In sum, he chooses companies he thinks are best in class and will grow faster than rivals. They should also have quality balance sheets and management teams that are “excellent allocators” of capital. The companies in his portfolio must get the bulk of their revenue from either commercial or residential real estate. But we don’t limit our real estate investments just to REITs.” We research, analyze and invest in REITs, and we’re quite optimistic about the prospects of REITs this year. “The product I manage is not a REIT fund. “We advocate a broader and more balanced and comprehensive approach to real estate investing than many of our peers,” says Kolitch, who has managed the Baron fund for nearly 12 years. But they are part of his fund, and he says such companies help differentiate his product from competitors and have helped fuel the fund’s best-in-category returns over the three-, five- and 10-year periods. According to Jeffrey Kolitch, portfolio manager of the Baron Real Estate Fund, these aren’t the kind of holdings found in traditional real estate funds that typically focus on real estate investment trusts. A casino operator that caters to locals on the outskirts of Las Vegas, rather than tourists on the city’s famed Strip. ![]() ![]() A maker of outdoor, non-wood building products for homes.
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