clarion partners lion industrial trust

The memorandum provided information about the Advisers finances, personnel, services to the Fund, investment advice, fees, and compliance program. Class C shares may be subject to a 1.00% contingent deferred sales charge on shares redeemed during the first 365 days after their purchase. (Certification provided in Exhibit A.) Because most, if not all, of the Underlying Funds are privately placed, they generally do not issue proxies. Upload your latest press release or suggest a story idea to our editorial team. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Previously, Mr. Propper was a Director at Lakemont Group, a boutique real estate investment banking and consulting firm. These financial statements and financial highlights are the responsibility of the Funds management. Find nearby businesses, restaurants and hotels. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses for the period. The sale of securities could reduce the market price of those securities, which in turn would reduce the Funds net asset value. Our research focus is local and global, property-specific and big picture, next year and next decade. The Trustees noted that CenterSquare assists the Adviser in seeking to achieve the Funds investment objective to generate a balanced return comprised of current income and capital appreciation with moderate volatility and low correlation to the broader markets by pursuing strategically investing across private institutional real estate investment funds as well as a diversified set of public real estate securities. It is calculated by annualizing the most recent Fund distribution yield. After reviewing CenterSquares and the Funds performance, and other factors, the Board concluded that the investment performance of CenterSquare was satisfactory. Lion Industrial Trust (ING Clarion) Manager Login. Recognition of net investment income is affected by the timing and declaration of dividends by the underlying investment companies in which the Fund invests. Pursuant to the Investment Advisory Agreement with the Fund (Advisory Agreement), the Adviser is entitled to an investment advisory fee, computed daily and payable monthly of 1.50% of the average daily net assets of the Fund. 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. As of September 30, 2016, the Fund had $65,000,000 of outstanding borrowings relating to BNP. Sign up here. Following further consideration and discussionof the foregoing, the Board concluded that the fees to be paid to CenterSquare by the Fund were fair and reasonable in relation to the nature and quality of the services provided by CenterSquare and that they reflected charges that were within a range of what could have been negotiated at arms length. The Adviser has sole discretion to vote proxies on behalf of the Non-discretionary Clients provided that, in each case, implementation of the outcome of the proxy vote would not cause the Non-discretionary Clients portfolio to be out of compliance with its Investment Guidelines. The Trustees noted that the Fund commenced operations on June 30, 2014, and continued to gather assets. During the year ended September 30, 2016, the Fund incurred $435,329 of interest expense related to the BNP borrowings. Dead/Abandoned. There is no guarantee that shareholders will be able to sell all of the shares they desire in a quarterly repurchase offer. Unrated. By investing in the Fund, a shareholder will not be deemed to be an investor in any underlying fund and will not have the ability to exercise any rights attributable to an investor in any such underlying fund related to their investment. Research: OneLook Acronym Finder; 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. Investment Strategy Geography; Real Estate; USA; . It also contained information on Fund expenses, including comparative expense ratio information for other investment companies with strategies similar to the Fund. ABANDONED-FAILURE TO RESPOND OR LATE RESPONSE. Additionally, the chairperson of the Audit Committee shall be entitled to an additional retainer of $10,000 per year. The performance data quoted above represents past performance. If the outcome that might result from a proxy solicitation could cause any Non- discretionary Client to fall out of compliance with its Investment Guidelines, the Adviser shall consult each such Non-discretionary Client prior to voting the proxy and shall take direction from such Non-discretionary Client, in the form of a completed Exhibit B, as to how to vote the proxy. As previously stated, we remain focused on net operating income (NOI) growth. Fair valuation procedures may be used to value a substantial portion of the assets of the Fund. The Lion8 is an all-electric urban truck, which combines power, comfort and modern technology. The Funds income, expenses (other than class specific distribution fees) and realized and unrealized gains and losses are allocated proportionately each day based upon the relative net assets of each class. United States. Standard deviation measures the average deviations of a return series from its mean, and is often used as a measure of volatility/risk. ORGANISATIONAL UPDATES On July 31, 2020, Franklin Resources, Inc. acquired Legg Mason, Inc. and its specialist investment managers for $6.5 . Class C shares may be subject to a 1.00% contingent deferred sales charge on shares redeemed during the first 365 days after their purchase. All returns reflect reinvested dividends, but do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. For the year ended September 30, 2016, Class C shares incurred distribution fees of $1,075,934. A fund or portfolio may differ significantly from the securities included in the index. Connecticut Retirement Plans and Trust Funds, Youre viewing 5 of 45 limited partners. Non-cash financing activities not included herein consist of reinvestment of distributions of: Cash paid for interest on lines of credit during the year was: Griffin Institutional Access Real Estate Fund Class A, Ratios to Average Net Assets (including interest expense), Ratio of expenses to average net assets excluding fee waivers and reimbursements, Ratio of expenses to average net assets including fee waivers and reimbursements, Ratio of net investment income to average net assets, Ratios to Average Net Assets (excluding interest expense), Ratio of net investment income to average net assets excluding fee waivers and reimbursements. See the parent company profile. Spencer Propper Mr. Propper serves as Vice President of Griffin Capital Advisor, LLC and Associate Portfolio Manager of Griffin Institutional Access Real Estate Fund. Past performance does not guarantee future results. Trustees Consideration and Approval of Continuation of Sub-Advisory Agreement with AHIC. Item 4. No services described in paragraphs (b) through (d) of Item 4 of this report were approved by the registrants audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. We'd love to hear from you. Mr. Cohen is independent as defined in paragraph (a)(2) of Item 3 to Form N-CSR. During the period covered by this report, the registrant had not granted any express or implicit waivers from the provisions of the code of ethics adopted in Item 2(a) of this report. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliates Purchasers. Clarion Lion Industrial Trust, managed by Clarion Partners, seeks to own, develop, manage and strategically sell industrial warehouse properties and land in 25 U.S. markets. The Fund was organized as a statutory trust on November 5, 2013 and under the laws of the State of Delaware. Index performance assumes reinvestment of dividends but does not reflect any management fees, transaction costs or other expenses that would be incurred by a fund or portfolio, or brokerage commissions on transactions in fund shares. Clarion Lion Industrial Trust is an open-end vehicle, managed by Clarion Partners. Portfolio turnover rate for periods less than one full year have not been annualized and is calculated at the Fund level. The S&P 500 is an index based on market cap of the 500 largest companies having stock listed on the NYSE or NASDAQ. Sign-up Clarion Lion Properties Fund, L.P. is one of the larger private funds with 10 billion in assets. Property Flyers. Registrants Financial Officer Code of Ethics is filed herewith as Exhibit 12(a)(1). The Trustees determined that the management fee and net expense ratio were higher than some, but not all, of the comparable funds and the peer group averages. 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. You cannot invest directly in an index. Redemption price per share may be reduced for any applicable contingent deferred sales charge. Clarion Lion Industrial Trust is a real estate core fund managed by Clarion Partners. 4. PURCHASES AND SALES OF INVESTMENT SECURITIES. As of the end of last year, real estate accounted for 6.3% of ACERA's total 6.3% of the pension fund's total portfolio. Griffin Institutional Access Real Estate Fund A Without Load, Griffin Institutional Access Real Estate Fund A With Load*, Barclays Capital U.S. Performance may be lower or higher than performance data quoted. Based upon all of the foregoing considerations, the Board of Trustees, including a majority of the Independent Trustees, approved the continuation of the Investment Sub-Advisory Agreement with CenterSquare. Following further consideration and discussion of the foregoing, the Board concluded that the fees to be paid to AHIC by the Fund were fair and reasonable in relation to the nature and quality of the services provided by AHIC and that they reflected charges that were within a range of what could have been negotiated at arms length. Absent material conflicts, the President of the Adviser, in consultation with the Investment Committee, will determine how the Adviser should vote the Proxy in accordance with applicable voting guidelines (see below), taking into account the recommendation of the Portfolio Manager. NYSCRF said it has made a $300m commitment to Lion Industrial Trust, an open-ended core-plus industrial fund managed by Clarion Partners, and invested $70.1m through a separate account with Heitman to buy the 539,094sqft Rickenbacker West Logistics Center in Lockbourne, Ohio. As of September 30, 2016, net unrealized appreciation/(depreciation) of investments based on the federal tax cost was as follows: Gross Appreciation (excess of value over tax cost), Gross Depreciation (excess of tax cost over value), Cost of Investments for Income Tax Purposes. Because the Portfolio Manager and the Associate Portfolio Manager may manage assets for other pooled investment vehicles and/or other accounts (including institutional clients, pension plans and certain high net worth individuals) (collectively Client Accounts), or may be affiliated with such Client Accounts, there may be an incentive to favor one Client Account over another, resulting in conflicts of interest. For more information about certain of the material risks and limitations associated with Clarion Partners investment advisory products, strategies and services, please see Clarions current Form ADV Part 2A brochure, which is available on the SECs Investment Adviser Public Disclosure website at https://adviserinfo.sec.gov/firm/summary/108803. Upload your latest press release or suggest a story idea to our editorial team. If the Funds NAV has increased, the Fund will have economically earned more than it has distributed, regardless of whether such distributions are reported as being from net investment income, net realized gains on investments or return of capital. Total returns would have been lower had certain expenses not been waived during the period. After reviewing the foregoing information and further information in the memorandum from CenterSquare (e.g., CenterSquares Form ADV and descriptions of the Advisors business and compliance program), the Board concluded that the nature, extent, and quality of the services to be provided by CenterSquare were satisfactory and adequate for the Fund. The 10-year loan will be used to retire the existing debt on a seven-property, five-million-square-foot industrial portfolio that includes two assets in San Bernardino, California; four in Dallas, Texas; and one in Southaven, Mississippi. Management has determined that there were no other subsequent events to report through the issuance of these financial statements. 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. How do I update this listing? The largest outstanding borrowing during the year ended September 30, 2016 relating to Credit Suisse was $149,500,000. 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 . During the year ended September 30, 2016, the Fund completed four quarterly repurchase offers. At a meeting of the Funds Board of Trustees on June 21, 2016 the Trustees approved the continuation of the Investment Advisory Agreement for a one-year term. Sign up to receive emails from IREI. Allocation, Sector, and Geographic Diversification are subject to change. Interest rate shocks increased volatility for yield sensitive securities, including publicly traded real estate, higher than that of the S&P 500 throughout the year (10/1/15 9/30/16 MSCI U.S. REIT Index (RMZ) standard deviation: 19.93% vs S&P 500 standard deviation of 17.36%). In considering AHICs practices regarding conflicts of interest, the Trustees evaluated the potential for conflicts of interest and considered such matters as the experience and ability of the advisory personnel assigned to the Fund; the basis of decisions to buy or sell securities for the Fund and AHICs other accounts; the method for bunching of portfolio securities transactions; and the substance and administration of AHICs code of ethics. Along with his or her recommendation, the Portfolio Manager will provide a written certification, provided in Exhibit A to this policy, that he is not subject to conflicts of interest regarding the Underlying Fund or the subject of the Proxy. The fund seeks to own, develop, manage and strategically sell industrial warehouse properties and land in 25 U.S. markets. ILC is a joint venture between Taylor & Mathis and Lion Industrial Trust, a private REIT managed by Clarion Partners. Owning18% of the Firm, management prioritizes alignmentwith our investors interests. Walker Wellford. Griffin Institutional Access Real Estate Fund Class C, Net increase/(decrease) in net asset value, Griffin Institutional Access Real Estate Fund Class I. If a material conflict of interest exists for the Portfolio Manager that normally would have formulated the proxy voting recommendation for the Underlying Fund, such Portfolio Manager should disclose the conflict to the CCO. 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. Clarion Lion Properties Fund Native Currency USD Fund Manager's Location 230 Park Avenue New York, NY 10169 United States +1 (212) 000-0000 Fund Domiciles United States: Delaware Clarion Lion Properties Fund Investment Strategy Investments by Industry Investments by Deal Type Want detailed data on 3M+ companies? CenterSquares team of REIT experts has been a trusted advisor to endowments, pension plans and corporate clients. We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. The Funds distribution policy is to make quarterly distributions to shareholders. In consideration of the Advisers agreement to limit the Funds expenses, the Fund has agreed to repay the Adviser in the amount of any fees waived and Fund expenses paid or absorbed, subject to the limitations that: (1) the reimbursement for fees andexpenses will be made only if payable not more than three years from the end of the fiscal year in which they were incurred; and (2) the reimbursement may not be made if it would cause the Expense Limitations to be exceeded. Sovereign Wealth Fund Institute and SWFI are registered trademarks of the Sovereign Wealth Fund Institute. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. 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. For the year ended September 30, 2016, the Fund did not have unobservable inputs (Level 3) used in determining fair value. Class A and Class I shares are not currently subject to a Distribution Fee. O: 678-819-2460 C: 404-966-2400 wwellford@taylormathis.com. Although we have verified the accuracy of this link from our website to a third party website, the content of the web pages may change without notice. Clarion Lion Industrial Trust General Information. 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. Official MapQuest website, find driving directions, maps, live traffic updates and road conditions. Each class represents an interest in the same assets of the Fund and classes are identical except for differences in their sales charge structures and ongoing service and distribution charges. Fund performance current to the most recent month-end is available by calling 1-888-926-2688 or by visiting www.griffincapital.com. LION INDUSTRIAL TRUST Clarion Partners, LLC. 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. Item 3. After further review and discussion, the Board determined that CenterSquares practices regarding brokerage and portfolio transactions were satisfactory. The term of office for each Trustee and officer listed above will continue indefinitely. All Clarion Partners LLC and Clarion Partners Europe statistics, data and charts, including but not limited to assets under management (AUM), ESG data, sector data and property data, as well as data related to our investors, tenants and employees, are as of 12/31/2022 unless otherwise noted.

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