The cost of purchases and proceeds from the sale of securities, other than short-term securities, for the year ended September 30, 2016 were as follows: Distributions are determined in accordance with federal income tax regulations, which differ from GAAP, and, therefore, may differ significantly in amount or character from net investment income and realized gains for financial reporting purposes. Industrial. ALPS Fund Services, Inc. serves as the Funds administrator and accounting agent (the Administrator) and receives customary fees from the Fund for such services. Gabriel Francis Fernandez - Managing Director - LinkedIn For example, the Adviser may, directly or indirectly, receive fees from Client Accounts that are higher than the fee it receives from the Fund, or it may, directly or indirectly, receive a performance-based fee on a Client Account. Standard deviation measures the average deviations of a return series from its mean, and is often used as a measure of volatility/risk. PDF Office of the State Treasurer Summary of Responses to Request for - ct The Funds distribution policy is to make quarterly distributions to shareholders. All requests for information regarding proxy votes, or policies and procedures, received by any Adviser employee, officer, or director should be forwarded to the CCO. Find company research, competitor information, contact details & financial data for Banco Industrial of Plainfield, NJ. Based on an evaluation of the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act), the registrants principal executive officer and principal financial officer have concluded that the registrants disclosure controls and procedures are effective as of a date within 90 days of the filing date of this report. XBRL Voluntary Filing Program Visit the CSA's XBRL websitefor information about XBRL and the voluntary program. The percentage represents a single distribution from the Fund and does not represent the total return of the Fund. Lioni Construction & Maintenance | Bridgewater NJ Clarion Partners (Real Estate - North America) | Asset manager Average borrowings and the average interest rate for the days the BNP line of credit was outstanding during the year ended September30, 2016 were $26,229,249 and 1.54%, respectively. Upload your latest press release or suggest a story idea to our editorial team. The Fund was organized as a statutory trust on November 5, 2013 and under the laws of the State of Delaware. The Funds Public Allocation Sub-Advisor, CenterSquare Investment Management, a BNY Mellon Company, is focused exclusively on real estate and structured to provide attractive investment performance to institutional real estate investors. LION INDUSTRIAL TRUST Top 13F Holdings - whalewisdom.com Dead/Abandoned. We have continued to utilize a low-cost, passive approach to investing in the flagship U.S. core property funds managed by the leading institutional real estate sponsors. If you want to remain at this site, select the DECLINE button. Based on Market value. Such information does not constitute a recommendation to buy or sell specific securities or investment vehicles. The Lion Industrial Trust seeks to own, develop, manage and strategically sell industrial warehouse properties and land in 25 U.S. markets. Youll receive updates on upcoming events, special Dr. Randy Anderson, CIO of the Adviser is the Funds portfolio manager. Global Wealth Conferences - SWFI Event Series. Reports to shareholders and printing fees, Less: Fees waived/expenses reimbursed by adviser (Note 3), Net change in unrealized appreciation on investments, NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS, NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS, Net Increase in Net Assets Resulting from Operations, Net Increase in Net Assets Derived from Beneficial Interest Transactions. 13F filing from LION INDUSTRIAL TRUST, enter your 3. By clicking on I accept, you consent to our Privacy Policy. RSM McGladrey was paid $49,050 in connection with auditing services. Glossary, videos, podcasts, research in the Resource Center. Aggregate Bond Index measures the performance of the U.S. investment grade bond market. The firm currently manages $8.2 billion across a variety of real estate strategies as of December 31, 2015. Errors are noted below: Thanks for reaching out. The partnership should also make it easier for Hillwood to tap additional capital, Mr. Platt said."They are precisely the kind of partner that ING Clarion seeks for a long-term relationship," John Thomas, chief operating officer of Lion Industrial Trust, said in an announcement.ING Clarion manages more than $10 billion in real estate . Portfolio turnover rate for periods less than one full year have not been annualized and is calculated at the Fund level. The Trustees noted that the Funds principal officers are personnel of the Adviser and its affiliates serve the Fund without additional compensation. The Distributor acts as the Funds principal underwriter in a continuous public offering of the Funds shares. Following further discussion of the Funds current and projected asset levels, expectations for growth, and fee levels, the Board determined that the Funds fee arrangements were fair and reasonable in relation to the nature and quality of the services provided by the Adviser and that the Expense Limitation Agreement has provided savings for the benefit of the Funds investors. 230 Park Avenue. HgCapital Renewable Power Partners. Transparency, integrity,communication -- its how we do business. Shareholder servicing fees payable (Note 3), Lines of credit interest payable (Note 6), Investment advisory fees payable (Note 3), Accumulated net realized gain on investments, Net unrealized appreciation on investments, Net asset value, and redemption price per share, Shares of beneficial interest outstanding (unlimited number of shares, no par value common stock authorized), Maximum offering price per share ((NAV/0.9425), based on maximum sales charge of 5.75% of the offering price), Net asset value, offering and redemption price per share. Upload your latest press release or suggest a story idea to our editorial team. Indexes are not actively managed and do not reflect deduction for fees, expenses or taxes. Aggregate Bond Index in each of the since inception, trailing one year, and year to date through May 31, 2016 periods. In considering the costs of the services provided and profits realized by the Adviser and its affiliates from the relationship with the Fund, the Trustees evaluated the Advisers staffing, personnel, and methods of operating; the education and experience of the Advisers personnel; the Advisers compliance programs, policies, and procedures; the financial condition of the Adviser; the level of commitment to the Fund and the Adviser by the principals of the Adviser; the current and projected asset levels of the Fund; and the overall expenses of the Fund, including the nature and frequency of advisory fee payments. All or a portion of a distribution may consist solely of a return of capital (i.e. The Trustees reviewed the balance sheet of the Adviser and discussed the financial stability and profitability of the firm. Clarion management has strong alignment with our investors, with an 18% equity interest in the Firm. Under the Distribution Agreement the Class C shares will pay to the Distributor a Distribution Fee that will accrue at an annual rate equal to 0.75% of the Funds average daily net assets attributable to Class C shares, payable on a quarterly basis. The notice included securities offered of Equity,Pooled Investment Fund Interests Summary 13D/G Insider (Form 4) Form D 14 Elevate your investments Try it for free 2014, Fund Controller, ALPS Fund Services, Inc., 2011, Vice President and Assistant Secretary Since 2015, Vice President and General Counsel Securities, Griffin Capital Corporation, 2014, Vice President and Senior Counsel, ALPS Fund Services, Inc. 2015. There is no guarantee that shareholders will be able to sell all of the shares they desire to sell in a quarterly repurchase offer, although each shareholder will have the right to require the Fund to purchase at least 5% of such shareholders shares in each quarterly repurchase. The Fund invests primarily in big-box warehouse and distribution . Effective February 1, 2016 each Trustee who is not affiliated with the Fund or the Adviser received a quarterly fee of $5,000, as well as reimbursement for any reasonable expenses incurred attending the meetings, and $500 per each special telephonic meeting. The Trustees noted that the Fund outperformed each of its peers in the since inception and year to date through May 31, 2016 periods. The Adviser does not vote proxies regarding securities held by Underlying Funds but rather, may vote on issues regarding the Underlying Funds. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. (Certification provided in Exhibit A.) SWFI is a minority-owned organization. It should not be assumed that any investment will be profitable or will equal the performance of the fund(s) or any securities or any sectors mentioned herein. The Trustees also noted that AHICs fee, combined with the Advisers fee, were similar to the management fees for funds with similar investment strategies. The audit committees pre-approval policies and procedures require that all services to be performed by the registrants principal accountant must be pre-approved by the registrants audit committee. The Barclays Capital U.S. None of the Funds executive officers receives compensation from the Fund. There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Funds Net Asset Value (NAV). Tables present indicative values only. The Fund distribution rate is the amount, expressed as a percentage, a Fund investor would receive in distributions if the most recent Fund distribution stayed consistent going forward. Total returns are for the period indicated and have not been annualized and do not reflect the impact of sales charges. As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrants principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. Portfolio Managers of Closed-End Management Investment Companies. $46,993 of additional Organizational Expenses were recorded subsequent to the May 21, 2014 Seed Audit Financial Statements. Certain Trustees and officers of the Fund are also officers of the Adviser and are not paid by the Fund for serving in such capacities. For the year ended September 30, 2016, Class A and C shares incurred shareholder servicing fees of $783,216 and $358,645, respectively. Reported distributions from net investment income and realized gains on investments are not an indication as to whether or not the Funds distributions are supported by the Funds returns. The NFI-ODCE, short for National Council of Real Estate Investment Fiduciaries (NCREIF) Fund Index - Open End Diversified Core Equity, is the first of the NCREIF Fund Database products and is an index of investment returns reporting on both a historical and current basis the results of 24 open-end commingled funds pursuing a core investment strategy, some of which have performance histories dating back to the 1970s. Prior to joining Scannell, Kris was a senior vice president at Clarion Partners, where he facilitated the growth of Lion Industrial Trust, a $30 billion industrial-focused, private REIT, through acquisition, disposition and development transactions throughout the United States. 4. The Fund engages in a continuous offering of shares and operates as an interval fund that offers quarterly repurchases of shares at net asset value. Constructed between 2001 and 2005, the portfolio [] Lion Electric - HK Truck Center Total returns would have been lower had certain expenses not been waived during the period. The pension fund has slated $85 million of funds each for Carlyle Property Investors Fund, managed by Carlyle Group; Clarion Lion Industrial Trust, managed by Clarion Partners; and Principal Enhanced Property Fund, managed by Principal Global Investors. These inputs are categorized in the following hierarchy under applicable financial accounting standards: Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Fund has the ability to access at the measurement date; Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability at the measurement date; and. Such fees, expenses, and commissions could reduce returns. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. For the year ended September 30, 2016, the Distributor received $1,550,339 in underwriting commissions for sales of the Funds Class A shares, of which $0 was retained by the principal underwriter or other affiliated broker-dealers. The Fund commenced operations on June 30, 2014, and isauthorized to issue an unlimited number of shares with no par value. The Griffin Institutional Access Real Estate Fund (the Fund) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a non-diversified, closed-end management investment company. Return of capital is a tax concept, not an economic concept. Demand continues to outstrip supply, which has helped keep vacancy rates below their long-term averages and prompt favorable conditions for landlords to increase rents for most asset types. The voting rights of the Clients, as holders of interests in Underlying Funds, are generally contract rights set out in the organizational documents (e.g., the limited partnership agreement, limited liability company agreement, memorandum and articles of association of the Underlying Funds). Fully integrated OEM electric trucks (chassis, cabin & batteries) During the year ended September 30, 2016, the Fund incurred $435,329 of interest expense related to the BNP borrowings. Past performance is not a guarantee of future results. The CCO will designate another Portfolio Manager the responsibility to form a proxy voting recommendation and serve as the original Portfolio Manager would have done in the proxy voting process. Because in the context of Underlying Funds each solicited vote raises unique questions, each Proxy with respect to an Underlying Funds will be analyzed by the Portfolio Manager, and in turn the President and the Investment Committee, on a case-by-case basis. Clarion Lion Industrial Trust (the "Fund") is a private REIT focused on the industrial property sector in North America. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Calculated using the average shares method. The registrant has not adopted procedures by which shareholders may recommend nominees to the registrants Board of Trustees. The Oklahoma Municipal Retirement Fund (OkMRF) has approved a $30 million commitment to the open-end, value-add real estate Clarion Lion Industrial Trust fund. The memorandum provided information about the Advisers finances, personnel, services to the Fund, investment advice, fees, and compliance program. These financial statements and financial highlights are the responsibility of the Funds management. Aggregate Bond Index, Griffin Institutional Access Real Estate Fund C Without Load, Griffin Institutional Access Real Estate Fund C With Load**, Griffin Institutional Access Real Estate Fund I NAV. * Additional Information on Investments in Private Investment Funds: Written notice required for redemption, no minimum timeline required. Prior to February 1, 2016 each Trustee who is not affiliated with the Fund or the Adviser received a quarterly fee of $2,500, as well as reimbursement for any reasonable expenses incurred attending the meetings, and $500 per each special telephonic meeting. The Funds most recent quarterly distribution payment (September 2016) represented an annualized 5.22% rate. The Trustees noted the Funds strong performance over the since inception, trailing one year, and year to date through May 31, 2016 periods. New York-based Clarion, a subsidiary of ING Real Estate,. Index performance does not represent actual Fund or portfolio performance. Safe, high-performance lithium-ion Batteries (NMC) eMotor Power: Up to 350 kW and 3,500 Nm torque. We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. The Trustees noted that the Fund commenced operations on June 30, 2014, and continued to gather assets. The Distributor serves as principal underwriter of shares of the Fund. Private real estate fund dry powder is still above long-term averages as investors seek high quality, income-producing assets. publication offers and more. *Including accumulated net investment loss of: The Fund's Class C shares commenced operations on August 10, 2015. Connecticut Retirement Plans and Trust Funds, Youre viewing 5 of 45 limited partners. Status Refresh. The Adviser has adopted procedures to implement the firms proxy voting policy and to monitor and ensure its policy is observed and amended or updated, as appropriate, which include the following: In the event Adviser employees, officers, or directors receive proxy materials on behalf of a Client, the employees, officers and directors will forward such materials to the appropriate Portfolio Manager; Such Portfolio Manager will determine which Client(s) hold the interest in an Underlying Fund to which the Proxy relates; The Portfolio Manager will (absent material conflicts of interest as described below in Material Conflicts of Interest) analyze the proxy materials and make a written recommendation to the voting members of the Investment Committee as to how to vote each Proxy.
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