The fund, which offers Class I shares, will invest primarily in securities of both U.S. and foreign real estate companies and companies related to the real estate industry. Old Mutual Capital is the investment adviser to the Fund, which employs Heitman-US, Heitman Europe and Challenger as sub-advisors.
As of June 30, 2008, Heitman -US, and Heitman Europe have $22.4 billion assets under management (AUM) and Challenger has $49 billion AUM. Heitman-US manages the investment of the fund’s assets in publicly traded North American securities and supervises the fund’s other sub-advisers, who manage the investment of the Fund’s assets in publicly traded European and Asia-Pacific securities. The fund is subject to the overall supervision of Old Mutual Capital.
“We expect the continued growth of the global economy to create real estate opportunities both within and outside the U.S.,” says Bruce Johnston, Chief Executive Officer of Old Mutual Investment Partners, a subsidiary of Old Mutual Capital. “This can enable long-term investors to prospectively enjoy current income and capital appreciation from an asset class that does not necessarily mirror the broad equities markets.”
The fund’s portfolio will normally invest in at least three or more regions, including the U.S. Primarily the fund invests in developed market countries, though it may invest up to 15% of its total assets in real estate securities of companies in emerging market countries.
Denver-based Old Mutual Capital, Inc. (OMCAP) is an investment advisory firm. OMCAP operates the full service mutual fund and managed account platform of Old Mutual Asset Management, the U.S. asset management group of Old Mutual plc.
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