The James Alpha Global Real Estate Investments Portfolio seeks to deliver total return through a combination of current income and capital appreciation by investing in a global portfolio comprised of publicly traded REITs and other real estate securities.
October 26, 2009
Sector Equity Portfolio
I-shares Symbol: JARIX
A-shares Symbol: JAREX
C-shares Symbol: JACRX
Ascent Investment Advisors, LLC
About Ascent Investment Advisors, LLC
Ascent Investment Advisors, LLC, a James Alpha Advisors company, is the investment manager of the James Alpha Global Real Estate Investments Fund. Ascent specializes in delivering the potential benefits of indirect ownership in high-quality, income-producing real estate to both institutional and individual investors.
Andrew J. Duffy, CFA is the Chief Investment Officer of, and a Senior Portfolio Manager at, Ranger Global Real Estate Advisors, LLC, sub-advisor to the James Alpha Global Real Estate Investments Fund. Mr. Duffy has over 20 years of global real estate securities investment experience. Prior to co-founding Ranger Global Real Estate Advisors, Mr. Duffy was a Managing Director with Citigroup Principal Strategies, where he managed a long/short portfolio of global real estate securities. From February 2006 until January 2008 he was with Hunter Global Investors, L.P. where he was the Co-Portfolio Manager of the Hunter Global Real Estate Securities Fund. Before that, Mr. Duffy was a Portfolio Manager at TIAA-CREF for over six years, during which time he was responsible for managing over $3 billion in global real estate equity and debt securities held in pension portfolios, college savings plans, mutual funds and the firm’s proprietary general account. Between 1993 and 1999, Mr. Duffy was a Senior Research Analyst at Eagle Asset Management, where he launched and managed a dedicated real estate securities investment program in which he was responsible for fundamental analysis, security selection and portfolio construction.
Ascent Investment Advisors, LLC's investment philosophy is to perform rigorous fundamental research in order to identify those REITs which it believes own the highest-quality assets, located in the countries and markets with the most potentially favorable macroeconomic and demographic drivers, and run by superior management teams with substantial alignment of interests via ownership of their company’s common stock.
The Fund invests in publicly-traded REITs and other publicly-traded real estate securities that are included in the FTSE EPRA/NAREIT Developed Global Real Estate Index. The Adviser uses both a quantitative screening process and a qualitative stock selection process when selecting securities for investment. The Adviser and Green Street Advisors, an independent research and consulting firm concentrating on publicly-traded real estate securities, designed a proprietary quantitative screening model which the Adviser uses to identify the securities that qualify for further qualitative evaluation by the Adviser to determine the most attractive investments for the Fund.
There is no assurance that the portfolio will achieve its investment objective. The Fund is subject to stock market risk, which is the risk that stock prices overall will decline over short or long periods, adversely affecting the value of an investment.
Risks of one’s ownership are similar to those associated with direct ownership of real estate, such as changes in real estate values, interest rates, cash flow of underlying real estate assets, supply and demand, and the creditworthiness of the issuer. International investing poses special risks, including currency fluctuations and economic and political risks not found in investments that are solely domestic.
Options involve risk and are not suitable for all investors. Writing a covered call option allows the fund to receive a premium (income) for giving the right to a third party to purchase shares that the Fund owns in a given company at a set price for a certain period of time. There is no guarantee of success for any options strategy. Increased portfolio turnover may result in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. Investments in lesser-known, small and medium capitalization companies may be more vulnerable to these and other risks than larger, more established organizations.