State Street Global Advisors Launches Global Real Estate Mutual Fund with CBRE Clarion Securities
October 09 2014 - 9:45AM
Business Wire
State Street Clarion Global Real Estate Income Fund Provides
Investors with an Opportunity to Diversify Real Estate Exposure
with an Emphasis on Income
State Street Global Advisors (SSGA), the asset management arm of
State Street Corporation (NYSE:STT), today announced the launch of
the State Street Clarion Global Real Estate Income Fund, an
open-end global real estate mutual fund. Developed by SSGA and CBRE
Clarion Securities, a leading investment manager specializing in
real estate and infrastructure securities, the Fund seeks to
deliver attractive income and growth potential through an actively
managed portfolio of publicly-traded companies that primarily own
and operate commercial real estate and derive a majority of their
revenue from rental income.
“Demand for global real estate exposure is increasing across our
client base amid growing awareness of the potential benefits of the
asset class, which include low correlations with other asset
classes, competitive returns and stable income,” said Scott Ebner,
senior managing director and global head of product development and
research at State Street Global Advisors. “CBRE Clarion Securities’
global footprint, extensive research capabilities and impressive
investment track record made them an obvious choice to partner with
to meet this increasing demand.”
The State Street Clarion Global Real Estate Income Fund seeks to
deliver attractive total return with an emphasis on income. CBRE
Clarion Securities’ investment process combines top-down asset
allocation with bottom-up stock selection, emphasizing higher yield
real estate markets and property sectors worldwide experiencing the
strongest fundamentals. Focus is placed on high-quality companies
with well-managed balance sheets as well as above-average cash flow
and dividend growth potential.
The CBRE Clarion Securities’ team managing the Fund includes
co-chief investment officers Ritson Ferguson, Steven Burton and
Joseph Smith.
“We are pleased to have expanded our relationship with SSGA to
offer an alternative to investors seeking global real estate
exposure with a focus on income,” said Ritson Ferguson, CBRE
Clarion’s chief executive officer and co-chief investment
officer.
About CBRE Clarion Securities
CBRE Clarion Securities is a leading global investment
management firm specializing in real assets including listed real
estate and infrastructure securities. Headquartered near
Philadelphia, the firm has over 80 employees located in offices in
the United States, United Kingdom, Hong Kong, Japan and Australia.
CBRE Clarion Securities is the listed equity a management arm of
CBRE Global Investors. CBRE Global Investors is an independently
operated affiliate of CBRE Group, Inc. (NYSE:CBG), the world’s
premier, full-service commercial real estate services and
investment company.
About State Street Global Advisors
State Street Global Advisors (SSGA) is a global leader in asset
management. The firm is relied on by sophisticated investors
worldwide for its disciplined investment process, powerful global
investment platform and access to every major asset class,
capitalization range and style. SSGA is the asset management
business of State Street Corporation, one of the world’s leading
providers of financial services to institutional investors.
Currency Risk is a form of risk that arises from the change in
price of one currency against another. Whenever investors or
companies have assets or business operations across national
borders, they face currency risk if their positions are not
hedged.
Derivative investments may involve risks such as potential
illiquidity of the markets and additional risk of loss of
principal.
Options investing entail a high degree of risk and may not be
appropriate for all investors.
Foreign investments involve greater risks than U.S. investments,
including political and economic risks and the risk of currency
fluctuations, all of which may be magnified in emerging
markets.
Risk associated with equity investing include stock values which
may fluctuate in response to the activities of individual companies
and general market and economic conditions.
These investments may have difficulty in liquidating an
investment position without taking a significant discount from
current market value, which can be a significant problem with
certain lightly traded securities.
Investing in REITs involves certain distinct risks in addition
to those risks associated with investing in the real estate
industry in general. Equity REITs may be affected by changes in the
value of the underlying property owned by the REITs, while mortgage
REITs may be affected by the quality of credit extended. REITs are
subject to heavy cash flow dependency, default by borrowers and
self-liquidation. REITs, especially mortgage REITs, are also
subject to interest rate risk (i.e., as interest rates rise, the
value of the REIT may decline).
Investments in small/mid-sized companies may involve greater
risks than in those of larger, better known companies.
The Fund's shares will change in value, and you could lose money
by investing in the Fund. The Fund may not achieve its investment
objective. An investment in the Fund is not a deposit with a bank
and is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other government agency.
Distributor: State Street Global Markets, LLC, member FINRA,
SIPC, a wholly owned subsidiary of State Street Corporation.
References to State Street may include State Street Corporation and
its affiliates. Certain State Street affiliates provide services
and receive fees from the SSgA Funds.
Before investing, consider the funds' investment objectives,
risks, charges and expenses. To obtain a prospectus or summary
prospectus which contains this and other information, call
1-800-997-7327 or visit www.ssgafunds.com.
Read it carefully.
CORP-1113
State Street CorporationElizabeth Bartlett,
+1-617-662-2903www.statestreet.com@StateStreetorRiver
CommunicationsTroy Mayclim, +1-914-686-5599
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