AR Capital International Real Estate Income Fund
AR Capital International Real Estate Income Fund, Advisor shares, will pursue current income with the potential for capital appreciation by investing in income producing securities related to the real estate industry. “International” actually means “global,” since they expect “at least” 40% non-US and even that will be mostly achieved through ADRs. The manager has not yet been named. The minimum initial investment is $2500, raised to $100,000 for those buying directly from the advisor. The opening expense ratio will be capped, but hasn’t yet been specified.
CM Advisors Defensive Fund
CM Advisors Defensive Fund will pursue capital preservation in all market conditions by using “various investment strategies and techniques.” Uh-huh. The only strategies or techniques clearly laid out are shorting and holding cash. The managers will be James D. Brilliant and Stephen W. Shipman of Van Den Berg Management. The minimum initial investment for “R” shares is $1,000. The opening expense ratio will be 1.50%.
Day Hagan Tactical Dividend Fund
Day Hagan Tactical Dividend Fund, I shares, will pursue long-term capital appreciation with the possibility of current income by investing in large-cap, domestic dividend paying stocks. Here’s the twist: they’ll target industries “at or near the top of their respective dividend yield cycle given the inverse relationship between price and yield.” The managers will be Robert Herman, Jeffrey Palmer of Gries Financial, and Donald Hagan of, well, “Donald L. Hagan LLC, also known as Day Hagan Asset Management.” The minimum initial investment is $1,000 for regular and IRA accounts, and $100 for an automatic investment plan account. The opening expense ratio will be 1.35%.
Schroder Global Multi-Asset Income Fund
Schroder Global Multi-Asset Income Fund will pursue income and capital growth over the medium to longer term by investing in a global portfolio high-quality, dividend-paying stocks and fixed income securities which promise sustainable income flows. The managers will be Aymeric Forest and Iain Cunningham, both of Schroder Investment Management NA. They’ve also run reasonably successful separate accounts using this strategy but the track record there (less than two years) is too brief to provide much insight. The minimum initial investment for Advisor shares, which are intended to be sold through third-parties, is $2,500. The minimum for Investor shares, purchased directly from Schroder, is $250,000. (Can you tell they’d prefer you invest through Schwab?) The opening expense ratio has not yet been released.
T. Rowe Price Asia Opportunities Fund
T. Rowe Price Asia Opportunities Fund will pursue long-term growth of capital by investing in mid- to large-cap stocks of firms in, or tied to, China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. The emphasis will be on high-quality, blue chip firms. The fund is registered as non-diversified, though that seems unlikely in practice given T. Rowe’s style. The manager will be Eric C. Moffett, a long-time research analyst based in Hong Kong. The minimum initial investment is $2500, reduced to $1000 for various sorts of tax-advantaged accounts. The opening expense ratio will be 1.15%.