VGSRX — Vert Global Sustainable Real Estate Fund
Data updated: 2023-11-29
VGSRX — Vert Global Sustainable Real Estate Fund. China Real Estate · $292.03M AUM · 0.45% expense ratio. Holdings, fees, performance and SEC filings.
VGSRX Fund Overview
VGSRX — Vert Global Sustainable Real Estate Fund is a US mutual fund managed by Manager Directed Portfolios, categorised as China 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: Manager Directed Portfolios
- Category: China Real Estate
- Assets under management: $292.03M
- 1-year return: 4.1%
- Ticker: VGSRX
- SEC CIK: 0001359057
- SEC series ID: S000059043
- Share class ID: C000193646
VGSRX Investment Objective and Strategy
Vert Global Sustainable Real Estate Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Manager Directed Portfolios.
Investment objective
The Vert Global Sustainable Real Estate Fund (the Fund) seeks to achieve long-term capital appreciation.
Principal investment strategy
"The Fund seeks to achieve exposure to a broad portfolio of securities of U.S. and non-U.S. companies of any size in the real estate industry, with a focus on real estate investment trusts (REITs) or companies that the Advisor considers to be similar to REITs because of the way they are treated by tax authorities or because of the way they are required to conduct their business (REIT-like entities). REITs and REIT-like entities are types of real estate companies that pool investors funds for investment primarily in income-producing real estate or real estate related loans or interests, and may include foreign REIT-like entities. The Fund will invest at least 80% of its net assets in securities of companies principally engaged in the real estate industry which meet the Advisors ESG criteria, as described below.
The Fund generally considers a company to be principally engaged in the real estate industry if the company: (i) derives at least 50% of its revenue or profits from the ownership, management, development, construction, or sale of residential, commercial, industrial, or other real estate; (ii) has at least 50% of the value of its assets invested in residential, commercial, industrial, or other real estate; or (iii) is organized as a REIT or REIT-like entity. The Advisor intends to take into account the impact that real estate companies have on the environment and other sustainability considerations when making investment decisions for the Funds investment portfolio. In assessing sustainability, the Advisor may consider different metrics, including environmental, social, and governance (ESG) criteria.
Some of the environmental criteria the Advisor may consider include energy efficiency, water use, land use, biodiversity, emissions and pollution, waste, and risks due to climate change vulnerability such as flood risk, among others. Some of the social criteria the Advisor may consider include employee policies and labor management, health and safety, tenant engagement, community relations and land use planning, among others. Some of the governance criteria that the Advisor may consider include reporting and disclosure, board diversity and independence, executive pay, ethics, bribery and corruption, among others. The Advisor will engage third party service providers to provide research relating to sustainability criteria of the securities in the Funds investment portfolio. The Fund intends to purchase securities of companies associated with countries that the Advisor has identified as approved markets for investment for the Fund (which may include issuers in emerging markets).
As of the date of this Prospectus, the Fund may invest in securities of companies associated with: the U.S., Canada, France, United Kingdom, Belgium, Netherlands, Hong Kong, Singapore, Japan, Australia, New Zealand, Spain, Germany, Ireland, Norway, Sweden, Switzerland, Austria, Italy, Finland, Israel, South Africa, Thailand, Turkey, Mexico, Malaysia, Taiwan, Greece, South Korea, Brazil, and China (collectively, the ""Approved Markets""). The Advisor also may authorize other countries for investment in the future, in addition to the Approved Markets listed above. In addition, the Fund may continue to hold securities of countries that are not listed above as Approved Markets, but had been authorized for investment in the past, and may reinvest distributions received in connection with such existing investments in such previously Approved Markets.
The Fund invests in companies principally engaged in the real estate industry using a modified market capitalization weighted approach. A companys market capitalization is the number of its shares outstanding times its price per share. In general, the higher the relative market capitalization of a real estate company within an Approved Market, the greater its representation in the Fund. The Advisor may modify such market capitalization weightings by adjusting the representation in the Fund of an eligible company, or excluding a company, after considering the sustainability of the company, as well as free float, momentum, trading strategies, liquidity, profitability, and other factors that the Advisor determines to be appropriate, given market conditions. The Advisor also may limit or fix the Funds exposure to a particular country or issuer.
The Fund may purchase or sell futures contracts and options on futures contracts for equity securities and indices, to adjust market exposure based on actual or expected cash inflows to or outflows from the Fund. The Fund may lend portfolio securities to generate additional income."
VGSRX Performance
Total returns for VGSRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 4.1% |
| 3 years (annualised) | 2.2% |
VGSRX Risk Information
Risk metrics for VGSRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 19.8%
VGSRX Costs and Fees
VGSRX costs about $45 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.45%
- Gross expense ratio: 0.62%
- Portfolio turnover: 9%
- Brokerage commissions: 1.50 bps of average net assets (SEC N-CEN)
VGSRX Cashflows
Over the 12 months to 2023-09, Vert Global Sustainable Real Estate Fund had net inflows of $232.84M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-09 | $9.02M |
| 2023-08 | $20.57M |
| 2023-07 | $12.14M |
| 2023-06 | $12.69M |
| 2023-05 | $23.76M |
| 2023-04 | $9.11M |
VGSRX Debt Constituents
No individual debt constituents are reported in Vert Global Sustainable Real Estate Fund's latest SEC N-PORT filing.
VGSRX Prospectus and SEC Filings
Official Vert Global Sustainable Real Estate Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-11-09
- Prospectus (485BPOS) — filed 2023-10-24
- Prospectus (485BPOS) — filed 2022-10-27
- Portfolio holdings (N-PORT) — filed 2023-11-29
- Portfolio holdings (N-PORT) — filed 2023-08-29
- Portfolio holdings (N-PORT) — filed 2023-05-22
- Annual census (N-CEN) — filed 2023-09-13
- Annual census (N-CEN) — filed 2022-09-13
Related Funds
Other China 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.