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Bluerock Total Income+ Real Estate Fund announced the Fund has surpassed $7 billion in net assets, making it the first real estate focused interval fund to achieve such milestone. Bluerock Total Income+ is the largest real estate-focused interval fund and the 3rd largest of all active interval funds (ranked by net assets).1 Year-to-date through August, the Fund has raised nearly $3 billion in new equity capital.2 TI+ is invested in a diverse portfolio of institutional, private real estate, consisting of approximately $363 billion in underlying institutional real estate equity and debt investments.
Bluerock Total Income+ is pleased to report continued outsized shareholder net returns of 26.55% over the trailing 12-months and 16.2% YTD (TIPWX, I-share, as of 8.31.22) where both equity and fixed income securities are down sharply (TIPWX, I-share) as of 8.31.2022. The Fund, approaching its 10-year anniversary, boasts positive total returns in every calendar year and an annualized net return to shareholders since inception of 9.66%, with a low 1.68% annualized standard deviation since inception (TIPWX, I-share) as of 8.31.2022. We believe the Fund’s strong performance has been driven by the investment team’s active management, including strategic over-weights to the industrial, residential, life science and specialty sectors, which represent over 88% of the underlying portfolio.
Bluerock Total Income+ has also been a consistent leader in risk-adjusted performance generating the single highest Sharpe and Sortino Ratios (key measures of risk-adjusted returns) of all domestic ’40 Act funds (including over 6,100 equity, fixed income and specialty sector funds) since inception as of 6.30.22, per Morningstar.3 TI+’s peer-leading performance extends to both its A-shares and I-shares, reporting the highest total net returns in the trailing five-year period among all active real estate sector interval funds (seven funds) as of 8.31.2022.4 Past performance is no guarantee of future results.
TI+ recently paid its 38th consecutive quarterly distribution in June 2022 at the annual rate of 5.25% based on current net asset value (NAV).5 The Fund’s quarterly distributions have also been highly tax efficient with approximately 63% of the distributions enjoying tax deferral for even higher taxable equivalent yields. In addition, TI+’s NAV per share has increased more than 50% from $25.00 per share to $38.10 per share adding significant appreciation to the distribution for attractive total returns (A-share, TI+’s longest running share class as of 8.31.22).
“The Bluerock Total Income+ Fund has generated an exceptional combination of performance metrics, including, but not limited to, consistency of tax-efficient distributions, capital appreciation, and low volatility versus the broader indexes,” said Jeffrey Schwaber, CEO of Bluerock Capital Markets. “TI+ has delivered high risk-adjusted returns through multiple market cycles, and in the current volatile market with stock and bond portfolios down sharply year-to-date, provides a much-needed outperforming portfolio component to its shareholders. Further, Bluerock Total Income+ has delivered strong performance in the past 12 months with net returns of nearly 3x greater than the Fund’s long-term average, supporting our bullish outlook for shareholders in this current market,” added Schwaber. “Of over 6,100 open, closed and exchange traded funds in the entire Morningstar universe since TI+’s inception 10 years ago, only one fund can boast the single highest risk-adjusted return of all funds, and that is Bluerock Total Income+ Real Estate Fund.”
