Average annual total returns as of 2/28/2023
PREDEX Class I (PRDEX) monthly returns
PREDEX Class I (PRDEX) quarterly and annual returns
PREDEX Class T (PTDEX) monthly returns
PREDEX Class W (PWDEX) monthly returns
1 Annualized total return
2 Annualized total return since July 1, 2016 when the class commenced operations
3 Annualized total return since March 1, 2018 when the class commenced operations
4 Adjusted for maximum initial sales charge of 4.25%
The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 877.940.7202.
Class I and Class W shares are offered at net asset value. Class T shares are offered subject to a maximum load of 4.25% of the offering price. The total annual expense ratio is estimated to be 1.34%, 1.73%, and 1.73% for Class I, Class T and Class W respectively according to the Fund’s prospectus dated September 1, 2022. The Fund’s investment adviser has contractually agreed to limit its fees and absorb expenses of the Fund until at least August 31, 2024 so that the annual operating expenses (excluding interest and extraordinary expenses, if any) will not exceed 1.10%, 1.35% and 1.35% per annum of the Fund’s average daily net assets of Class I, Class T and Class W, respectively.
Fund returns reflect actual fee waivers and reimbursement of expenses for the time periods represented. Had fees and expenses not been waived and reimbursed, returns would have been lower. See the prospectus for more information on current fees and expenses. Performance for periods less than one year is not annualized.
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El Segundo, CA
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The Fund is a continuously offered, closed-end management investment company that is operated as an interval fund. Shares of the Fund will not be listed on any securities exchange, are not redeemable and not appropriate for investors requiring liquidity. You may receive little or no return on your investment or you may lose money by investing in the Fund.
The Fund will not invest in real estate directly but will concentrate its investments in other funds that invest principally in real estate and real estate related industry securities (“Underlying Investment Vehicles”). Portfolio returns will be significantly impacted by the performance of the real estate market. In general, real estate values can be affected by a variety of factors: supply and demand for properties, the economic health of the country or of different regions, and the strength of specific industries that rent properties.
PREDEX’s distribution policy may, under certain circumstances, have certain adverse consequences to the Fund and its shareholders because it results in a payment that is a return of capital, rather than a distribution. Fund shareholders will bear two layers of fees and expenses: asset-based fees and expenses at the PREDEX level, and asset-based fees, incentive allocations or fees and expenses at the Underlying Investment Vehicle level. PREDEX’s performance depends in large part upon the performance of the Underlying Investment Vehicle managers and their selected strategies. The Fund is non-diversified and its performance may be more sensitive to any single economic, business, political or regulatory occurrence because PREDEX may invest more than 5% of its total assets in the securities of one or more issuers.
Liquidity only provided through quarterly repurchase offers for no less than 5% of the Fund’s shares at net asset value. There is no guarantee that an investor will be able to sell all shares in a repurchase offer. Quarterly repurchases by PREDEX of its shares typically will be funded from available cash or sales of portfolio securities. Payment for repurchased shares may require PREDEX to liquidate portfolio holdings earlier than the Adviser otherwise would liquidate such holdings, potentially resulting in losses. The use of leverage (borrowing money to purchase properties or securities) will cause an Underlying Investment Vehicle to incur additional expenses and significantly magnify losses in the event of underperformance of the assets purchased with borrowed money.
Investors should carefully consider the investment objectives, risks, charges and expenses of PREDEX. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-877-940-7202. The prospectus should be read carefully before investing. PREDEX is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Union Square Capital Partners, LLC is not affiliated with Northern Lights Distributors, LLC.