Bailard Real Estate Fund announces its acceptance into the NFI-ODCE index of NCREIF

SAN FRANCISCO – (BUSINESS WIRE) – Bailard, Inc. today announced that the Bailard Real Estate Fund (the “Fund”) was added to the Open-end Diversified Core Equity (NFI-ODCE) index of the National Council of Real Estate Investment Trustees (NCREIF) as of March 31, 2021. Bailard’s Fund joins the NFI-ODCE 27e active fund.

The Fund’s Accounting Director, Dipika Shull, CPA, noted that Bailard started comparing his Fund to NFI-ODCE in 2015 and, “It is only fair to be part of the organization we are comparing ourselves to. . By joining the Index, we have consolidated our Fund’s position as a core real estate investment option for a range of institutional and sophisticated investors. ”

The Bailard Real Estate Fund was launched in 1990 and served as an innovative and early-stage offering for private equity institutional real estate. As at March 31, 2021, the Fund had a gross market value of over $ 1.1 billion. The investment strategy of the Bailard Real Estate Fund focuses on opportunities to acquire added value while adhering to a diversified core portfolio construction approach, with the aim of providing attractive risk-adjusted returns in high-risk environments. varied market. The Fund seeks to outperform the NFI-ODCE (EW) index – a target that has been met for 25 of the 26 quarters since Bailard began benchmarking against the index. *

Preston Sargent, President and CEO of the Fund, noted that broadening, deepening and diversifying the Fund’s investor base has been an important initiative for the real estate team. Sargent said, “Joining the NFI-ODCE is an important recognition of Bailard’s intention to compete on a bigger stage.” In addition, he added, “Getting in touch with sponsors of renowned private equity real estate funds is a privilege and will be an additional motivation to sharpen our skills, focus and stay on our game.”

About the Bailard Real Estate Fund

The Fund is an actively managed, diversified and open core equity real estate vehicle with a strategy of sustaining and growing a portfolio of high quality assets diversified across property types, major metropolitan areas and life cycles. investments. As at March 31, 2021, the gross net asset value of the Fund was $ 1.1 billion, invested in 31 properties in 18 US markets. An investor in the Bailard Real Estate Fund must be an “accredited investor” as defined in Rule D and provide documentation certifying the status requested by the Fund.

About the NFI-ODCE

The NFI-ODCE is a capitalization-weighted, net-fee, time-weighted performance index with a inception date of December 31, 1977. As of March 31, 2021, the NFI-ODCE consisted of 27 funds, totaling $ 212 billion real estate. Open funds are generally defined as infinite life vehicles made up of multiple investors who have the ability to enter or exit the fund on a periodic basis, subject to contribution and / or redemption requests, thus providing a certain degree of potential investment liquidity. The term “core diversified equity style” generally reflects low risk investment strategies using low leverage and typically represented by equity holdings in stable US operating properties diversified by region and type of investment. properties. For more information on the Index, please visit https://www.ncreif.org/data-products/funds/.

* Important disclosures

Bailard, Inc. (“Bailard”) is the investment and operations manager of Bailard Real Estate Investment Trust, Inc. (the “Bailard Real Estate Fund” or the “Fund”). The Bailard Real Estate Fund started to compare to the NFI-ODCE from 03/31/2015. For the period ending 03/31/2021, the Fund outperformed the 25 Index by 26 quarters on a gross and net basis. The full performance history of the Fund is available on request.

The underlying performance results of the Fund are calculated using the National Council of Real Estate Investment Trustees (NCREIF) methodology and reflect the impact of leverage, interest and dividend income from investments. Short-term cash investments and listed real estate investments, if applicable. . Capital expenditures, leasehold improvements and rental commissions are capitalized and included in the cost of the property; are not amortized; and are reconciled as part of the appraisal process and reflected in the appraisal performance component. Performance results do not reflect expenses at the Fund level, such as auditing, taxes, legal fees, operational management fees and accounting fees. Return on Fund Income is not income distributed to the investor, and Return on Income is shown before expenses and before Fund expenses. NCREIF’s gross return methodology is as follows: Total gross return is equal to net investment income plus appreciation divided by weighted average equity. With respect to income and appreciation, the NCREIF method for return on net income is equal to net investment income divided by weighted average equity, and return on net appreciation is equal to appreciation divided through weighted average equity. Performance results are calculated on an asset-weighted average basis using start-of-period values ​​adjusted for time-weighted external cash flows. All properties have been subject to a quarterly appraisal since the third quarter of 2009. The Board of Directors of the Fund determines property values ​​based on input from independent appraisers and all levels of management of the Fund. Securities, derivatives and investments in cash and cash equivalents held by the buildings and the Fund are marked-to-market on each valuation date. The fund’s inception date is April 20, 1990. The NCREIF – Open End Diversified Core Equity (NFI-ODCE) Fund Index is a fund-level time-weighted return index that reports the returns of various blended funds. open pursuing a basic private real. real estate investment strategy and eligibility for inclusion in the NFI-ODCE based on certain pre-defined index policy inclusion characteristics. Historical data is available from 1978. Like the Fund, NFI-ODCE returns reflect the leverage and impact of cash holdings and joint ventures (i.e. returns reflect actual asset ownership positions and funding strategy of each contributing fund). The use of leverage varies depending on the funds included in the NFI-ODCE. The NFI-ODCE is neither managed nor investable. Past performance is no guarantee of future results. All investments carry a risk of loss.

Bailard receives annual fees from the Fund, which are based on the net asset value. The Fund invests primarily in real estate and, therefore, an investment in the Fund involves significant risks which are usually associated with the development and ownership of income producing real estate, including illiquidity, changes in the supply and demand and inaccurate valuation. Shares of the Fund fluctuate in value and may be illiquid due to lack of redemption, lack of secondary market and transfer restrictions. The fees and expenses can offset the return on investment. The Fund can be leveraged. Projections are based on assumptions that Bailard deems reasonable under the circumstances, are subject to uncertainties, changes (for example, changes in public health, economic, operational, political, legal, fiscal and other circumstances) and other risks, including, but not limited to, future operating results, including rents, occupancy and other real estate cash flows, and other expenses. Investors can lose all or a substantial part of their investment. For a more in-depth discussion of the costs and risks of investing in the Fund, please refer to its offering memorandum.

About Bailard, Inc.

With 50 years of experience, Bailard is proudly a trusted partner focused on achieving long term results aligned with client goals. An independent firm since its creation in 1969, Bailard is attached to its values ​​and, above all, to its clients. With $ 5 billion in assets under management as of March 31, 2021, Bailard’s high-end customer service and proven track record are rooted in the firm’s core values ​​of Responsibility, Compassion, Courage, excellence, fairness and independence.

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