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Accordant Investments Introduces its First Registered Interval Fund, Accordant ODCE Index Fund - ODCEX
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Accordant Investments LLC launches its first registered interval fund, Accordant ODCE Index (ODCEX), tracking the NCREIF Fund Index - Open End Diversified Core Equity (NFI-ODCE Index) on a net-of-fee basis. The NFI-ODCE Index has a market value of over $300 billion and consists of approximately 3,000 geographically diversified properties across the 35 largest U.S markets. The fund aims to provide exposure to real estate investment vehicles and attractive risk-adjusted returns.
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Accordant Investments LLC launches its first registered interval fund, providing investors with an indexing strategy previously limited to institutional investors.
The NFI-ODCE Index has a market value of over $300 billion and consists of approximately 3,000 geographically diversified properties across the 35 largest U.S markets.
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SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Accordant Investments LLC (“Accordant”), a registered investment advisor, has announced the launch of its first registered interval fund, Accordant ODCE Index (“Fund”), ticker: ODCEX. The Fund employs an indexing investment approach that seeks to track the NCREIF Fund Index – Open End Diversified Core Equity (“NFI-ODCE Index”) on a net-of-fee basis while minimizing tracking error.
NFI-ODCE Index has been tracking market performance for the past 45 years and today is considered to be among the most comprehensive investable indexes for U.S. core private real estate. In our opinion, the index is similar to what the S&P 500 is for the largest publicly traded stocks.
“Investors can now participate in an indexing strategy previously limited only to institutional investors,” said Greg Stark, CEO of Accordant. “Through our affiliation with IDR, the innovators and patent holders behind the first index fund for private real estate, the fund is designed to provide exposure and streamline investor access to real estate investment vehicles and may provide you with a steady source of income, broader portfolio diversification and attractive risk-adjusted returns.”
Garrett Zdolshek, Portfolio Manager for Accordant added, “IDR has been successfully executing an ODCE index strategy for nearly five years with an institutional fund, making us enthusiastic that our Fund will have an equal appeal to a broader group of investors.”
As of June 30, 2023, the NFI-ODCE Index is comprised of over $300 billion in market value supported by roughly 3,000 properties that are geographically diversified across the 35 largest U.S markets. Property types include industrial, apartment, office, retail and specialty, which average over $100 million in value per asset.
About Accordant
Accordant Investments LLC (“Accordant”) is a registered investment advisor headquartered in Scottsdale, Arizona. Leveraging a 40-year heritage of strategic alliances to bring the advantages of institutional private real estate to the retail market, Accordant created an index fund solution (ticker: ODCEX) that enables investors to purchase through major platforms on a daily basis.
IDR Investment Management, LLC (“IDR”) is a registered investment advisor with $5.4 billion in AUM (as of 6/30/23) and is a subsidiary of Emphasis Capital, LLC and a sub-advisor of Accordant Investments, LLC. IDR is widely recognized as a pioneer in private real estate indexing. The firm’s breakthrough innovations and patented asset management process have earned the confidence of institutional investors and wealth managers alike. Its philosophy has remained steadfast to believe in a consistent process that allows it to deliver the portfolio stability and investment outcomes clients have come to expect through all market cycles. For more information, visit www.idrinvestments.com.
