Griffin Institutional Access Real Estate Fund (Share Classes: GIREX, GCREX, GRIFX, GLREX and GMREX), a closed-end interval fund sponsored by Griffin Capital Corporation, has released its annual report for the fiscal year ending September 30, 2018.
The company announced that since its inception on June 30, 2014 with an initial share price of $25.00, the fund has grown to more than $2.6 billion in assets under management, a significant increase over AUM of $1.8 billion reported in 2017.
Griffin reports that its fee-waived, A Class shares have generated a cumulative return of 34.31 percent and a 7.19 percent annualized return. The performance of its remaining shares is impacted by up to a 5.75-percent sales charge.
Griffin Institutional Access Real Estate Fund’s diversified investments are comprised of multiple property types throughout the U.S. In the first quarter, it increased its allocation of publicly traded real estate to garner net asset value discounts during periods of market volatility. It also invested more resources in the industrial sector, specifically distribution facilities in high-population areas where there is a growing demand for next-day shipping.
The fund is an actively managed portfolio of private real estate funds with 20.18 percent invested in public real estate securities, 78.24 percent invested in private real estate, and 1.58 percent in cash.