Versus Capital will launch a retail mutual fund-of-funds that invests directly in income-producing real estate—a type of investment typically only available to institutional investors. Callan Associates will serve as sub-advisor.
Until now, these types of FOFs and their private real estate funds were typically only available to institutional investors with investment minimums of $5 million. The Versus fund will offer daily net asset values, quarterly liquidity, no upfront sales load and no partnership interests.
“We believe that owning direct real estate is a crucial part of a well-diversified portfolio and that individual investors deserve access to the best managers in an investor-friendly structure,” said Mark Quam, chief executive officer of Versus Capital.
The fund will invest in approved institutional mangers, including AEW Capital; JP Morgan Asset Management, Global Real Assets; UBS Global Asset Management, Global Real Estate; Heitman; Invesco Real Estate; Cornerstone Real Estate Advisers; DEXUS Property Group; Security Capital Research and Management; European Investors Inc.; and Forum Securities Ltd.