A new venture from private wealth adviser Accordant Investments and sub-adviser IDR Investment Management will offer individual investors a registered interval fund product that tracks the performance of private real estate funds. Accordant ODCE Index Fund trades under ticker symbol ODCEX and tracks the NCREIF Fund Index – Open-end Diversified Core Equity (NFI-ODCE) on a net-of-fees basis.
Many institutional investors allocate a portion of their portfolios to investment in private real estate, typically 10 percent of total fund assets, using a variety of structures, from closed- and open-end funds to separately managed accounts and joint ventures. The U.S. institutional real estate market is more than $8.4 trillion, according to the Pension Real Estate Association, including $1.8 trillion in the private equity segment.
But individual investors have had difficulty accessing the benefits of investing in private real estate, given the available products, and Accordant i