TFRIX Performance — Terra Firma US Concentrated Realty Equity Fund, Institutional Class
Data updated: 2025-03-13
TFRIX returned +9.24% over one year to Mar 2024. The annualised 3-year return is +2.96%. Against its Real Estate Equity category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $109, against $105 for the category, and to $109 over one year, against $112. Volatility over the past three years was 21.89% a year. In the 12 months to Mar 2024 the fund took in a net $4.0M, and assets reached $21.05M.
TFRIX Growth of $100
What $100 invested in Terra Firma US Concentrated Realty Equity Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Real Estate Equity category average over the same months.
| Period | TFRIX | Category average |
|---|---|---|
| 1 year (Apr 2023 – Mar 2024) | $109 | $112 |
| 3 years (Apr 2021 – Mar 2024) | $109 | $105 |
| Since data start (Jun 2020 – Mar 2024) | $135 | $137 |
TFRIX Trailing Returns
Total returns to Mar 2024, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +9.24% |
| 3 years (annualised) | +2.96% |
TFRIX Annual Returns
Calendar-year total returns of Terra Firma US Concentrated Realty Equity Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2024 (Jan–Mar) | −0.82% |
| 2023 | +12.76% |
| 2022 | −29.70% |
| 2021 | +49.81% |
| 2020 (Jun–Dec) | +14.30% |
TFRIX 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | −4.1% | +2.4% | +1.1% | — | — | — | — | — | — | — | — | — |
| 2023 | +10.3% | −5.1% | −2.2% | +1.0% | −4.2% | +4.3% | +1.9% | −3.2% | −6.4% | −4.2% | +11.6% | +10.6% |
| 2022 | −9.0% | −3.9% | +6.0% | −4.6% | −6.8% | −7.7% | +9.6% | −5.9% | −11.7% | +2.4% | +5.2% | −5.7% |
| 2021 | −0.1% | +2.3% | +5.6% | +8.4% | +0.5% | +4.0% | +6.5% | +2.3% | −3.6% | +7.8% | −1.1% | +9.6% |
| 2020 | — | — | — | — | — | +3.0% | +3.1% | +0.8% | −2.7% | −2.3% | +9.0% | +3.1% |
TFRIX Risk
Risk measures from monthly returns over Apr 2021 – Mar 2024.
- 3-year volatility (annualised): 21.89%
- 3-year Sharpe ratio: -0.07 (vs 4.5% risk-free rate)
- Best month: +11.58% (Nov 2023)
- Worst month: −11.73% (Sep 2022)
TFRIX Fund Flows
Monthly money in and out of Terra Firma US Concentrated Realty Equity Fund, from SEC Form N-PORT.
- 12-month net flow: $4.0M
- 12-month gross sales (incl. reinvestments): $976K
- Sales ÷ redemptions: -0.33×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Mar 2024 | $43K | $587K | −$544K |
| Feb 2024 | $87K | $323K | −$236K |
| Jan 2024 | $122K | $408K | −$286K |
| Dec 2023 | $423K | −$1.2M | $1.6M |
| Nov 2023 | $41K | −$469K | $510K |
| Oct 2023 | $40K | −$249K | $289K |
| Sep 2023 | $40K | −$842K | $881K |
| Aug 2023 | $52K | −$306K | $358K |
| Jul 2023 | $36K | −$312K | $348K |
| Jun 2023 | $47K | −$350K | $397K |
| May 2023 | $38K | −$371K | $409K |
| Apr 2023 | $7K | −$232K | $239K |
TFRIX Assets Under Management
Net assets of Terra Firma US Concentrated Realty Equity Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2024-03-31 | $21.05M |
| 2023-12-31 | $22.40M |
| 2023-09-30 | $20.62M |
| 2023-06-30 | $23.80M |
| 2023-03-31 | $24.52M |
| 2022-12-31 | $26.12M |
| 2022-09-30 | $26.86M |
| 2022-06-30 | $30.03M |
| 2022-03-31 | $37.63M |
| 2021-12-31 | $41.93M |
| 2021-09-30 | $34.89M |
| 2021-06-30 | $33.79M |
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.