Versus Capital Introduces Direct Real Estate in a Mutual Fund

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Daily NAV, Quarterly Liquidity, No Upfront Sales-Load, Low Minimum, No K-1s, and 1099 Reporting; Create Simplified Access to Direct Real Estate Funds, Previously Reserved for Institutions, Pension Funds & Endowments. 

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Today, Versus Capital Advisors LLC (“Versus Capital”) launched the VERSUS CAPITAL MULTI-MANAGER REAL ESTATE INCOME FUND (the “Fund”), a mutual fund providing access to the direct real estate asset class.

The Fund will utilize a multi-manager structure and intends to invest with a number of institutional investment managers that were screened and approved by Versus Capital and its “Sub-Adviser”, Callan Associates Inc ("Callan"). Until now, these managers and their private real estate funds were available to institutional investors that met investment minimums, many of $5 million or more. With daily net asset values, quarterly liquidity, no upfront sales load and no K-1s, Versus Capital’s Fund provides individual investors with transparent access to direct real estate.

“We believe that owning direct real estate is a crucial part of a well-diversified portfolio and that individual investors deserve access to the best managers in an investor friendly structure,” said Mark Quam, CEO of Versus Capital. “We developed the Fund to give investors direct access to core real estate funds sponsored by our approved institutional managers. Equally important was registering the fund under the Investment Company Act of 1940, adding transparency, increasing liquidity and lowering the costs typically associated with direct real estate investments.”

Approved Institutional Managers in the Versus Capital Multi-Manager Real Estate Income Fund:

• AEW Capital Management (and affiliates)
• JP Morgan Asset Management, Global Real Assets
• UBS Global Asset Management, Global Real Estate
• Heitman
• Invesco Real Estate
• Cornerstone Real Estate Advisers
• DEXUS Property Group
• Security Capital Research and Management
• European Investors Incorporated
• Forum Securities Limited (and affiliates)

* The list of approved managers and the allocation of Fund assets among managers may change at any time.

The Fund is designed to serve as a core real estate holding, focused primarily on income producing core and core plus direct real estate funds. The Fund’s primary investment objective is to seek consistent current income, while the Fund’s secondary objectives are capital preservation and long-term capital appreciation. An investment in the Fund involves risk. An investment in the Fund is suitable only for investors who can bear the risks associated with limited liquidity (see below).

The Fund’s investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the Fund. Please read the prospectus carefully before investing or sending money. To obtain a prospectus, contact your financial professional or visit our website at www.versuscapital.com.

BNY Mellon Distributors Inc. is the Fund’s Distributor and Advisors Asset Management is the Sub-Distributor. Fund shares are not FDIC insured, not bank guaranteed and may lose value.

Liquidity

The Fund is a continuously offered, closed‐end investment company, registered under the Investment Company Act of 1940, as amended. The Fund’s Shares are not publicly traded, there is currently no secondary market for the Shares and the Fund expects that no secondary market will develop. Shares are subject to substantial restrictions on transferability and may only be transferred or resold in accordance with the Fund's LLC Agreement and Repurchase Policy. Limited liquidity is provided to shareholders only through the Fund’s quarterly Repurchase Offers for no less than 5% of the shares outstanding on the Repurchase Request Deadline. There is no guarantee that shareholders will be able to sell all of the Shares they desire in a quarterly Repurchase Offer. In certain instances, such Repurchase Offer may be suspended or postponed.

Expenses

The Fund does not have an upfront or backend sales charge. However, the Fund does pay an ongoing fee for distribution. Additionally, a shareholder who tenders shares for repurchase within the first year following the shareholder’s initial capital contribution will be subject to an Early Withdrawal Charge of 2.00% of the value of the shares repurchased by the Fund. Like all mutual funds, the Fund has ongoing operating expenses. As a consequence of its multi‐manager structure, an investor in the Fund will bear not only his or her proportionate share of expenses of the Fund itself but also indirectly the expenses associated with using underlying investment funds and underlying sub‐advisers.

Risks

An investment in the Fund involves risk. You may lose money or your entire investment in the Fund. An investment in the Fund is suitable only for investors who can bear the risks associated with the limited liquidity of the Shares and should be viewed as a long-term investment. However, the Fund may be right for you if you are a long‐term investor seeking to diversify your portfolio by pursuing the income and growth potential of real estate. The Fund is intended for investors who are aware of the special risks of real estate, including declines in land values and defaults by tenants and borrowers. Returns from foreign real estate may be reduced by currency fluctuations. The Fund is new, with no significant operating history by which to evaluate its potential performance. There can be no assurance that the Fund’s multi‐manager strategy will be successful. The Fund is classified as “non‐diversified” under the Investment Company Act of 1940, since changes in the financial condition or market value of a single issuer may cause a relatively greater fluctuation in the Fund’s net asset value than in a “diversified” fund.

About Versus Capital Advisors LLC

Versus Capital Advisors LLC, is an investment adviser registered under the Investment Advisers Act of 1940, exclusively focused on building and managing multi-manager real estate and alternative investment platforms that seek to have an income oriented return focus and low correlation to the broader stock and bond markets. Versus Capital builds these platforms to give individual investors access to institutional managers once reserved for foundations, endowments, pensions and other institutions. For more information, please visit www.versuscapital.com.

About Callan Associates Inc.

Founded in 1973, Callan is one of the largest independently-owned investment consulting firms in the country. Headquartered in San Francisco, California, the firm provides research, education, decision support and advice to a broad array of institutional investors through four distinct lines of business: Fund Sponsor Consulting, Independent Adviser Group, Institutional Consulting Group, and the Trust Advisory Group. Callan employs more than 155 people and maintains four regional offices located in Denver, Chicago, Atlanta and Florham Park, NJ. For more information, visit www.callan.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50087489&lang=en

Versus CapitalCrystal Daniels, 1-877-343-7916[email protected]www.versuscapital.com

Source: Versus Capital Advisors LLC

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