OppenheimerFunds has started a real estate fund that seeks total return through investments in real estate securities.
The Oppenheimer Real Estate Fund is to invest in common stocks and other equity securities issued by real estate companies, such as real estate investment trusts and real estate operating companies, the fund company said last Wednesday. The portfolio is subadvised by Cornerstone Real Estate Advisers Inc.
OppenheimerFunds had $135 billion of assets under management at Sept. 30. Cornerstone, with headquarters in Hartford, Conn., is an institutional real estate equity manager with $4.6 billion of assets under management at June 30.