X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DENVER-Invesco Funds’ Real Estate Opportunity Fund returned 11.05% in the year ending on March 31, shows the Denver-based family of mutual funds’ latest report. Only three of Invesco’s 24 funds performed better in that time period.

Two of them were energy funds, which returned 23.09% and 22.35%, respectively, and the third was a financial services fund that returned 11.25%.

In his letter to shareholders, fund manager Sean D. Katof, notes he outperformed the S&P 500, which lost 21.67%, but the fund did not keep pace with the NAREIT-Equity REIT Index, which surged 23.88%.

Real estate investment trust accounts for 72.72% of the assets of the Real Estate Opportunity Fund.

Top holdings include AMB Property, Equity Office Properties Trust, Arden Realty, Cousin Properties and First Industrial Realty Trust.

Katof says that given the near-term uncertainty in the equity market, he has adopted a more defensive investment strategy. That includes taking profits on some select positions, especially office REITs. Office REITs may be sensitive to slowing business activity, he said.

”Given the risk of continued equity market volatility, we believe that investors will continue to seek out the REIT market as an investment haven,” Katof says. ”Many (REITs are) now trading at attractive valuations that provide a firm foundation for future gains, and we anticipate that investors will again reward those investments once economic uncertainty dissipates.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.