The Altegris/AACA Opportunistic Real Estate Fund Class A is a diversified mutual fund designed to provide total return through a combination of long-term capital appreciation and current income. This fund primarily invests in the equity securities of companies owning real assets within the real estate sector, utilizing both long and short positions to capitalize on market opportunities. Its strategy is not constrained by a benchmark index, enabling the fund to adjust exposure based on real estate market conditions—either expanding or reducing its positions as dynamics shift. Managed by American Assets Capital Advisers (AACA), the fund emphasizes sectors where tenants face high barriers to entry and exit, limited alternatives, and sustained demand, which supports its bias towards durable income streams and a potential inflation hedge. Notable holdings often span diverse industries such as real estate, infrastructure, energy, and utilities. The fund’s approach aims to generate higher risk-adjusted returns than traditional long-only real estate strategies by seeking alpha, managing market risk, and adapting to cyclical trends in the property sector. It plays a distinctive role for investors looking for dynamic real estate exposure with potential hedging characteristics in their portfolios.
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