TORONTO, Aug. 9, 2022 /CNW/ – Evolve Funds Group Inc. (“Evolve” or “the Manager“) is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for the Evolve Slate Global Real Estate Enhanced Yield Fund (“BILT“). Evolve has retained Slate Securities L.P. (“Slate Securities”), an investment management business of Slate Asset Management (“Slate”), as the sub-advisor for BILT. BILT is designed to provide investors with enhanced yield from an actively managed portfolio of publicly listed real estate securities.
“We are pleased to be working with Slate, a leader in the real estate market with a proven track record of creating value for partners and investors,” says Raj Lala, President and CEO at Evolve. “We believe long-term growth and the fundamentals for real estate securities remain strong. BILT provides investors with a compelling entry point into the real estate market through enhanced yield and the expertise of Slate’s portfolio management team.”
The investment objective of BILT is to provide a recurring income level consistent with the underlying rental income derived from properties owned by publicly listed real estate issuers. BILT targets a yield return in excess of the yield return of the FTSE EPRA/NAREIT Developed Index (the “Real Estate Index”). BILT aims to achieve a level of volatility which is lower than the volatility of the FTSE EPRA/NAREIT Developed Index measured by using the standard deviation of returns. The expected return will be derived from the yield return but also from capital appreciation and potentially other yield enhancing strategies.
Slate Securities will actively manage the portfolio through an identified universe of about 2,000 issuers on a global basis that fall within its definition of real estate securities. The universe is reassessed and may vary over time as issuers and business models evolve. Slate Securities believes that option writing may have the potential to add value and is an effective way to help lower the level of volatility for an investor and potentially improve returns.
Slate Securities is an investment management platform specializing in real estate investing, across the public and private real estate markets. As a wholly owned subsidiary of Slate Asset Management, a global investment and asset management platform focused on real assets, Slate Securities benefits from deep expertise, insights and Slate investment opportunities. Slate Securities was founded with the objective of being the real estate solution for allocators.
“By adding the experienced team at Presima to the Slate platform, we have significantly scaled our public market investing capabilities, enabling us to bring a broader range of real estate investment solutions and even deeper expertise to the investment community,” says Fraser McEwen, Partner at Slate Securities. “We are pleased to be leveraging our team’s collective experience and partnering with Evolve to launch BILT at a time when real estate securities can offer a compelling entry point.”
BILT will offer unhedged Canadian dollar denominated ETF units (“Unhedged ETF Units“) and Canadian dollar denominated hedged ETF units (“Hedged ETF Units“).
With $2.4 billion in assets under management, Evolve is one of Canada’s fastest growing ETF providers since launching its first ETF in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing innovative ETFs to Canadian investors. Evolve’s suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world’s leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
Slate Securities is an investment management platform specializing in real estate investing, across the public and private markets. We invest across the real estate spectrum, taking a long-term view of portfolio construction and focusing on fundamentals to meet the goals and objectives of our clients. As a wholly-owned subsidiary of Slate Asset Management, a global real asset investor and manager, Slate Securities benefits from deep expertise, insights and Slate investment opportunities. Visit slatesecurities.com to learn more.
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
A preliminary prospectus containing important information relating to securities of the ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Commissions, management fees, expenses and applicable sales taxes all may be associated with an investment in the exchange traded funds managed by Evolve Funds Group Inc. (the “ETFs”). ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
No securities regulatory authority has approved the contents of this news release. Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
BILT’s securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, in the United States, except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or solicitation of an offer to buy any of these securities in any jurisdiction in which the offering or sale is not permitted.