Securian Real Estate Securities
Data updated: 2024-05-28
C000017165 — Securian Real Estate Securities. United States Real Estate · $26.19M AUM · 1.21% expense ratio. Holdings, fees, performance and SEC filings.
C000017165 Fund Overview
Securian Real Estate Securities is a US mutual fund managed by Ivy Variable Insurance Portfolios, categorised as United States Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Ivy Variable Insurance Portfolios
- Category: United States Real Estate
- Assets under management: $26.19M
- 1-year return: 6.4%
- SEC CIK: 0000810016
- SEC series ID: S000006231
- Share class ID: C000017165
C000017165 Investment Objective and Strategy
Securian Real Estate Securities describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Ivy Variable Insurance Portfolios.
Investment objective
To seek to provide total return through capital appreciation and current income.
Principal investment strategy
Ivy VIP Securian Real Estate Securities seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets in the securities of companies in the real estate or real estate-related industries. Real estate securities include securities of issuers that receive at least 50% of their gross revenue from the construction, ownership, leasing, management, financing or sale of residential, commercial or industrial real estate. Real estate-related securities include securities issued by companies primarily engaged in businesses that sell or offer products or services that are closely related to the real estate industry. The Portfolio does not directly invest in real estate. Most of the Portfolios real estate securities portfolio consists of securities issued by real estate investment trusts (REITs) and other real estate operating companies (REOCs) that are listed on a securities exchange or traded over-the-counter.
A REIT is a corporation (or a trust or association that otherwise would be taxable as a domestic corporation) that invests in real estate, mortgages on real estate or shares issued by other REITs and qualifies for pass-through Federal income tax treatment provided it meets certain conditions, including the requirement that it distribute at least 90% of its taxable income. A REOC is a corporation or partnership (or an entity classified as such for Federal tax purposes) that makes similar investments, except that a REOC has not elected or qualified to be taxed as a REIT and, therefore, among other differences, does not have a requirement to distribute any of its taxable income. REOCs also are more flexible than REITs in terms of what types of real estate investments they can make. At times, the Portfolio may invest a significant portion of its total assets in a limited number of issuers.
The Portfolios investment subadviser, Securian Asset Management, Inc. (Securian), primarily utilizes a bottom-up (researching individual issuers) fundamental stock-picking approach in selecting what it believes are high-quality securities for investment by the Portfolio, which may include consideration of factors such as an issuers financial condition and valuation, capital structure and risk, income durability, dividend sustainability, financial performance, quality of management, policies and strategies, real estate properties and competitive market condition. Other key attributes considered include an issuers liquidity, transparency, diversification, return history and cash flow growth potential. The Portfolio then generally invests in those issuers that Securian believes have potential for long-term sustainable growth in earnings, or those trading at discounts to the underlying value of assets owned.
Securian also seeks companies it believes have strong profitability and the ability to provide a strong return on investment, a dominant market position, stable property management and high-quality buildings and building maintenance. As part of its investment process, Securian also considers macro-economic and technical factors impacting real estate securities. Securian considers various indicators in determining to sell a security, which may include the following: relative valuation is no longer compelling and operating conditions and/or performance are not sustainable, company fundamentals have deteriorated or do not meet expectations, and economics, financial market or sector of the real estate industry has weakened. Securian also may sell a security to reduce the Portfolios holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.
C000017165 Holdings
Top 10 holdings of Securian Real Estate Securities by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Equinix Inc | 10.51% |
| Welltower Inc | 9.21% |
| Prologis Inc | 8.97% |
| Public Storage | 5.39% |
| Digital Realty Trust Inc | 4.81% |
| AvalonBay Communities Inc | 4.57% |
| VICI Properties Inc | 4.41% |
| Alexandria Real Estate Equitie | 4.31% |
| Simon Property Group Inc | 4.10% |
| Invitation Homes Inc | 4.04% |
C000017165 Portfolio Allocation
Asset-class allocation of Securian Real Estate Securities by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 101.3% |
C000017165 Performance
Total returns for C000017165 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 6.4% |
| 3 years (annualised) | -4.1% |
C000017165 Risk Information
Risk metrics for C000017165, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 16.9%
C000017165 Costs and Fees
C000017165 costs about $121 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.21%
- Gross expense ratio: 1.38%
- Portfolio turnover: 59%
- Brokerage commissions: 3.11 bps of average net assets (SEC N-CEN)
C000017165 Cashflows
Over the 12 months to 2024-03, Securian Real Estate Securities had net inflows of $9.88M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-03 | −$1.51M |
| 2024-02 | −$208.34K |
| 2024-01 | −$202.80K |
| 2023-12 | $1.89M |
| 2023-11 | $625.77K |
| 2023-10 | $1.64M |
C000017165 Debt Constituents
No individual debt constituents are reported in Securian Real Estate Securities's latest SEC N-PORT filing.
C000017165 Prospectus and SEC Filings
Official Securian Real Estate Securities filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-04-28
- Prospectus (485BPOS) — filed 2022-04-29
- Prospectus (485BPOS) — filed 2021-04-29
- Portfolio holdings (N-PORT) — filed 2024-05-28
- Portfolio holdings (N-PORT) — filed 2024-02-23
- Portfolio holdings (N-PORT) — filed 2023-11-28
- Annual census (N-CEN) — filed 2024-03-13
- Annual census (N-CEN) — filed 2023-03-15
Related Funds
Other United States Real Estate funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.