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Tuesday, February 08, 2011|
WSJ Goes Apartment-Hunting With a Mutual Fund
The Wall Street Journal is going apartment hunting with a mutual fund that has reportedly managed to outperform its peers in a tough real-estate environment.
The $1 billion Virtus Real Estate Securities Fund [see profile] managed to outperform the broad stock market over the past year by betting on apartments that were on the rebound from deflated pricing. The fund, which is managed by Geoff Dybas and Frank Haggerty reportedly focuses on real estate where land isn't available for others to build on next door, and where occupancy is expected to rise as the economy recovers.
It has generated a return of 43 percent over the past 12 months through Friday, compared to the Standard & Poor's 500-stock index's total return of 26 percent over that period. It also outperformed the real-estate category's one-year return of 41 percent, according to Morningstar.
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