SAREX Performance — SA Real Estate Securities Fund
Data updated: 2026-09-03
SAREX returned +14.60% year to date and +13.93% over one year to Jun 2026. Annualised returns are +9.22% over 3 years and +2.98% over 5 years. The fund trailed its Real Estate category average: $100 invested three years ago grew to $130, against $132 for the category, and to $114 over one year, against $115. Volatility over the past three years was 16.61% a year. In the 12 months to Jun 2026 the fund lost a net $4.0M, and assets reached $126.93M.
SAREX Growth of $100
What $100 invested in SA Real Estate Securities Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Real Estate category average over the same months.
| Period | SAREX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $114 | $115 |
| 3 years (Jul 2023 – Jun 2026) | $130 | $132 |
| 5 years (Jul 2021 – Jun 2026) | $116 | $119 |
| Since data start (Jul 2019 – Jun 2026) | $141 | $151 |
SAREX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +14.60% |
| 1 year | +13.93% |
| 3 years (annualised) | +9.22% |
| 5 years (annualised) | +2.98% |
SAREX Annual Returns
Calendar-year total returns of SA Real Estate Securities Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +14.60% |
| 2025 | +0.76% |
| 2024 | +4.72% |
| 2023 | +10.58% |
| 2022 | −25.41% |
| 2021 | +40.82% |
| 2020 | −6.25% |
| 2019 (Jul–Dec) | +7.07% |
SAREX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +2.5% | +7.5% | −6.4% | +9.1% | +0.2% | +1.6% | — | — | — | — | — | — |
| 2025 | +0.7% | +4.1% | −2.5% | −1.7% | +1.0% | −0.1% | −1.5% | +3.1% | +0.4% | −2.5% | +2.2% | −2.2% |
| 2024 | −4.8% | +1.8% | +1.6% | −7.7% | +5.4% | +2.4% | +6.9% | +5.7% | +2.9% | −3.6% | +3.5% | −8.0% |
| 2023 | +10.0% | −5.9% | −1.8% | +0.4% | −4.3% | +5.1% | +1.9% | −3.3% | −7.1% | −3.0% | +11.7% | +8.7% |
| 2022 | −8.1% | −4.1% | +7.1% | −3.9% | −4.7% | −6.9% | +8.4% | −5.9% | −12.6% | +3.1% | +6.0% | −4.9% |
| 2021 | 0.0% | +2.5% | +5.5% | +8.0% | +0.8% | +3.0% | +4.5% | +2.0% | −6.0% | +7.1% | −1.3% | +9.6% |
| 2020 | +1.2% | −7.0% | −18.5% | +8.6% | +1.6% | +2.0% | +3.2% | −0.2% | −2.6% | −3.4% | +9.8% | +2.1% |
| 2019 | — | — | — | — | — | — | +1.6% | +4.2% | +1.5% | +1.0% | −1.7% | +0.4% |
SAREX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 16.61%
- 3-year Sharpe ratio: 0.28 (vs 4.5% risk-free rate)
- Best month: +11.70% (Nov 2023)
- Worst month: −7.98% (Dec 2024)
SAREX Fund Flows
Monthly money in and out of SA Real Estate Securities Fund, from SEC Form N-PORT.
- 12-month net flow: −$4.0M
- 12-month gross sales (incl. reinvestments): $26.0M
- Sales ÷ redemptions: 0.87×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $2.9M | $3.7M | −$849K |
| May 2026 | $1.3M | $2.1M | −$789K |
| Apr 2026 | $2.2M | $3.5M | −$1.3M |
| Mar 2026 | $2.1M | $2.6M | −$498K |
| Feb 2026 | $1.9M | $2.4M | −$479K |
| Jan 2026 | $1.5M | $1.6M | −$86K |
| Dec 2025 | $5.7M | $2.9M | $2.8M |
| Nov 2025 | $1.5M | $2.5M | −$943K |
| Oct 2025 | $2.1M | $2.3M | −$235K |
| Sep 2025 | $1.2M | $1.5M | −$279K |
| Aug 2025 | $1.7M | $2.1M | −$469K |
| Jul 2025 | $1.8M | $2.7M | −$896K |
SAREX Assets Under Management
Net assets of SA Real Estate Securities Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $126.93M |
| 2026-03-31 | $117.12M |
| 2025-12-31 | $114.45M |
| 2025-09-30 | $119.38M |
| 2025-06-30 | $118.70M |
| 2025-03-31 | $125.69M |
| 2024-12-31 | $125.57M |
| 2024-09-30 | $140.56M |
| 2024-06-30 | $123.94M |
| 2024-03-31 | $126.83M |
| 2023-12-31 | $130.85M |
| 2023-09-30 | $113.16M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.