Stratton Real Estate Fund Fact Sheet
Overall Morningstar Rating™
Morningstar Category: Real Estate*Based on risk-adjusted returns among 225 funds as of 01.31.2021.
Morningstar Style Box
Philosophy and Process
Under normal circumstances, the fund seeks to achieve its objective by investing at least 80% of its assets in securities of real estate and real estate related companies, or in companies which own significant real estate assets at the time of purchase ("real estate companies") including Real Estate Investment Trusts ("REITs").
REITs were created to enable investors to participate in the benefits of owning income-producing real estate. REITs own many different types of properties, including apartment complexes, office buildings, hotels, health care facilities, shopping centers and shopping malls.
Real Estate Funds may be subject to a higher degree of market risk because of concentration in a specific industry or geographic sector. Risks include declines in value of real estate, general and economic conditions, changes in the value of the underlying property and defaults by borrowers.
|Class A Shares||Class C Shares||Class Inst'l Shares||Class R6 Shares|
|Subsequent Investment Min.*||$0.00||$0.00||$0.00||$0.00|
|Max. Up Front Sales Charge||5.75%||N/A||N/A||N/A|
|Max. Deferred Sales Charge||N/A||1.00%||N/A||N/A|
Andrew T. DiZio, CFA ®
Shawn M. Gallagher, CFA®
Fund Performance as of 12.31.2020
|QTR||YTD||1 Year||3 Years||5 Years||10 Years||Since
|A Shares with 5.75% Sales Charge||2.39%||-6.54%||-6.54%||4.67%||5.89%||8.52%||9.72%|
|A Shares without Sales Charge||8.63%||-0.84%||-0.84%||6.75%||7.15%||9.17%||9.88%|
|Lipper Real Estate Median||9.24%||-4.31%||-4.31%||4.60%||5.03%||7.95%||N/A|
The total expense ratios for Class A, C and I Shares are 1.08%, 1.83% and 0.83%, respectively. The gross expense ratio for Class R6* Shares is 0.83%. The net expense ratio for Class R6* Shares is 0.74%.
The Fund Administrator, Sterling Capital Management LLC, has contractually agreed to waive its administrative fees, pay Fund operating expenses, and/or reimburse the Fund .09% of the Class R6 average daily net assets for the period February 1, 2021 through January 31, 2022. Performance would have been lower without limitations in effect.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit the performance summary.
The inception date for Class A Shares is 11/16/2015. The inception date for Class C Shares is 11/16/2015. The inception date for Class Inst'l Shares is 05/30/1980. The inception date for Class R6 Shares is 02/03/2020. Because Class A Shares and Class C Shares do not have a full calendar year of performance, the historical performance shown is that of Institutional Shares. Class A Shares and Class C Shares and Institutional Shares of the Fund would have substantially similar performance because the Shares are invested in the same portfolio of securities and the performance would differ only to the extent that the Classes have different expenses. The inception date for Institutional Shares was 5/30/1980.
The performance shown prior to November 16, 2015 is that of the Stratton Real Estate Fund (the "Predecessor Fund") which reorganized into the Sterling Capital Stratton Real Estate Fund Institutional Shares (the Fund). Because the Fund had no investment operations prior to the closing of the reorganization, and based on the similarity of the Fund to the Predecessor Fund, the Predecessor Fund is treated as the survivor of the reorganization for accounting and performance reporting purposes. The inception date of the Predecessor Fund is 5/30/1980.
Effective November 16, 2015, Sterling Capital Management changed the name of the Stratton Real Estate Fund to the Sterling Capital Stratton Real Estate Fund. The name was changed as a result of the Stratton Fund being reorganized into the Sterling Capital Funds.
Top Ten Holdings as of 12.31.2020
|American Tower Corp.||8.09%|
|Crown Castle International Corp.||5.61%|
|Digital Realty Trust, Inc.||4.25%|
|Alexandria Real Estate Equities, Inc.||3.46%|
|Invitation Homes, Inc.||3.21%|
|Essex Property Trust, Inc.||3.06%|
Current and future portfolio holdings are subject to change and risk. Based on Market Value of securities.
Sector Allocation as of 12.31.2020
Allocations are based on the current weight to funds in the cited Sector. The composition of the fund's holdings is subject to change.
Growth of $10,000 as of 12.31.2020
The Growth of $10,000 chart is hypothetical based upon the performance of A Shares at NAV for the period ended 12/31/2020. It includes the reinvestment of dividends and capital gains.
Risk/Return Statistics vs. FTSE NAREIT All Equity REIT Index as of 12.31.2020
Summary Statistics as of 12.31.2020
|Weighted Average Market Cap.||$29.23B|
*Annual Turnover Ratio is 12 month rolling calculation.
*Alpha, Beta, R-Squared, Standard Deviation, and Sharpe Ratio are based on a 10-year calculation.
*Click for a glossary of terms
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The 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. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. 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. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.