TAILIEUCHUNG - Fund Spotlight Fidelity® Real Estate Investment Portfolio

If you know the present value of a future cash flow, you can determine what a good purchase price should be for that investment. You would not want to pay more than its present value, and would like to pay less than its present value. If you know the key variables, you can use them in a meaningful risk assessment and in negotiations with other parties (buyers, sellers, lenders, investors, landlords, tenants). However, this is where uncertainty enters the picture. Reasonable people will disagree on the projected income from an asset, the projected expenses required. | FUND SPOTLIGHT Fidelity Real Estate Investment Portfolio November 2011 REIT overview . Congress created Real Estate Investment Trusts REITs in 1960 as a way to make investment in large-scale income-producing real estate accessible to all investors. The birth of REITs provided the general public with access to a new set of investment opportunities which previously had only been available to institutional investors and wealthy individuals through direct real estate investment. In its early years the industry was dominated by mortgage REITs which provide debt financing for commercial or residential properties through their investment in mortgages and mortgage-backed securities. Equity REITs that own and manage commercial properties were limited due to laws that required separation of asset ownership and management. Passage of the Tax Reform Act of 1986 permitted REITs to both own and manage properties and set the stage for a wave of equity IPOs in the mid-1990s which caused the number of REITs to skyrocket from 119 in 1990 to 219 in 1995 Exhibit 1 . Today the majority of publicly traded . REITs are equity REITs that own and typically manage commercial real estate properties. REITs operate across a diverse group of sectors and are not directly exposed to single-family residential housing Exhibit 2 . To qualify as a REIT in the . companies must invest at least 75 of total assets in real estate derive at least 75 of gross income as rent from real property or interest from mortgages on real property and distribute annually at least 90 of taxable income to shareholders in the form of dividends. Andy Rubin CFA Manager Investment Capability Management EXHIBIT 1 EXHIBIT 2 GROWTH OF . REIT UNIVERSE SINCE FUND INCEPTION A DIVERSE GROUP OF . REIT SECTORS KEY TAKEAWAYS On November 17 2011 the Fidelity Real Estate Investment Portfolio celebrated its 25th year anniversary. The fund is one of the industry s oldest and largest mutual funds dedicated to real estate .

• Đầu tư Bất động sản
• Abiotic Stress
• SRO Family
• Characterization
• Plant Antioxidative
• Heavy Metal Toxicity
• Genetic and Molecular
• A constraint in farming
• Heat stress
• Water logging
• Mneral toxicity
• Mutualistic Symbio tic
• Crop plants
• Abiotic stress management of crop plants
• Plant Endophyte interaction
• Molecular breeding
• Anthesis SilkingInterval
• Abiotic stress (Drought) tolerance in maize
• Recent advances in breeding
• Biotic and abiotic stress
• Genetic improvement of wheat
• Genetic improvement
• Wheat for biotic
• Abiotic stress tolerance
• High temperature
• Cellular changes
• Impact of abiotic stress
• Plant growth
• Crop production
• Abiotic stress tolerance in legumes
• Critical approaches
• Global climate changes
• Food production presently exacerbated
• Compatible solute
• Epigenetic modification
• Cross talk
• Seed germination
• Stress tolerance
• BMC Plant Biology
• Endoplasmic reticulum
• Biotic stress
• Plant physiology
• Ferritin lacking mutant
• Triticum aestivum L
• A brassicae
• Cytosolic calcium elevation
• Plant Biology
• Creeping bentgrass
• Small heat shock protein
• Especially heat stress
• Tamarix hispida
• Turkish Journal of Botany
• Tạp chí Thực vật học
• Gene expression
• Posttranslational modification
• Small molecules
• Stress combinations
• Water status
• Vitis vinifera
• Abiotic biotic stress
• Manage Abiotic Stress
• Genetic Diversity
• Characterisation
• Plant Responses
• Abiotic Stresses
• Importance of Genetic
• Dryland Regions
• Trehalose and Abiotic
• Biological Systems
• Glyoxalase System
• Organic farming
• Biotic and abiotic stress tolerance
• Solanaceous vegetables
• Alternate tool for biotic
• Abiotic tolerance
• Improved growth and production
• Rubisco and abiotic stresses in plants
• 1 5 bisphosphate carboxylase/oxygenase
• Photo respiratory carbon oxidation
• ATP dependent manner
• Chlorophyll
• Salinity Stress
• Salt Tolerance
• Harvested Fruits
• Fruits and Vegetables
• Moisture stress
• Salinity management
• Cereals and pulses
• Amelioration in cereals
• Genetics and Adaptation
• Plant Genes
• Diagnosis