Quick Note
Hello Partners,
The Fund Admin will have your September statements out shortly and I’ll release our Q3 update on our usual timing. However, given the increased market volatility, I thought to send a quick update on the draft performance numbers.
The Fund continues to yield in the 7-9% income range and outperform its index. Our YTD performance through 9.30.22 was -19% vs our REIT index of -29%.
Given the Fed’s resolve to break inflation, we are still playing more defensive than usual (to the extent possible while generating income). As detailed in my Q2 update, we remain overweight sectors that have demonstrated rent stability + growth during recessionary periods.
I’ll share additional market / portfolio color in my Q3 update later this month.
Thank you,
Brad Johnson