Assets are a combination of performance and flow, as illustrated in this chart by Lipper, a longtime leader in fund research and fund intelligence. For the top 25 real estate funds, the primary driver has been considerable inflows of new money. According to Lipper, real estate funds were the only sector, except for gold, to have a positive flow for all of calendar 2002. “We had an inflow of about $350 million into real estate funds in the month of April, and in the past 26 months we’ve only had six months of outflow in real estate funds,” says senior analyst Don Cassidy. As of May 13, CGM Realty Fund was the top performer, posting a year-to-date total return of 28.29 percent.
| Top 25
Real Estate Funds—Based on Year to Date Performance |
| Name
of Fund |
Ticker
Symbol |
Total
Net
Assets
04/30/03
($ in mil.) |
YTD
Total
Return |
1-Year
Total
Return |
3-Year
Total
Return |
5-Year
Total
Return |
| CGM Realty
Fund |
CGMRX |
391.8 |
28.29 |
9.68 |
17.71 |
9.12 |
| Alpine
U.S. Real Estate Equity Fund |
EUEYX |
39.0 |
25.79 |
7.13 |
23.05 |
5.00 |
| Phoenix-Seneca
Real Estate Securities Fund |
REITX |
17.7 |
14.67 |
2.99 |
13.31 |
5.41 |
| American
Century Real Estate Fund Investor |
REACX |
149.8 |
12.30 |
10.40 |
14.72 |
6.50 |
| Cohen &
Steers Specialty Equity Fund, Inc. |
CSSPX |
18.6 |
12.25 |
8.59 |
15.27 |
3.43 |
| Scudder
RREEF Real Estate Securities A |
RRRAX |
253.1 |
12.05 |
N/A |
N/A |
N/A |
| Alpine
International Real Estate Equity Fund |
EGLRX |
34.2 |
11.95 |
1.17 |
8.68 |
1.31 |
| Prudential
Real Estate Securities Class B Shares |
PURBX |
26.2 |
11.78 |
9.95 |
13.57 |
4.32 |
| Morgan
Stanley Real Estate Fund CI B |
REFBX |
92.7 |
11.63 |
3.77 |
10.88 |
N/A |
| Davis Real
Estate Fund Class A |
RPFRX |
141.5 |
11.51 |
11.02 |
12.56 |
4.66 |
| Advantus
Real Estate Securities Fund, Inc. Class A |
ARESX |
46.7 |
11.45 |
8.15 |
14.00 |
N/A |
| Morgan
Stanley Inst US Real Estate Port, Inc. |
MSUSX |
709.3 |
11.33 |
4.92 |
12.25 |
6.9 |
| Van Kampen
Real Estate Securities, Inc. Class A |
ACREX |
216.0 |
11.28 |
3.79 |
11.48 |
6.00 |
| Goldman
Sachs Real Estate Securities Fund Class A |
GREAX |
122.6 |
11.15 |
5.94 |
12.60 |
N/A |
| AIM Real
Estate Fund Class A |
IARAX |
137.3 |
11.07 |
11.46 |
14.76 |
5.88 |
| Principal
Institutional Real Estate Fund |
N/A |
56.2 |
11.04 |
10.55 |
N/A |
N/A |
| T Rowe
Price Real Estate Fund, Inc. |
TRREX |
159.7 |
10.82 |
8.74 |
14.05 |
7.26 |
| Cohen &
Steers Realty Majors Fund |
N/A |
267.7 |
10.80 |
6.89 |
N/A |
N/A |
| Frank Russell
Investment Co. RE Securities Fund Class S |
RRESX |
662.9 |
10.71 |
7.59 |
13.05 |
6.98 |
| John Hancock
Real Estate Fund Class B |
JREBX |
17.2 |
10.66 |
2.66 |
11.52 |
N/A |
| DFA Real
Estate Securities Portfolio |
DFREX |
490.1 |
10.65 |
7.77 |
14.30 |
7.43 |
| Brazos/JMIC
Real Estate Securities Portfolio |
BJRSX |
131.3 |
10.64 |
8.03 |
12.82 |
4.85 |
| Munder
Real Estate Equity Investment Fund Class Y |
MURYX |
42.5 |
10.63 |
8.97 |
12.53 |
4.92 |
| Franklin
Real Estate Securities Fund Class A |
FREEX |
423.3 |
10.52 |
3.86 |
12.17 |
5.13 |
| Alliance
Bernstein Real Estate Inv. Inst. Class I |
ARIIX |
249.0 |
10.51 |
5.85 |
10.55 |
3.69 |
|
|
|
|
|
|
|
| Top
25 Real Estate Funds—Based on |
|
|
|
|
|
|
| Year
to Date Average for Real Estate Funds: |
|
|
10.07 |
6.24 |
12.73 |
5.45 |
| Number
of Funds: |
|
|
174 |
159 |
129 |
90 |
