AEW Real Estate Fund

Fund Facts:

Fund Highlights:

• Portfolio is diversified across property type, sector, region and holding
• Portfolio management team takes a value approach to REIT security selection
• AEW has focused exclusively on real estate investments for more than 25 years
• May be suitable for investors seeking portfolio diversification, yield, capital appreciation, and total return potential, along with the potential hedge to inflation through exposure to the public REITs market

Fund Objective:

• Seeks to provide investors with above-average income and long-term growth of capital

Investment Strategy:

• AEW begins with a value-oriented approach to identify attractively priced securities with the potential for price appreciation.
• The research team consistently applies top-down assessment of local market fundamentals with a bottom-up, value-oriented stock selection.
• Their goal is to build a portfolio that is diversified by property type, sector, ownership and geographic region.
• AEW applies in-depth research coupled with extensive knowledge of real estate and capital markets, allowing the portfolio managers to achieve a high level of diversification.
• Portfolio and risk management is maintained with portfolio-level checks and balances.
   

Risks:

• The fund concentrates its investments in real estate investment trusts (REITs) and real estate-related companies. This subjects the fund to the risks of the real estate industry. Such risks include fluctuating real estate values, changes in interest rates and property taxes, and the risk of mortgage defaults or mortgage prepayments.
• The fund is also subject to the risks of the stock market, which include unpredictable drops in value or periods of lackluster performance.
• Small-cap investments carry special risks, including narrower markets, limited financial and management resources, less liquidity and greater volatility than large-company stocks.
   

Performance:

Please refer to the Fees & Expenses tab to the left for more information.

Monthly Performance (as of 08/31/2010)
	1 YR	3 YR	5 YR	10 YR	Since Inception	Share Class Inception Date
NAV	33.98%	-5.50%	1.47%	N/A	10.08%	12/29/2000
w/MSC	26.23%	-7.34%	0.27%	N/A	9.40%	12/29/2000

Quarterly Performance (as of 06/30/2010)
	1 YR	3 YR	5 YR	10 YR	Since Inception	Share Class Inception Date
NAV	53.37%	-8.53%	0.53%	N/A	9.34%	12/29/2000
w/MSC	44.59%	-10.33%	-0.65%	N/A	8.65%	12/29/2000

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so you may gain or loss when shares are sold. Current performance may be higher or lower than quoted.

Important Performance Information

Holdings:

Available Downloads	PDF
Full Holdings
Top 10 Holdings
Sector Allocation	N/A

Fund Managed by:

• 

Fund portfolio managers:

Information as of the most recent prospectus

• AEW Capital Management, L.P.

  Matthew A. Troxell, CFA

  Matthew A. Troxell has managed the AEW Real Estate Fund since its inception in December 2000. Mr. Troxell, Managing Director and Portfolio Manager, joined AEW in 1994. Mr. Troxell, a member of the National Association of Real Estate Investment Trusts, received a BA from Tufts University. He holds the designation of Chartered Financial Analyst and has over 26 years of experience in investment analysis and portfolio management.

Fees & Expenses

Information as of the most recent prospectus

Expense Ratio
Gross expense ratio	1.63%
Net expense ratio	1.50%
Contract status	Contractual
Expense cap expiration date	04/30/2011

Maximum Sales Charge
Up front	5.75%

Fund History

Date: Since: 1/1/2009

No fund history available.

Literature & Commentary

Fund Documents
Summary Prospectus Share Class A/B/C
Prospectus Share Class A/B/C
Summary Prospectus Share Class Y
Prospectus Share Class Y
SAI
Annual Report
Semiannual Report

Commentary and Marketing Materials
Fact Sheet Share Class A/C
Fact Sheet Share Class Y