Prime Property Fund Asia is a real estate opportunistic fund managed by Morgan Stanley. The Fund may use the fair value of a security to calculate its NAV when, for example, (1) a portfolio security is not traded in a public market or the principal market in which the security trades is closed, (2) trading in a portfolio security is suspended and not resumed prior to the normal market close, (3) a portfolio security is not traded in significant volume for a substantial period, or (4) the Adviser determines that the quotation or price for a portfolio security provided by a broker-dealer or independent pricing service is inaccurate. Total returns would have been lower had certain expenses not been waived during the period. 03-Mar-2023, As of An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Borrowings under the Credit Suisse arrangement bear interest at the 3 month LIBOR plus 250 basis points at the time of borrowing. Please note that not all sub-funds are available in all jurisdictions and sub-funds are not available to persons resident in jurisdictions where such distribution or availability would be contrary to local laws or regulations. All metrics are based on Class A shares. The Funds most recent quarterly distribution payment (September 2016) represented an annualized 5.22% rate. The subject matter contained herein has been derived from several sources believed to be reliable and accurate at the time of compilation. The joint venture also acquired one additional storage property bringing the total capitalization to more than $400 million. PURCHASES AND SALES OF INVESTMENT SECURITIES. 8 - Prime Property Fund") sponsored and maintained by The Equitable Life Assurance Societyof the UnitedStates. PDF Annual Report - PREDEXPREDEX Privacy & Cookies As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrants principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. Class A shares are offeredsubject to a maximum sales charge of 5.75% of the offering price. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Performance of 100 USD invested Download Average Annual Total Returns As of 31-Dec-2022 TIMEFRAME: Month-end Quarter-end Calendar Year Risk/Return Statistics As of 31-Jan-2023 TIMEFRAME: 3 Yrs Risk and Reward Profile As of 01-Dec-2022 Lower Risk High Risk Potentially Lower Rewards Potentially Higher Rewards At Morgan Stanley, giving back is a core valuea central part of our culture globally. 31-Dec-2022, As of As of September 30, 2016, net unrealized appreciation/(depreciation) of investments based on the federal tax cost was as follows: Gross Appreciation (excess of value over tax cost), Gross Depreciation (excess of tax cost over value), Cost of Investments for Income Tax Purposes. In general, proxy voting is an important right of shareholders and reasonable care and diligence must be undertaken to ensure that such rights are properly and timely exercised. PDF Real Estate Investment Summary - Nebraska As a result, the Adviser may cast different votes on behalf of different Clients. TIPRX Performance & Stats | Bluerock Total Income+ Real Estate A - YCharts QUESTIONS! It is calculated by annualizing the most recent Fund distribution yield. Management has determined that there were no other subsequent events to report through the issuance of these financial statements. Aggregate Bond Index in each of the since inception, trailing one year, and year to date through May 31, 2016 periods. The Repurchase Offer Amount will be no less than 5% and no more than 25% of the total number of shares outstanding on the Repurchase Request Deadline. Distribution Policy Risk. The higher the category, the greater the potential reward, but also the greater the risk of losing the investment. For the year ended September 30, 2016, the Fund did not have unobservable inputs (Level 3) used in determining fair value. The Fund is now invested in 23 private and non-listed institutional real estate funds representing more than 2,600 properties in $188 billion of real estate. The Fund elects to defer to the period ending September 30, 2017, late year ordinary losses in the amount of $9,522,584. experience includes acquisition activities at Lend Lease Real Estate, which is the predecessor to Prime Property. Following further consideration and discussion, the Board indicated that AHICs standards and practices relating to the identification and mitigation of potential conflicts of interests were satisfactory. These include commercial paper, open FX transactions, Treasury bills and other short-term instruments. From our origins as a small Wall Street partnership to becoming a global firm of more than 60,000 employees today, Morgan Stanley has been committed to clients and communities for 85 years. Kansas PERS puts $100m into core open-ended US property fund Significant unobservable prices or inputs (including the Funds own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date. Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. The amount being invested in the Morgan Stanley Prime Property Fund follows the pension fund's initial $50m investment in 2013 and a $65m commitment two years ago. The portfolio management team continues to work diligently to determine the optimal mix of private and public real estate securities that maximize risk-adjusted returns for our shareholders. Ideas across disciplines uncover novel insights for sharper decision-making. After several years of growing tensions, the potential for a reset under. Our procedures included confirmation of securities owned as of September 30, 2016 by correspondence with the custodian, brokers, and other appropriate parties or by other appropriate procedures when necessary. Investors in the Fund should understand that the net asset value (NAV) of the Fund will fluctuate, which may result in a loss of the principal amount invested. PDF Prime Property Fund Discussion Materials - WordPress.com Investments may be in a variety of currencies and therefore changes in rates of exchange between currencies may cause the value of investments to decrease or increase. Prime Property Fund Morgan Stanley Real Estate Investing - ReadkonG The fund pursues its investment objectives by investing, under normal circumstances, at least 80% of net assets, plus the amount of any borrowings for investment purposes, in "real estate industry securities," primarily in income producing equity and debt securities. At a meeting of the Funds Board of Trustees on June 21, 2016, the Trustees approved the continuation of the Investment Sub-Advisory Agreement for a one-year term. Dr. Anderson has primary responsibility for management of the Funds investment portfolio and has served the Fund in this capacity since it commenced operations in 2014. Aggregate Bond Index is a market value-weighted index of investment grade fixed-rated debt issues, including government, corporate, asset-backed and mortgage-backed securities with a maturity of one year or more. Currently, no secondary market exists for the Funds shares, and the Fund expects that no secondary market will develop. McMaster Investment Pool - Financial Affairs gross of) investment advisory fees specifically they do not reflect a deduction for asset management fees. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. Portfolio Managers of Closed-End Management Investment Companies. Kelly Cobb - Executive Director, Alternative Investments - LinkedIn 31-Jan-2023, As of Since our last annual report (September 2015), we added five additional best in class private institutional real estate securities, which represents an increase of $73 billion in gross asset exposure and 1,195 additional assets to the portfolio. Ubs Triton Property Fund Annual Report Our Financial Author: mx.up.edu.ph-2023-02-28T00:00:00+00:01 Subject: Logistics Holdings, LP 15.3 715 4.8% RREEF America REIT II 15.1 109 3.6% RREEF Core Plus Industrial Fund 1.1 22 3.6% Sentinel Real Estate Fund 1.8 29 3.2% . The fund is in this category because it invests in property company shares and the fund's simulated and/or realised return has experienced very high rises and falls historically. For a description of a possible sales charge, please see (Note 1). An investment level within the fair value hierarchy is based on the lowest level input, individually or in the aggregate, that is significant to fair value measurement. In-depth insights on emerging and global markets for spotting hot growth stories. In considering the costs of the services to be provided and profits to be realized by CenterSquare and its affiliates from the relationship with the Fund, the Trustees evaluated CenterSquares staffing, personnel, and methods of operating; the education and experience of CenterSquares personnel; CenterSquares compliance programs, policies, and procedures; the financial condition of CenterSquare; the level of commitment to the Fund and CenterSquare by the principals of CenterSquare; the current and projected asset levels of the Fund; and the overall expenses of the Fund, including the nature and frequency of advisory fee payments. A description of the policies and procedures that the Fund uses to vote proxies relating to portfolio securities is available without charge upon request by calling toll-free 888-926-2688, or on the Securities and Exchange Commissions (SEC) website at http://www.sec.gov. Audit Committee Financial Expert. . Purchases of Equity Securities by Closed-End Management Investment Company and Affiliates Purchasers. Ratings do not take into account sales loads. Morgan Stanley Real Estate Prime Property Fund - PitchBook 1The Morningstar Rating for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. The Fund was organized as a statutory trust on November 5, 2013 and under the laws of the State of Delaware. . The registrant has not adopted procedures by which shareholders may recommend nominees to the registrants Board of Trustees. Shareholders should not assume that the source of a distribution from the Fund is net profit. Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30th is available without charge upon request by calling toll-free 888-926-2688, or on the SECs website at http://www.sec.gov. Description Morgan Stanley Real Estate Prime Property Fund is a real estate core fund managed by Morgan Stanley Real Estate Advisors. GRIFFIN INSTITUTIONAL ACCESS REAL ESTATE FUND. GRIFX Performance & Stats | Apollo Diversified Real Estt I - YCharts The Distributor serves as principal underwriter of shares of the Fund. Performance is calculated net of fees. Shares will be repurchased at the NAV per share determined as of the close of regular trading on the NYSE no later than the 14th day after the Repurchase Request Deadline, or the next business day if the 14th day is not a business day (each a Repurchase Pricing Date). Griffin Capital Advisor, LLC (the Adviser), as a matter of policy and as a fiduciary to the Clients, has responsibility for voting proxies for securities consistent with the best interests of Clients. In considering the nature, extent, and quality of the services provided by CenterSquare, the Trustees considered the responsibilities of CenterSquare under the Investment Sub-AdvisoryAgreementand reviewed the services provided to the Fund including, without limitation, CenterSquares procedures for formulating investment recommendations and assuring compliance with the Funds investment objectives and limitations, coordination of services for the Fund among the Funds service providers, and efforts to promote the Fund, grow the Funds assets, and assist in the distribution of Fund shares. The Trustees noted that CenterSquare assists the Adviser in seeking to achieve the Funds investment objective to generate a balanced return comprised of current income and capital appreciation with moderate volatility and low correlation to the broader markets by pursuing strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. The Investment Pool holds external and internal endowments and other long term cash holdings. After reviewing CenterSquares and the Funds performance, and other factors, the Board concluded that the investment performance of CenterSquare was satisfactory. In considering the extent to which economies of scale would be realized as the Fund grows and whether the advisory fee levels reflect these economies of scale for benefit of the Funds investors, the Trustees considered that the Funds fee arrangements with AHIC and noted that the sub-advisory fee contained break points, which caused the Adviser to pay lower fees to AHIC based on lower asset levels.