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CBRE launches fund with long, short positions in real estate companies
By Susanna Moon
Chicago, Jan. 3 - CBRE Clarion Securities said it has launched the CBRE Clarion Long/Short Fund, which it will manage by taking long and short positions in equity securities of companies that are principally engaged in real estate.
T. Ritson Ferguson, Steven D. Burton and Joseph P. Smith are the primary portfolio managers, and each have more than 20 years of investment experience, according to a company press release.
The team will leverage its long history of managing long-only mutual funds together with its 11 years of experience in managing long/short funds to deliver a long/short mutual fund with daily liquidity, the release said.
"The fund seeks to generate attractive total returns regardless of market direction," Smith, co-chief investment officer and portfolio manager, said in the release. "This approach allows us flexibility to pursue opportunities with conviction while attempting to mitigate market risk through hedging."
This fund may be appropriate within an allocation to alternative investments where investors are looking to enhance the risk/return profile of their overall portfolio through additional diversification and control of volatility.
CBRE Clarion will initially be offering two classes of shares for the fund: investor (CLSVX) and institutional (CLSIX). There are no sales charges for the fund, and CBRE Clarion Securities said it agreed to cap the fund's expenses.
CBRE Clarion is a registered investment advisory firm specializing in the management of global listed real estate securities and is based in Philadelphia. The firm has managed long-only separate accounts since 1984, long-only mutual funds since 1997 and long/short strategies since 2000.
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