clarion partners lion industrial trustrandy edwards obituary
Aggregate Bond Index, Griffin Institutional Access Real Estate Fund C Without Load, Griffin Institutional Access Real Estate Fund C With Load**, Griffin Institutional Access Real Estate Fund I NAV. For the year ended September 30, 2016, the Distributor received $1,550,339 in underwriting commissions for sales of the Funds Class A shares, of which $0 was retained by the principal underwriter or other affiliated broker-dealers. Distribution Policy Risk. Learn about Clarion Europe Careers at Clarion Each class represents an interest in the same assets of the Fund and classes are identical except for differences in their sales charge structures and ongoing service and distribution charges. Redemption price per share may be reduced for any applicable contingent deferred sales charge. The Fund elects to defer to the period ending September 30, 2017, late year ordinary losses in the amount of $9,522,584. The Administrator is also reimbursed by the Fund for certain out of pocket expenses. Please review the Funds Prospectus for more details regarding the Funds fees and expenses. A large standard deviation implies that there have been large swings in the return series of the manager. U.S. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. As of the end of last year, real estate accounted for 6.3% of ACERA's total 6.3% of the pension fund's total portfolio. Prior to joining Scannell, Kris was a senior vice president at Clarion Partners, where he facilitated the growth of Lion Industrial Trust, a $30 billion industrial-focused, private REIT, through acquisition, disposition and development transactions throughout the United States. The Trustees noted the Funds strong performance over the since inception, trailing one year, and year to date through May 31, 2016 periods. The Funds Form N-Q may also be reviewed and copied at the SECs Public Reference Room in Washington, D.C., and information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The registrants audit committee has considered whether the provision of non-audit services to the registrants investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant, that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountants independence. Various inputs are used in determining the value of the Funds investments as of the reporting period end. 2008-2023 Sovereign Wealth Fund Institute. The Board of Trustees of the registrant has designated Mr. Ira Cohen as the registrants Audit Committee Financial Expert. The Trustees also considered the portfolio turnover rate for the Fund; the process by which evaluations are made of the overall reasonableness of commissions paid; the method and basis for selecting and evaluating the broker-dealers used; any allocation of portfolio business to persons affiliated with the Adviser; and the extent to which the Fund allocates portfolio business to broker-dealers who provide research, statistical, or other services (soft dollars). We believe Clarion's partnership culture, compensation system, and entrepreneurial spirit clearly differentiate us from our competition. Call us now at 732-740-7240 or send a message using the form below we'll get back to you as soon as we can. After reviewing AHICs and the Funds performance, and other factors, the Board concluded that the investment performance of AHIC was satisfactory. All Clarion Partners LLC and Clarion Partners Europe statistics, data and charts, including but not limited to assets under management (AUM), ESG data, sector data and property data, as well as data related to our investors, tenants and employees, are as of 12/31/2022 unless otherwise noted. ***Log In or To read this full article you need to be subscribed to Newsline. The Lion8 is an all-electric urban truck, which combines power, comfort and modern technology. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. The views and information discussed in this commentary are as of the date of publication, are subject to change, and may not reflect the writers current views. The MSCI US REIT Index (RMZ) is an equity REIT index that serves as a proxy for publicly traded real estate. The Trustees noted that the Fund commenced operations on June 30, 2014, and continued to gather assets. 4. We are not responsible for the content, views, or privacy policies of the third party website. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. The Trustees also considered the anticipated portfolio turnover rate for the Fund; the process by which evaluations are made of the overall reasonableness of commissions paid; the method and basis for selecting and evaluating the broker-dealers used; any anticipated allocation of portfolio business to persons affiliated with CenterSquare; and the extent to which the Fund allocates portfolio business to broker-dealers who provide research, statistical, or other services (soft dollars). Property Flyers. Nearly 300 investment consulting professionals in the U.S. advise institutional investors such as corporations, public organizations, union associations, health systems, endowments,and foundations. In the absence of specific voting guidelines from the particular Client, the Adviser will vote Proxies in the best interests of such Client. Based on Market value. The Adviser maintains written policies and procedures as to the handling, voting and reporting of proxy voting and makes appropriate disclosures about the Advisers proxy policies and practices and the availability of the Advisers proxy voting record. A description of the policies and procedures that the Fund uses to vote proxies relating to portfolio securities is available without charge upon request by calling toll-free 888-926-2688, or on the Securities and Exchange Commissions (SEC) website at http://www.sec.gov. Dr. Anderson received his bachelors degree in Finance from North Central College in 1991 as a Presidential Scholar and holds a Ph.D. in Finance as a Presidential Fellow from the University of Alabama, where he graduated with highest distinction in 1996. Investors in the Fund should understand that the net asset value (NAV) of the Fund will fluctuate, which may result in a loss of the principal amount invested. In considering the extent to which economies of scale would be realized as the Fund grows and whether the advisory fee levels reflect these economies of scale for benefit of the Funds investors, the Trustees considered that the Funds fee arrangements with CenterSquare and noted that the sub-advisory fees contained break points, which caused the Adviser to pay CenterSquare lower fees at lower asset levels. Item 10. By investing in the Fund, a shareholder will not be deemed to be an investor in any underlying fund and will not have the ability to exercise any rights attributable to an investor in any such underlying fund related to their investment. Two institutional funds for the police and fire departments of the city of San Jose have backed the Clarion Lion Industrial Trust, a core real estate fund managed by Clarion Partners. Global Wealth Conferences - SWFI Event Series. The firm currently manages $8.2 billion across a variety of real estate strategies as of December 31, 2015. Aggregate Bond Index is a market value-weighted index of investment grade fixed-rated debt issues, including government, corporate, asset-backed and mortgage-backed securities with a maturity of one year or more. Trustees Consideration and Approval of continuation of Sub-Advisory Agreement with CenterSquare. Since our last annual report (September 2015), we added five additional best in class private institutional real estate securities, which represents an increase of $73 billion in gross asset exposure and 1,195 additional assets to the portfolio. *Including accumulated net investment loss of: The Fund's Class C shares commenced operations on August 10, 2015. Average borrowings and the average interest rate for the days the Credit Suisse line of credit was outstanding during the year ended September 30, 2016 were $41,831,967 and 3.17%, respectively. The Trustees reviewed the balance sheet of the Adviser and discussed the financial stability and profitability of the firm. Management has determined that there were no other subsequent events to report through the issuance of these financial statements. You cannot invest directly in an index. Financial reporting records are adjusted for permanent book/tax differences to reflect tax character but are not adjusted for temporary differences. To the Board of Trustees and the Shareholders of. The Fund distribution rate is the amount, expressed as a percentage, a Fund investor would receive in distributions if the most recent Fund distribution stayed consistent going forward. Industrial. The registrant has not adopted procedures by which shareholders may recommend nominees to the registrants Board of Trustees. The Trustees noted the Funds success in gathering assets and that its assets under management as of May 31, 2016 exceeded all but one Fund in its peer group. Submission of Matters to a Vote of Security Holders. Index performance does not represent actual Fund or portfolio performance. The Fund engages in a continuous offering of shares and operates as an interval fund that offers quarterly repurchases of shares at net asset value. Effective November 16, 2016, Class M Shares of the Fund commenced operations. Clarion Partners, LLC : Group Fund Manager: Clarion Partners, LLC . Actual results could differ from those estimates. The memorandum provided information about the Advisers finances, personnel, services to the Fund, investment advice, fees, and compliance program. Description. For the year ended September 30, 2016, the following reclassifications, which had no impact on results of operations or net assets, were recorded to reflect tax character. There were no transfers between Levels 1, 2 and 3 during the year ended September 30, 2016. Partners is more than a word in our name. The Fund is considered an investment company for financial reporting purposes under GAAP. The Fund was organized as a statutory trust on November 5, 2013 and under the laws of the State of Delaware. Our research focus is local and global, property-specific and big picture, next year and next decade. NYSCRF said it has made a $300m commitment to Lion Industrial Trust, an open-ended core-plus industrial fund managed by Clarion Partners, and invested $70.1m through a separate account with Heitman to buy the 539,094sqft Rickenbacker West Logistics Center in Lockbourne, Ohio. Fair valuation procedures may be used to value a substantial portion of the assets of the Fund. Win whats next. Over the past twelve months and through careful portfolio composition, we reduced our exposure to the multi-family sector by 603 basis points and increased our office exposure by 482 basis points. The tax character of distributions paid for the years ended September 30, 2016 and September 30, 2015 were as follows: As of September 30, 2016 the components of accumulated earnings/(deficit) on a tax basis were as follows: Other cumulative effect of timing differences. ABANDONED-FAILURE TO RESPOND OR LATE RESPONSE. Clarion Partners LLC 5 years 5 months Senior Vice President -. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. At September 30, 2016, outstanding collateral amounted to $1,066,237,965. Dr. Anderson and Mr. Propper receive a salary, retirement plan benefits and performance-based bonus from the Adviser. Official MapQuest website, find driving directions, maps, live traffic updates and road conditions. Earlier in January, two other pension funds with the city of San Jose the San Jose Federated City Employees Retirement System and the San Jose Federated Retiree Health Care Trust Fund invested in the Clarion Lion Industrial Trust, representing the citys first commitments to this fund. All or a portion of a distribution may consist solely of a return of capital (i.e. HgCapital Renewable Power Partners. The largest outstanding borrowing during the year ended September 30, 2016 relating to Credit Suisse was $149,500,000. Clarion Lion Industrial Trust General Information. For the registrants last two fiscal year ended September 30, 2015 and September 30, 2016, the aggregate non-audit fees for services rendered to the registrant, the registrants investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant were $3,000 and $3,000, respectively. Pursuant to the Investment Advisory Agreement with the Fund (Advisory Agreement), the Adviser is entitled to an investment advisory fee, computed daily and payable monthly of 1.50% of the average daily net assets of the Fund. By clicking on I accept, you consent to our Privacy Policy. Connecticut Retirement Plans and Trust Funds, Youre viewing 5 of 45 limited partners. Schiff Hardin LLP was paid $67,130 in connection with legal services. Two institutional funds for the police and fire departments of the city of San Jose have backed the Clarion Lion Industrial Trust, a core real estate fund managed by Clarion Partners. The Distributor acts as the Funds principal underwriter in a continuous public offering of the Funds shares. In addition to his role in the United States, Kris co-managed . We have audited the accompanying statement of assets and liabilities of Griffin Institutional Access Real Estate Fund (the Fund), including the portfolio of investments, as of September 30, 2016, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the two-year period then ended and for the period June 30, 2014 (commencement of operations) through September 30, 2014. A negative correlation of -1 indicates that the securities have moved in the opposite direction. Aon Hewitt Investment Consulting, Inc. (AHIC) provides advisory services to the Fund by recommending private investment securities in which to invest to the Adviser pursuant to an Investment Sub-Advisory Agreement. The returns shown above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or redemption of Fund shares. In general, proxy voting is an important right of shareholders and reasonable care and diligence must be undertaken to ensure that such rights are properly and timely exercised. Effective October 1, 2016, each Trustee who is not affiliated with the Fund or the Adviser will receive an annual retainer of $50,000, to be paid quarterly, as well as reimbursement for any reasonable expenses incurred attending the meetings, and $500 per non-interested Trustee per each special telephonic meeting(exclusive of one special telephonic meeting per year and any telephonic meeting to review the agenda of any upcoming meeting of the Board). The difference between book basis and tax basis net unrealized appreciation is primarily attributable to the investments in partnerships, wash sales and certain other investments.