Securian AM Real Asset Income Fund
Seeks above-average income and long- term growth of capital by investing in companies with a fund that primarily invests in real assets.
Investment Objective
The Securian AM Real Asset Income Fund seeks above-average income and long-term growth of capital, with a secondary objective of reduced volatility compared to broader equity markets.
Investment Management
Investment Manager
Liberty Street Advisors
Investment Sub-Advisor
Portfolio Managers
Investment Focus
The Fund primarily invests at least 80% of its net assets in “real assets” and securities of companies that derive at least 50% of their revenues from activities related to real assets. Real assets are defined broadly by the Fund to include any assets that have physical properties, such as energy and natural resources, real estate, basic materials, equipment, utilities and infrastructure, and commodities.
Management may invest, as it seeks to manage inflation or volatility, increase income, or gain market exposure:
- 40% or more of the Fund’s total assets in real estate securities.
- Up to 25% of its total assets in the securities of master limited partnerships (MLPs).
- The Fund may invest in exchange-traded funds (ETFs), exchange-traded notes (ETNs), Treasury inflation-protected securities (TIPS) and futures and may write covered calls.
Advisors with clients who are looking for an actively managed real estate focused fund that may produce a relatively steady source of income may want to consider the Securian AM Real Asset Income Fund.
Fund Facts
Inception date
9/12/2012
Morningstar asset category
Infrastructure
Benchmark
Morningstar U.S. Real Asset Index
Investment minimum
$100,000
Distributions
Quarterly
Expense Ratios
Gross Expense Ratio
1.09%
Net Expense Ratio*
0.97%
*The Fund’s advisor has contractually agreed to waive its fee and/or pay operating expenses so that total annual fund operating expenses do not exceed 0.95%. The contractual agreement is in effect until December 31, 2023.
Ticker
Institutional Class
VSDIX
Fund Performance
| 12/1/2021 |
| Ticker | NAV | NAV Change | Daily Return - Daily |
|---|---|---|---|
| VSDIX | 11.72 | -0.13 | -1.10 |
As of
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| Institutional Class |
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| Morningstar US Real Asset Index |
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| Securian AM Real Asset Benchmark |
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Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Fund performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 800-207-7108.
Alerian MLP Index – a composite of the 50 most prominent energy Master Limited Partnerships (MLPs).
Bloomberg Barclays U.S. Treasury Inflation Linked Bond Index – an index that includes publicly issued, U.S. Treasury inflation protected securities that have at least 1 year remaining to maturity of index rebalancing date, with an issue size equal to or in excess of $500 million.
The Securian AM Real Asset Income Benchmark is a custom benchmark that is aligned with the Fund’s Principal Investment Strategy and is comprised of the following existing industry benchmarks: 54% FTSE NAREIT Equity REITs Index; 12% S&P 500 Utilities Index, 12% Alerian MLP Total Return Index; 12% Bloomberg Barclays US Government Inflation-Linked Bond Index; and 10% FTSE NAREIT Preferred Stock Index .
The Morningstar® US Real Asset IndexSM is a broadly diversified index that meets the needs of real-asset investors. To maintain broad exposure and diversification, the index will maintain a weight allocation at each rebalance of: 40% Treasury Inflation-Protected Securities, or TIPS; 30% commodities; 15% real estate investment trusts, or REITs; 10% upstream commodity stocks; and 5% master limited partnerships, or MLPs.
The S&P 500® Index consists of 500 large cap common stocks which together represents approximately 80% of the total U.S. stock market. It is a float-adjusted market-weighted index (stock price times float-adjsuted shares outstanding), with each stock affecting the index proportion to it’s market value.
S&P 500 Utilities Index – and index of those companies included in the S&P 500 that are classified as members of the GICS(registered symbol) utilities sector.
10% FTSE NAREIT Preferred Stock Index – and index composed exclusively of preferred shares and depository shares designed to track the performance of preferred securities issued in the U.S. markets by Real Estate Investment Trusts (REITs).
FTSE NAREIT US Real Estate Index Series is designed to present investors with a comprehensive family of REIT performance indexes that spans the commercial real estate space across the US economy. The FTSE NAREIT Equity REITs index contains all Equity REITs not designated as Timber REITs or Infrastructure REITs and is free-float weighted.
It is not possible to invest directly in an index.
Schedule of Distributions
| Distribution Date | VSDIX |
|---|---|
| June 28, 2021 | $0.1334 |
| Mar 29, 2021 | $0.0180 |
| Distribution Date | VSDIX |
|---|---|
| Dec 9, 2020 | $0.0867 |
| Sept 29, 2020 | $0.0510 |
| Jun 29. 2020 | $0.0475 |
| Mar 30. 2020 | $0.0425 |
| Distribution Date | VSDIX |
|---|---|
| Dec 30, 2019 | $0.0423 |
| Sep 27, 2019 | $0.0262 |
| Jun 27, 2019 | $0.0322 |
| Mar 28, 2019 | $0.0171 |
| Distribution Date | VSDIX |
|---|---|
| Dec 28, 2018 | $0.0591 |
| Sep 27, 2018 | $0.0358 |
| Jun 28, 2018 | $0.0358 |
| Mar 28, 2018 | $0.0239 |
| Distribution Date | VSDIX |
|---|---|
| Dec 28, 2017 | $0.0431 |
| Sep 28, 2017 | $0.0500 |
| Jun 29, 2017 | $0.0450 |
| Mar 30, 3017 | $0.0254 |
| Distribution Date | VSDIX |
|---|---|
| Dec 29, 2016 | $0.0475 |
| Sep 29, 2016 | $0.0700 |
| Jun 29, 2016 | $0.0800 |
| Mar 30, 2016 | $0.0700 |
| Distribution Date | VSDIX |
|---|---|
| Dec 30, 2015 | $0.0675 |
| Sep 29, 2015 | $0.0900 |
| Jun 29, 2015 | $0.0900 |
| Mar 30, 2015 | $0.0675 |
| Distribution Date | VSDIX |
|---|---|
| Dec 30, 2014 | $0.0332 |
| Sep 29, 2014 | $0.0875 |
| Jun 27, 2014 | $0.0900 |
| Mar 28, 2014 | $0.0920 |
| Distribution Date | VSDIX |
|---|---|
| Dec 27, 2013 | $0.0210 |
| Sep 27, 2013 | $0.1156 |
| Jun 27, 2013 | $0.1094 |
| Mar 27, 2013 | $0.0968 |
| Distribution Date | VSDIX |
|---|---|
| Dec 28, 2012 | $0.0991 |
Top Holdings
| As of 09/30/2021 | Sum of % of NetAssets |
|---|---|
| Prologis Inc | 2.82 |
| Public Storage | 2.78 |
| Digital Realty Trust Inc | 2.33 |
| Pebblebrook Hotel Trust | 1.91 |
| Energy Transfer LP | 1.89 |
| Welltower Inc | 1.77 |
| MPLX LP | 1.74 |
| Enterprise Products Partners LP | 1.67 |
| Sempra Energy | 1.65 |
| Equinix Inc | 1.58 |
Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security.
Fund Highlights
Higher Income Potential
The Fund’s goal is to produce higher income than investment-grade fixed income products, while managing volatility and inflation risk in a broadly diversified real asset-focused portfolio.
Potential Buffer Against Volatility
An Overlooked Asset Class
Many dividend strategies overlook the real estate investment trust (REIT) sector, knowing the special expertise it takes to be successful. The Firm has the experience to capitalize on this historically higher dividend-paying sector in addition to the traditional sectors of utilities, oil and gas, and others.
Important Risks and Disclosures:
Mutual fund investing involves risk. Principal loss is possible. Investors should be aware of the risks involved with investing in a fund concentrating in a specific industry such as REITs or real estate securities.
The outbreak of COVID-19 has negatively affected the worldwide economy, individual countries, individual companies and the market in general. The future impact of COVID-19 is currently unknown, and it may exacerbate other risks that apply to the Fund.
These include risks such as declines in the value of real estate and increased susceptibility to adverse economic or regulatory developments. Investing in small and medium-sized companies involves greater risks than those associated with investing in large company stocks, such as business risk, significant stock price fluctuations and illiquidity. The Fund may invest in smaller or medium-sized companies, which involve additional risks such as limited liquidity and greater volatility than large companies. The Fund may invest in foreign securities which involve political, economic and currency risks, greater volatility and differences in accounting methods. The Fund may invest in ETFs and ETNs, which are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of the shares may trade at a discount to its net asset value (“NAV”), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares. MLPs are subject to certain risks inherent in the structure of MLPs, including complex tax structure risks, the limited ability for election or removal of management, limited voting rights, potential dependence on parent companies or sponsors for revenues to satisfy obligations, and potential conflicts of interest between partners, members and affiliates. The Fund may also use options and future contracts, which have the risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates. Covered calls may limit the upside potential of the underlying security. Interest payments on TIPS are unpredictable and will fluctuate as the principal and corresponding interest payments are adjusted for inflation. There can be no assurance that the CPI will accurately measure the real rate of inflation in the prices of goods and services. Diversification does not assure a profit or protect against loss in a declining market.
The Securian AM Real Asset Income Fund is distributed by Foreside Fund Services, LLC.
Please read and consider the prospectus carefully before investing. To obtain a hardcopy of the prospectus, please call 800-207-7108.