Key features
Seeks to provide total return through capital appreciation and current income via North American publicly traded real estate securities
Provides a diversified exposure to high-quality North American real estate securities
A proprietary, bottom-up, fundamental process which considers Quality, Risk and Valuation
Daily pricing
as of
05/26/2023
NAV 1-day net change
0.07
Total net assets
as of
04/30/2023
All share classes
$28.3 million
Overview
Series identifiers |
CUSIP |
46600H810 |
Benchmark
Portfolio
Market cap (median) Source: FactSet
$11.9 billion
Market cap (weighted average) Source: FactSet
$36.1 billion
Portfolio turnover (last fiscal year)
59%
Cash, cash equivalents and other assets
3.3%
International equities & depositary receipts
1.3%
Top 10 holdings
as of 04/30/2023
Holdings are as of the date indicated and subject to change.
List may exclude cash and cash equivalents. Please see the Series' complete list of holdings for more information.
Holdings based by issuer.
REALTY INCOME CORPORATION
4.81
DIGITAL REALTY TRUST INC
4.67
EXTRA SPACE STORAGE INC
3.85
INVITATION HOMES INC
3.67
ALEXANDRIA REAL ESTATE EQUITIES INC
3.50
Total % Portfolio in Top 10 holdings - 53.82%
Sector allocation
as of 04/30/2023
List may exclude cash, cash equivalents, and exchange-traded funds (ETFs) that are used for cash management purposes. Please see the Series’ complete list of holdings for more information.
Hotel & Resort REITs
1.9%
Real Estate Operating Companies
0.4%
Management
Investment manager
Delaware Management Company, a series of Macquarie Investment Management Business Trust (a Delaware statutory trust)
Matthew Hodgkins
-
Head of Americas Listed Real Estate
-
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Matthew Hodgkins
Head of Americas Listed Real Estate
Matthew Hodgkins [BA (Hons)] is Macquarie’s Head of Americas Listed Real Estate, based in Chicago. Mr Hodgkins joined Macquarie as part of the acquisition of the AMP Capital team. Mr Hodgkins commenced in the investment management industry in 2005 at ABN AMRO in London, including roles in emerging markets and global equities. Prior to joining AMP Capital in 2012, Mr Hodgkins worked at BNP Paribas Asset Management in Singapore as an Asian Property analyst. Mr Hodgkins graduated from the University of Nottingham with a Bachelor of Arts and is an APREA certificate holder.
Sub-advisors
Macquarie Investment Management Global Limited
James Maydew
-
Head of Global Listed Real Estate
-
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James Maydew
Head of Global Listed Real Estate
James Maydew is Macquarie’s Head of Global Listed Real Estate based in Sydney. Mr Maydew commenced in the real estate industry in 2002 based in London, Mr Maydew has been investing in Global Listed Real Estate markets since 2007, deputy head of the capability since 2013 and global head since November 2016, and is responsible for all aspects of the platform including, team, portfolio, risk management and clients. Mr Maydew joined Macquarie as part of the acquisition of the AMP Capital team and started his career in unlisted real estate before focussing on Listed markets. Mr Maydew holds a Bachelor of Science in Real Estate Investment and Finance from the University of Reading and is a fully accredited member of the Royal Institution of Chartered Surveyors (MRICS).
Macquarie Investment Management Europe Limited
Ryan Watson
-
Head of European Listed Real Estate
-
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Ryan Watson
Head of European Listed Real Estate
Ryan Watson is Macquarie's Head of European Listed Real Estate, based in London. Mr Watson joined Macquarie as part of the acquisition of the AMP Capital team. Mr Watson began his career in 2009 with the AMP Capital Direct Property Team. Mr Watson transferred to the Global Listed Real Estate team after working with the Direct Property Team for 2 years across Capital Transactions, Retail Asset management and Fund of Fund investing. Mr Watson holds a Bachelor of Applied Finance from Macquarie University.
Macquarie Investment Management Hong Kong Limited
Jessica Koh
-
Head of Asia Listed Real Estate
-
Read bio
Jessica Koh
Head of Asia Listed Real Estate
Jessica Koh is Macquarie's Head of Asian Listed Real Estate, based in Hong Kong. Ms Koh commenced in the investment management industry in 2003, working at Colonial First State Global Asset Management for four years across its listed real estate and wholesale funds management businesses. Ms Koh joined AMP Capital in March 2006 covering Australian REITs based in Sydney, before moving to Singapore and subsequently Hong Kong, covering Asian real estate for over 15 years. Ms Koh holds a Bachelor of Property Economics with honours from the University of Technology, Sydney.
Fees
The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Series. The fee table does not reflect any fees or sales charges imposed by variable insurance contracts. If it did, the expenses would be higher.
Annual series operating expenses |
Management fees |
0.90% |
Distribution and service (12b-1) fees |
0.25% |
Other expenses |
0.23% |
Total annual Series operating expenses |
1.38% |
Fee waivers and expense reimbursements1 |
(0.17%) |
Total annual series operating expenses after fee waivers and expense reimbursements |
1.21% |
Please see the prospectus and SAI for additional information.
1Net expense ratio reflects a contractual waiver of certain fees/and/or expense reimbursements from May 1, 2023 through April 30, 2024. Please see the fee table in the Series' prospectus for more information.