rank in Category (%)
2022 -25.9% -40.7% 7.8% 44.27%
2021 43.6% 7.8% 62.1% 25.29%
2020 -4.3% -36.6% 44.3% 46.28%
2019 24.5% 3.4% 46.4% 69.96%
2018 -3.5% -22.2% 6.3% 18.64%

NAV & Total Return History

HTMIX - Holdings

Concentration Analysis

HTMIX Category Low Category High HTMIX % Rank
Net Assets 31.1 M 1.73 M 56.5 B 86.92%
Number of Holdings 39 15 479 50.18%
Net Assets in Top 10 15.8 M 433 K 30.2 B 90.84%
Weighting of Top 10 50.84% 16.1% 88.7% 66.67%

Top 10 Holdings

  1. Prologis Inc 9.97%
  2. Welltower Inc 6.06%
  3. Digital Realty Trust Inc 5.75%
  4. Equinix Inc 5.39%
  5. Extra Space Storage Inc 4.63%
  6. Equity Residential 4.17%
  7. Realty Income Corp 4.09%
  8. Kimco Realty Corp 3.87%
  9. Ventas Inc 3.46%
  10. Invitation Homes Inc 3.45%

Asset Allocation

Weighting Return Low Return High HTMIX % Rank
Stocks 		98.47% 0.00% 113.98% 43.96%
Cash 		1.53% -42.50% 30.22% 48.35%
Preferred Stocks 		0.00% 0.00% 34.46% 47.62%
Other 		0.00% -66.10% 112.19% 50.18%
Convertible Bonds 		0.00% 0.00% 10.95% 41.54%
Bonds 		0.00% -3.17% 166.53% 44.69%

Stock Sector Breakdown

Weighting Return Low Return High HTMIX % Rank
Real Estate 		100.00% 34.46% 100.00% 13.51%
Utilities 		0.00% 0.00% 3.55% 38.22%
Technology 		0.00% 0.00% 12.02% 53.67%
Industrials 		0.00% 0.00% 7.39% 42.47%
Healthcare 		0.00% 0.00% 0.53% 39.38%
Financial Services 		0.00% 0.00% 37.05% 45.17%
Energy 		0.00% 0.00% 33.11% 40.15%
Communication Services 		0.00% 0.00% 11.61% 44.79%
Consumer Defense 		0.00% 0.00% 0.93% 38.22%
Consumer Cyclical 		0.00% 0.00% 45.29% 65.25%
Basic Materials 		0.00% 0.00% 13.69% 42.08%

Stock Geographic Breakdown

Weighting Return Low Return High HTMIX % Rank
US 		98.47% 0.00% 113.98% 39.19%
Non US 		0.00% 0.00% 42.27% 48.35%

HTMIX - Expenses

Operational Fees

HTMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.88% 0.07% 24.77% 72.59%
Management Fee 0.57% 0.00% 1.50% 23.44%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

HTMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

HTMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 71.43%

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.

HTMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.11% 380.00% 84.07%

HTMIX - Distributions

Dividend Yield Analysis

HTMIX Category Low Category High HTMIX % Rank
Dividend Yield 3.59% 0.00% 11.96% 57.14%

Dividend Distribution Analysis

HTMIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Quarterly

Net Income Ratio Analysis

HTMIX Category Low Category High HTMIX % Rank
Net Income Ratio 1.07% -1.14% 6.05% 46.30%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HTMIX - Fund Manager Analysis

Managers

Jerry Ehlinger

Start Date

Tenure

Tenure Rank

Dec 29, 2017

4.42

4.4%

Jerry is Managing Director and the Lead Portfolio Manager in Heitman's North American Public Real Estate Securities group. Along with Mark Abramson and John White, he also serves as a Portfolio Manager for the firm's global real estate securities strategies. Throughout his career, Jerry has held a number of related investment positions in the REIT industry. Before joining Heitman in 2013, Jerry was Lead Portfolio Manager and Head of Real Estate Securities, Americas at DB/RREEF Real Estate. Prior, Jerry served as Senior Vice President and Portfolio Manager of Heitman's real estate securities group from 2000 to 2004. He began his career at Morgan Stanley in 1996 where he primarily covered the REIT sector both as a sell-side analyst and as a senior research associate at Morgan Stanley Asset Management. Jerry received an MS in Finance, Investment and Banking from the University of Wisconsin-Madison and a BS in Finance from the University of Wisconsin-Whitewater. Among other professional affiliations, Jerry is a member of the National Multi Housing Council, International Council of Shopping Centers, the CFA Institute, the CFA Society of Chicago, and the National Association of Real Estate Investment Trusts.

Jeffrey Yurk

Start Date

Tenure

Tenure Rank

Mar 31, 2019

3.17

3.2%

Vice President and Assistant Portfolio Manager since July 2009. Assistant Vice President and Securities Analyst from February 2004 to July 2009.

Mathew Spencer

Start Date

Tenure

Tenure Rank

Mar 31, 2019

3.17

3.2%

Charles Harbin

Start Date

Tenure

Tenure Rank

Mar 31, 2019

3.17

3.2%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 7.88 2.23

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