TORONTO, Dec. 06, 2019 (GLOBE NEWSWIRE) -- Timbercreek Investment Management Inc. (“Timbercreek”), the manager of Timbercreek Global Real Estate Income Fund (the “Fund”) today announced management fee reductions to be effective January 1, 2020 for certain series of units of the Fund. Also, effective January 1, 2020, Series F90 and F90T6.5 will be renamed Series F85 and F85T6.5, respectively.
“We made the decision to reduce management fees to ensure investors have access to a globally diversified real estate fund that is competitively priced,” said Corrado Russo, Senior Managing Director, Investments & Global Head of Securities of Timbercreek. “We seek input from investors and continually assess the market to ensure our investment products are meeting investor needs,” continued Russo.
Management Fee Reductions and Series Renaming
Effective January 1, 2020, Timbercreek will reduce the management fee on certain series of units of the Fund, and rename certain series, as follows:
|Series of the Fund||Current Management Fee||New Management Fee effective January 1, 2020|
|Series F90 (to be renamed Series F85 effective January 1, 2020)||0.90%||0.85%|
|Series F90T6.5 (to be renamed Series F85T6.5 effective January 1, 2020)||0.90%||0.85%|
About the Fund
The Fund invests in a diversified portfolio of dividend-paying real estate securities in developed markets around the world. The Fund invests in the common equity, preferred equity and debt securities issued by real estate investment trusts (REITs) and other real estate investment issuers. The Fund's objectives are to provide unitholders with monthly distributions and to preserve capital while providing the opportunity for long-term capital appreciation.
For more information about the Fund and Timbercreek, please visit our website at www.timbercreek.com.
Timbercreek Investment Management Inc.
Senior Vice President, Global Distribution & Portfolio Specialist
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