TORONTO, Sept. 22, 2022 /CNW/ – Evolve Funds Group Inc. ("Evolve" or "the Manager") is pleased to announce the launch of an actively managed portfolio of public listed real estate securities providing enhanced yield to investors. The Evolve Slate Global Real Estate Enhanced Yield Fund ("BILT") has closed its initial offering of units and will begin trading on the Toronto Stock Exchange ("TSX") today under the ticker symbol: BILT. Evolve has retained Slate Securities L.P. ("Slate Securities"), an investment management business of Slate Asset Management ("Slate"), as the sub-advisor for BILT.
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"REITs can be an effective hedge to inflation," says Raj Lala, President and CEO at Evolve. "BILT provides investors with access to the real estate market through enhanced yield and the expertise of Slate's portfolio management team. Slate is a leader in the real estate market with a proven track record of creating value for partners and investors."
The investment objective of BILT is to provide a recurring income level consistent with the underlying rental income derived from properties owned by publicly listed real estate issuers. BILT targets a yield return in excess of the yield return of the FTSE EPRA/NAREIT Developed Index (the "Real Estate Index"). BILT aims to achieve a level of volatility which is lower than the volatility of the FTSE EPRA/NAREIT Developed Index measured by using the standard deviation of returns. The expected return will be derived from the yield return but also from capital appreciation and potentially other yield enhancing strategies.
Slate Securities will actively manage the portfolio through an identified universe of about 2,000 issuers on a global basis that fall within its definition of real estate securities. The universe is reassessed and may vary over time as issuers and business models evolve. Slate Securities believes that option writing may have the potential to add value and is an effective way to help lower the level of volatility for an investor and potentially improve returns.
Slate Securities is an investment management platform specializing in real estate investing, across the public and private real estate markets. As a wholly owned subsidiary of Slate Asset Management, a global investment and asset management platform focused on real assets, Slate Securities benefits from deep expertise, insights and Slate investment opportunities. Slate Securities was founded with the objective of being the real estate solution for allocators.
"We are very pleased to be working with Evolve, a leader in thematic ETFs, to help bring BILT to the market at a time when real estate securities present a uniquely compelling investment opportunity," says Fraser McEwen, Partner at Slate Securities. "Our team's deep real estate investing expertise and track record of experience with yield focused real estate securities solutions will be a distinct advantage as we seek to construct and manage this portfolio to deliver long-term, sustainable value for our investors."
BILT offers Canadian dollar denominated hedged ETF units ("Hedged ETF Units").
With over $2.8 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
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Slate Securities is an investment management platform specializing in real estate investing, across the public and private markets. We invest across the real estate spectrum, taking a long-term view of portfolio construction and focusing on fundamentals to meet the goals and objectives of our clients. As a wholly-owned subsidiary of Slate Asset Management, a global real asset investor and manager, Slate Securities benefits from deep expertise, insights and Slate investment opportunities. Visit slatesecurities.com to learn more.
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate's platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. Please read the prospectus before investing. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to the ETF and mutual fund. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.
No securities regulatory authority has approved the contents of this news release. Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
BILT's securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States, except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in any jurisdiction in which the offering or sale is not permitted.
SOURCE Evolve ETFs
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