Total Income+ Real Estate Fund




The Bluerock Total Income+ Real Estate Fund (the “Fund”) is a public fund utilizing a multi-manager, multi-strategy, and multi-sector approach. The Fund allows individuals to invest in private, institutional real estate securities alongside some of the nation’s largest endowment and pension plans.

Potential Investment Benefits

Income
Primarily derived from investing in income producing institutional real estate investment funds.
Portfolio Diversity
The Fund’s portfolio is intended to be widely diversified by manager, strategy, property sector and geography. The Fund intends to pursue an 80% private/20% public real estate allocation.
Daily Net Asset Value (NAV)
The Fund’s NAV is calculated and published each day after the close of the New York Stock Exchange.
Liquidity
The Fund’s interval structure allows for the redemption at NAV of a stated portion of outstanding shares each quarter.
Capital Appreciation
Sought through the selection of investments that provide the opportunity to achieve long-term growth with low to moderate volatility.
Diversification
To seek a combination of current income, capital preservation and long-term capital appreciation, the Fund’s portfolio is intended to be widely diversified by manager, strategy, property sector and geography.
Low Correlation
The Fund strategically invests in a combination of institutional, private and publicly traded real estate investments that may be lower correlated to the broader equity and fixed income markets.

This is an actively managed dynamic portfolio. There is no guarantee that any investment (or this investment) will achieve its objectives, goals, generate positive returns, or avoid losses.

Why Invest in Real Estate?
Adding real estate to a traditional investment portfolio of stocks, bonds, and treasury bills introduces a non-correlated asset that may reduce risk and enhance overall return.
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10 Year Total Return
(2004-2013*) why-real-estate

Past performance is no guarantee of future results.

*Information contained herein was created by the Sponsor and has not been independently veri­fied. The data presented includes information collected from the various indices described in more detail on the back page and do not include fees and expenses which could significantly alter performance. As such, the scenarios presented herein may not occur and performance could vary greatly.

Data Source
S&P 500 (Large Cap Stocks): An unmanaged composite of 500 large-capitalization companies, chosen for market size, liquidity and industry grouping, among other factors. The S&P 500 is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe. Risks include the dynamic fluctuations of the market and possible loss of principal. You cannot invest directly in an index and unmanaged indices do not reflect fees, expenses or sales charges.

NCREIF NPI Total Return (Institutional Private Real Estate): The NCREIF Property Index (NPI) data is based on institutional investments and presented exclusive of leverage and fees. The NPI is based on the unleveraged returns from a large pool of individual, investment grade commercial real estate properties across retail, office, industrial, and apartment sectors. The market values of the properties in the NPI are determined by appraisals and not by market - based prices of the programs. Risks include declining property values, supply & demand factors, economic health of the country and/or regions and strength of industries that rent properties.

NAREIT All Equity Return (Traded REITs): The FTSE NAREIT US Real Estate Index Series is designed to present investors with a comprehensive family of REIT performance indexes that span the commercial real estate space across the US economy, offering exposure to all investment and property sectors. The FTSE NAREIT All Equity REITs index contains all tax-qualified REITs with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property that also meet minimum size and liquidity criteria.

Bonds: Federal Reserve of St. Louis 10-year yields, represents medium term fixed income yields.

T Bills: 3-month treasury bill yield, represents short term fixed income yields. The 10-year and 3 - month government bonds are considered low risk investments backed, but not guaranteed, by the U.S. Government.

Russell 2000 (Small Cap Stocks): The Russell 2000 Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 is a subset of the Russell 3000 Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000 Index is constructed to provide a comprehensize and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set.Average returns represent compounded annual returns. Specific real estate offerings may differ materially compared to the direct real estate transactions that make up the Indexes. The NPI is based on the unleveraged returns from a large pool of individual, investment grade commercial real estate properties across retail, office, industrial, and apartment sectors. The market values of the properties in the NPI are determined by appraisals and not by market-based prices of the programs. The NPI data is based on institutional investments and is presented exclusive of leverage and fees. The NCREIF ODCE Index is based on the returns from several large private real estate funds and the performance of these fund components may vary substantially from the Fund. The FTSE/ NAREIT Index component represents the FTSE/NAREIT All Equity REIT Index designed to track the performance of publicly traded Equity REITs that span the commercial real estate space across the US economy, offering exposure to all property sectors. The Indexes are not a measure of our Fund performance, but our management feels the Indexes are appropriate and accepted indexes for the purpose of evaluating the potential risks and returns of real estate as compared to other investments. The Fund differs from the Indexes in several material aspects including: the Fund can invest in debt securities; the Fund may incur leverage; the Fund requires the payment of up-front and other fees that typically exceed those of institutional programs, as well as expenses related to being a public company. All of the indexes show gross returns at the property level and do not reflect the impact of management and other investment entity fees and expenses as well as those associated with raising capital, which lowers returns. It is not expected that investments in the Fund will reflect any of the index returns.
Strategic Allocation
The Fund provides access to a diversified holding of large, private, ‘best-in-class’ real estate securities typically available only to institutions (and without the large minimum investment and long holding period normally required).
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TI+ seeks to invest within two, primary categories:
Private Equity Real Estate Securities
Which acquire and receive rental income from the direct ownership of real estate which include but are not limited to retail, office, multifamily, hospitality, industrial, residential, medical and self-storage properties. These private real estate securities have been historically unavailable to individual investors, due to their large minimum investment requirements.
Publicly Traded Real Estate Securities
Which invest in the debt and equity issued by publicly traded real estate investment trusts (REITs) and other similar structures.

There is no guarantee that the Fund will achieve its objectives, generate profits, or avoid losses.

Disciplined Strategy
The Fund’s disciplined investment strategy focuses on identifying opportunities that:
  • Emphasize current income generation;
  • Have attractive risk-adjusted returns;
  • Low to moderate volatility; and
  • Low correlation to the broader markets.
Investment Selection
To seek a combination of current income, capital appreciation, long-term capital appreciation and low volatility, the Fund’s portfolio is strategically diversified by geography, sector, and manager.
Diversity by Geography
TI+ seeks diversification by geography, focusing on funds with assets in high-growth, underserved markets. By investing across all regions of the U.S., the Fund seeks to offer lower correlation to any single-area market.
Diversity by Sector
TI+ invests in strategies diversified by property sector, including retail, office, multifamily, industrial, and other. Each real estate sector has its own investment and economic cycles, adding further diversity to the portfolio.
Diversity by Manager
TI+ seeks to identify a mix of leading real estate investment managers to help achieve its objectives. The Fund’s current investments allow shareholders to invest directly alongside some of the nation’s largest public pension and retirement entities. The Gross Asset Value of the underlying real estate in the securities listed below surpasses $47 billion.

There is no guarantee that the Fund will achieve its objectives, generate profits, or avoid losses.