RASCX — Brookfield Real Assets Securities Fund
Data updated: 2024-05-29
RASCX — Brookfield Real Assets Securities Fund. United States Mid Cap Blend / Core Equity · $49.45M AUM. Holdings, fees, performance and SEC filings.
RASCX Fund Overview
RASCX — Brookfield Real Assets Securities Fund is a US mutual fund managed by Brookfield Investment Funds, categorised as United States Mid Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Brookfield Investment Funds
- Category: United States Mid Cap Blend / Core Equity
- Assets under management: $49.45M
- 1-year return: 3.2%
- Ticker: RASCX
- SEC CIK: 0001520738
- SEC series ID: S000047007
- Share class ID: C000146939
RASCX Investment Objective and Strategy
Brookfield Real Assets Securities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Brookfield Investment Funds.
Investment objective
The Brookfield Real Assets Securities Fund (the Fund or the Real Assets Securities Fund) seeks total return, which is targeted to be in excess of inflation, through growth of capital and current income.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing in the real assets asset class, which includes the following categories: Real Estate Securities; Infrastructure Securities; and Natural Resources Securities (collectively, Real Asset Securities). Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in Real Asset Securities (the 80% Policy). The Fund may purchase both equity and fixed income securities. The Fund actively trades portfolio securities. The Fund may invest in securities of companies or issuers of any size market capitalization. The Fund will invest in companies or issuers located throughout the world and there is no limitation on the Funds investments in foreign securities or in emerging markets.
The Fund may change the 80% Policy without shareholder approval. The Fund will provide shareholders with written notice at least 60 days prior to the implementation of any change to the 80% Policy. In managing the Fund, the Adviser will determine the Funds strategic asset allocation. The Fund has flexibility in the relative weightings given to each of these categories. In addition, the Fund may, in the future, invest in additional investment categories other than those listed herein, to the extent consistent with the Funds investment objective. The Fund may invest in common, convertible and preferred stock, restricted (144A) or private securities, asset-backed securities (ABS) including ABS that are backed by interest in real estate or land, mortgage-backed securities (MBS) of any kind, interests in loans and/or whole loan pools of mortgages, mortgage real estate investment trusts (mortgage REITs), investment grade fixed income securities, high yield fixed income securities (junk bonds), collateralized loan obligations (CLOs), bank loans (including participations, assignments, senior loans, delayed funding loans and revolving credit facilities), open-end and closed-end investment companies, including exchange-traded funds (ETFs), exchange-traded notes (ETNs), and securities issued and/or guaranteed by the U.S.
Government, its agencies or instrumentalities or sponsored corporations, as described in this Prospectus. The Fund may invest in fixed income securities of any maturity. The Funds investments in MBS may include residential MBS (RMBS) or commercial MBS (CMBS). The Fund defines a Real Estate Security as, any security tied to a company or issuer that (i) derives at least 50% of its revenues from the ownership, operation, development, construction, financing, management or sale of commercial, industrial or residential real estate and similar activities, or (ii) commits at least 50% of its assets to activities related to real estate. For purposes of selecting investments in Real Estate Securities, the Fund defines the real estate sector broadly. It includes, but is not limited to, the following: real estate investment trusts (REITs); real estate operating companies (REOCs); firms dependent on real estate holdings for revenues and profits, including lodging, leisure, timber, mining, and agriculture companies; and debt securities, including securitized obligations, which are predominantly supported by real estate assets.
REITs are companies that own interests in real estate or in real estate related loans or other interests, and their revenue primarily consists of rent derived from owned, income producing real estate properties and capital gains from the sale of such properties. A REIT in the United States is generally not taxed on income distributed to shareholders so long as it meets tax-related requirements, including the requirement that it distribute substantially all of its taxable income to its shareholders. REOCs are real estate companies that have not elected to be taxed as REITs and therefore are not required to distribute taxable income and have fewer restrictions on what they can invest in. The Fund defines an Infrastructure Security as, any security tied to a company or issuer that (i) derives at least 50% of its revenue or profits, either directly or indirectly, from infrastructure assets, or (ii) commits at least 50% of its assets to activities related to infrastructure.
For purposes of selecting investments in Infrastructure Securities, the Fund defines the infrastructure sector broadly. It includes, but is not limited to, the physical structures, networks and systems of: transportation; energy; water and sewage; and communication. Infrastructure Securities also includes master limited partnerships (MLPs). From time to time, the Fund may invest in stapled securities to gain exposure to infrastructure companies in Australia. A stapled security, which is widely used in Australia, is a security that is comprised of two parts that cannot be separated from one another. The two parts of a stapled security are a unit of a trust and a share of a company. The resulting security is influenced by both parts, and must be treated as one unit at all times, such as when buying or selling the security.
The Fund defines a Natural Resources Security as, any security tied to a company or issuer that (i) derives at least 50% of its revenues, profits or value, either directly or indirectly, from natural resources assets including, but not limited to: Timber and Agriculture assets and securities; Commodities and Commodity-Linked assets and securities, including, but not limited to, precious metals, such as gold, silver and platinum, ferrous and nonferrous metals, such as iron, aluminum and copper, metals such as uranium and titanium, hydrocarbons such as coal, oil and natural gas, timberland, undeveloped real property and agricultural commodities; and Energy, including the exploration, production, processing and manufacturing of hydrocarbon-related and chemical-related products; or (ii) provides supporting services to such natural resources companies.
The Fund may use futures and options on securities, indices, commodities, and currencies, forward foreign currency exchange contracts, swaps and other derivatives. A derivative is a security or instrument whose value is determined by reference to the value or the change in value of one or more securities, currencies, indices or other financial instruments. The Fund may use derivatives for a variety of purposes, including: as a hedge against adverse changes in the market prices of securities, interest rates or currency exchange rates; as a substitute for purchasing or selling securities; to increase the Funds return as a non-hedging strategy that may be considered speculative; and to manage the Funds portfolio characteristics. Outside of its investments in Real Asset Securities, the Fund may invest up to 20% of its net assets in equities or fixed income securities other than the types described above, including in Treasury Inflation Protected Securities (TIPS) and other inflation-linked fixed income securities.
Asset allocation decisions will be made by Craig Noble and Larry Antonatos. The Adviser employs a top-down macroeconomic perspective complemented by a bottom-up sector valuation methodology when determining asset allocation. For security selection, the Adviser utilizes a fundamental, bottom-up, value-based selection methodology, taking into account short-term considerations, such as temporary market mispricing, and long-term considerations, such as values of assets and cash flows. The Adviser also draws upon the expertise and knowledge within Brookfield Asset Management Inc. and its affiliates, which provides extensive owner/operator insights into industry drivers and trends. The Adviser takes a balanced approach to investing, seeking to mitigate risk through diversification, credit analysis, economic analysis and review of sector and industry trends.
The Adviser uses proprietary research to select individual securities that it believes can add value from income and/or the potential for capital appreciation. The proprietary research may include an assessment of a company's general financial condition, its competitive positioning and management strength, as well as industry characteristics and other factors. The Fund may sell a security that becomes overvalued or no longer offers an attractive risk/reward profile. A security may also be sold due to changes in portfolio strategy or cash flow needs. No assurance can be given that the Funds investment objective will be achieved. The Funds policy of concentration in investments offering exposure to real assets, which includes Real Estate Securities, Infrastructure Securities and Natural Resource Securities as defined in this Prospectus, is a fundamental policy of the Fund.
This fundamental policy may not be changed without the approval of the holders of a majority of the Funds outstanding voting securities, as defined in the 1940 Act.
RASCX Holdings
Top 10 holdings of Brookfield Real Assets Securities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| iShares GSCI Commodity Dynamic | 2.79% |
| NextEra Energy Inc | 2.30% |
| Equinix Inc | 1.77% |
| Prologis Inc | 1.74% |
| Sempra | 1.72% |
| Transurban Group | 1.64% |
| Cheniere Energy Inc | 1.47% |
| Duke Energy Corp | 1.43% |
| PG&E Corp | 1.37% |
| NiSource Inc | 1.36% |
RASCX Portfolio Allocation
Asset-class allocation of Brookfield Real Assets Securities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 79.1% |
| Fixed Income | 19.3% |
| Cash & Equivalents | 1.3% |
RASCX Performance
Total returns for RASCX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 3.2% |
| 3 years (annualised) | 1.2% |
RASCX Risk Information
Risk metrics for RASCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.7%
RASCX Costs and Fees
RASCX costs about $190 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.90%
- Gross expense ratio: 2.50%
- Portfolio turnover: 92%
- Brokerage commissions: 14.15 bps of average net assets (SEC N-CEN)
RASCX Cashflows
Over the 12 months to 2024-03, Brookfield Real Assets Securities Fund had net inflows of $3.45M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-03 | $864.91K |
| 2024-02 | −$15.38K |
| 2024-01 | −$2.79K |
| 2023-12 | $40.61K |
| 2023-11 | $41.60K |
| 2023-10 | $15.94K |
RASCX Debt Constituents
Largest debt holdings of Brookfield Real Assets Securities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Exelon Corp. | 0.17% |
| Eversource Energy | 0.16% |
| American Homes 4 Rent | 0.16% |
| Dish Network Corp. | 0.15% |
| Canadian Natl Railway | 0.15% |
| Tenet Healthcare Corp. | 0.15% |
| Bp Cap Markets America | 0.15% |
| Con Edison Co. Of Ny, Inc. | 0.15% |
| Energy Transfer LP | 0.15% |
| Monongahela Power Co. | 0.14% |
RASCX Prospectus and SEC Filings
Official Brookfield Real Assets Securities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-04-29
- Prospectus (485BPOS) — filed 2021-04-30
- Prospectus supplement (497) — filed 2023-05-03
- Portfolio holdings (N-PORT) — filed 2024-05-29
- Portfolio holdings (N-PORT) — filed 2024-02-27
- Portfolio holdings (N-PORT) — filed 2023-11-29
- Annual census (N-CEN) — filed 2024-03-15
- Annual census (N-CEN) — filed 2023-03-16
Related Funds
Other United States Mid Cap Blend / Core Equity 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.