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Bluerock Interval Fund Reports Record Quarterly and Year-End Returns, Surpasses $4 Billion in AUM

Bluerock Total Income+ Real Estate Fund, a closed-end interval fund that recently surpassed $4 billion in assets under management, has reported record shareholder net returns in both the fourth quarter and full-year 2021.

Bluerock Total Income+ Real Estate Fund, a closed-end interval fund that recently surpassed $4 billion in assets under management, has reported record net returns in both the fourth quarter and full-year 2021.

According to Bluerock, the fund’s Class I shares (Ticker: TIPWX) posted record net returns of 7.97 percent in the fourth quarter of 2021 and 21.91 percent for full-year 2021, with a 1.6 percent annualized standard deviation since inception, as of December 31, 2021. The fund’s longest running share class, Class A shares (TIPRX, no-load), had an 8.82 percent annualized net return since inception in October 2012 through January 27, 2022.

Bluerock Total Income+ also reported record capital inflows totaling $1.5 billion for 2021. The company said inflows continued to “substantially accelerate” in the fourth quarter and new year, and the fund recently surpassed $4 billion in assets under management.

Citing data from Robert A. Stanger & Co. and Interval Fund Tracker, Bluerock reported that the fund had the highest capital inflows in 2021 among all active interval funds within the direct investment industry and was the third largest interval fund among all 72 active funds ranked by assets under management.

Bluerock Total Income+ paid its 36th consecutive quarterly distribution in December 2021 at the annual rate of 5.25 percent based on current net asset value. Since inception in 2012, the NAV per share has increased more than 38 percent from $25.00 per share to more than $34.60 per Class A share. Shareholders who purchased at the inception NAV earned an equivalent 7.1 percent annualized distribution rate, the company said.

“Historically, we believe institutional investors have targeted 7 percent to 8 percent annualized returns from core, stabilized real estate investments and Bluerock Total Income+ delivered this level of net return in a single quarter and more than 21 percent for the year in 2021,” said Jeffrey Schwaber, chief executive officer of Bluerock Capital Markets. “We continue to have a bullish real estate outlook as we head into the new year as, historically, institutional real estate has both outperformed when emerging from recessionary periods and performed above its long-term average during inflationary periods which we expect to continue well into 2022.”

Citing Morningstar data, Bluerock Total Income+ also reported the highest Sharpe and Sortino Ratios, key measures of risk-adjusted returns, of all domestic ‘40 Act funds in the trailing five years (out of 7,878 funds) and since inception (out of 6,179 funds), as of December 31, 2021.

In addition, Bluerock noted that Class A and Class I shares both reported the highest total net returns in the trailing five-year period out of all seven active real estate-focused interval funds.

The Bluerock Total Income+ Real Estate Fund invests the majority of its assets in private equity real estate securities. As of the fourth quarter of 2021, the value of the underlying real estate held by the securities in which the fund is invested is approximately $292 billion, including investments managed by Ares, Blackstone, Morgan Stanley, Principal, Prudential, Clarion Partners, Invesco and RREEF, among others.

Bluerock is an alternative asset manager with more than $11.8 billion of acquired and managed assets.

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