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Middlefield Global Real Asset Fund

Fund Description

The Fund1 is focused on attractive global real estate and infrastructure assets in the global public and private markets. This includes an investment in the Blackstone Core+ fund which provides exposure to an exclusive portfolio of private North American real estate assets. The partnership with Blackstone, one of the world’s largest alternative asset investment managers, builds upon Middlefield 40 year plus history of real estate investing.

Key Reasons to Invest:

  • exposure to an actively managed fund providing tax-efficient distributions focused on the real estate and infrastructure sectors
  • the infrastructure sector has high barriers to entry and economies of scale which can provide investors with attractive returns and a natural hedge against inflation
  • the real estate sector performs well in both low and rising interest rate cycles and is also a proven hedge against inflation

RA.UN 

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Fund Overview

  • Ticker/CUSIP:
    RA.UN/596334102
  • Inception Date:
    November 26, 2019
  • Monthly Distribution:
    $0.04167
  • Advisor:
    Middlefield Capital Corporation
  • Eligibility:
    RRSPs, RRIFs, DPSPs, RESPs and TFSAs
  • Management Fee:
    1.10%
  • Risk Rating:
    Not Rated
  • Exchange:
    Toronto Stock Exchange

Fund Managers

Headshot of Robert Lauzon
Robert F. Lauzon
Managing Director and Chief Investment Officer
Headshot of Robert Moffat
Robert Moffat
Portfolio Manager
Shane Obata
Portfolio Manager

Performance

 
AS OF 1 MONTH 3 MONTHS 6 MONTHS YEAR-TO-DATE 1 YEAR 3 YEARS 5 YEARS 10 YEARS SINCE INCEPTION 2023 2022 2021 2020 2019
November 30, 2024 -0.82% -0.02% 5.77% 5.92% 6.22% -2.82% 1.18% - 1.17% -5.17% -8.04% 7.25% 7.54% -

Distributions

Total NAV & Distributions (since inception)  
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
November 30, 2024 December 03, 2024 0.04167
October 31, 2024 November 15, 2024 0.04167
September 30, 2024 October 15, 2024 0.04167
August 31, 2024 September 13, 2024 0.04167
July 31, 2024 August 15, 2024 0.04167
June 30, 2024 July 15, 2024 0.04167
May 31, 2024 June 14, 2024 0.04167
April 30, 2024 May 15, 2024 0.04167
March 31, 2024 April 15, 2024 0.04167
February 29, 2024 March 15, 2024 0.04167
January 31, 2024 February 15, 2024 0.04167
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2023 January 15, 2024 0.04167
November 30, 2023 December 15, 2023 0.04167
October 31, 2023 November 15, 2023 0.04167
September 30, 2023 October 13, 2023 0.04167
August 31, 2023 September 15, 2023 0.04167
July 31, 2023 August 15, 2023 0.04167
June 30, 2023 July 14, 2023 0.04167
May 31, 2023 June 15, 2023 0.04167
April 30, 2023 May 15, 2023 0.04167
March 31, 2023 April 14, 2023 0.04167
February 28, 2023 March 15, 2023 0.04167
January 31, 2023 February 15, 2023 0.04167
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2022 January 13, 2023 0.04167
November 30, 2022 December 15, 2022 0.04167
October 31, 2022 November 15, 2022 0.04167
September 30, 2022 October 14, 2022 0.04167
August 31, 2022 September 15, 2022 0.04167
July 31, 2022 August 15, 2022 0.04167
June 30, 2022 July 15, 2022 0.04167
May 31, 2022 June 15, 2022 0.04167
April 30, 2022 May 13, 2022 0.04167
March 31, 2022 April 14, 2022 0.04167
February 28, 2022 March 15, 2022 0.04167
January 31, 2022 February 15, 2022 0.04167
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2021 January 14, 2022 0.04167
November 30, 2021 December 15, 2021 0.04167
October 31, 2021 November 15, 2021 0.04167
September 30, 2021 October 15, 2021 0.04167
August 31, 2021 September 15, 2021 0.04167
July 31, 2021 August 13, 2021 0.04167
June 30, 2021 July 15, 2021 0.04167
May 31, 2021 June 15, 2021 0.04167
April 30, 2021 May 14, 2021 0.04167
March 31, 2021 April 15, 2021 0.04167
February 28, 2021 March 15, 2021 0.04167
January 31, 2021 February 12, 2021 0.04167
RECORD DATE PAYMENT DATE PAYMENT AMOUNT
December 31, 2020 January 15, 2021 0.04167
November 30, 2020 December 15, 2020 0.04167
October 31, 2020 November 13, 2020 0.04167
September 30, 2020 October 15, 2020 0.04167
August 31, 2020 September 15, 2020 0.04167
July 31, 2020 August 14, 2020 0.04167
June 30, 2020 July 15, 2020 0.04167
May 31, 2020 June 15, 2020 0.04167
April 30, 2020 May 15, 2020 0.04167
March 31, 2020 April 15, 2020 0.04167

Fund Details

Sector Allocation (%)

As Of September 30, 2024
Real Estate 78.90%
Energy 8.90%
Utilities 8.00%
Pipelines 4.20%

Geographic Allocation (%)

As Of September 30, 2024
Canada 63.40%
U.S. 36.60%
International 0.00%

Top 10 Holdings

1 Blackstone Core+ Real Estate LP 36.60%
2 Chartwell Retirement Residences 5.60%
3 Boardwalk REIT 5.50%
4 Minto Apartment REIT 5.40%
5 Topaz Energy Corp. 4.90%
6 Granite REIT 4.60%
7 TransAlta Corporation 4.20%
8 Gibson Energy 4.20%
9 Tourmaline Oil Corp. 4.00%
10 Altagas Ltd. 3.80%
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