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The Real Estate Fund and Global Real Estate Fund have the potential to pay three types of distributions: ordinary income, long-term capital gains and/or a return of capital. The allocation of the dividend among the three components is not reported by the real estate investment trust (REIT) until after the close of its taxable year, typically December 31.
In order to determine the amounts of each distribution type reported on your annual Form 1099-DIV/B, we will delay sending these forms until late February. This postponed mail date is common among funds that invest in REITs.
If you are a client in one of these real estate funds, please wait to file your tax returns until you receive your Form 1099-DIV/B for these funds. If you own other funds that have taxable activity during the calendar year, the tax forms for those funds will be sent by January 31.
Due to the limited focus of these funds, they may experience greater volatility than funds with a broader investment strategy. They are not intended to serve as a complete investment program by themselves.
This fund may be subject to many of the same risks as a direct investment in real estate. These risks include changes in economic conditions, interest rates, property values, property tax increases, overbuilding and increased competition, environmental contamination, zoning and natural disasters. This is due to the fact that the value of the fund's investments may be affected by the value of the real estate owned by the companies in which it invests. To the extent the fund invests in companies that make loans to real estate companies, the fund also may be subject to interest rate risk and credit risk.