Black Creek president: Marketing helps nontraded REITs grow | Trump budget includes military-spending boost, infrastructure funding | Artivest, Altegris announce merger
February 15, 2018
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Black Creek president: Marketing helps nontraded REITs grow
Black Creek Group joined Blackstone in December as the only nontraded real estate investment trusts to join the Morgan Stanley Global Wealth Management Group platform. Retail investors provide an important opportunity for nontraded REITs to grow, said Black Creek President Raj Dhanda, adding that the nontraded REIT space could reach $100 billion in 10 years.
PERE (2/7) 
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Trump budget includes military-spending boost, infrastructure funding
President Donald Trump's budget proposal to Congress calls for a 7% increase in military spending, additional money for infrastructure improvements and some new funding to fight opioid abuse and to build a wall along the US border with Mexico. The infrastructure program leaves much of the responsibility for funding projects with state and local governments.
USA Today (2/13),  The Hill (2/12) 
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Artivest, Altegris announce merger
Artivest and Altegris have announced a merger that will result in an alternative investments platform with about $3 billion in assets under management. The combined company will be operate under the Artivest name.
InvestmentNews (tiered subscription model) (2/8),  The DI Wire (free registration) (2/12) 
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Harnessing the strength of Griffin
For over 20 years, Griffin Capital has been a leading provider of alternative investments and has built a reputation and track record of success. We pride ourselves on delivering consistent, predictable outcomes—a rarity in these uncertain times. Learn more here.
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Industry News
Strategic Storage Trust IV now able to accept Pa. investors
Strategic Storage Trust IV can now accept subscriptions from Pennsylvania investors after surpassing $50 million in overall subscriptions. The publicly registered nontraded real estate investment trust is offering as much as $1 billion in common stock shares and as much as $95 million in distribution reinvestment plan shares.
The DI Wire (free registration) (2/8) 
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CNL Healthcare Properties announces new NAV per share
CNL Healthcare Properties has approved a new net asset value per share of $10.32, including deductions for estimated transaction costs and fees. Last year, the nontraded real estate investment trust set a NAV of $10.04 without the inclusion of deductions.
The DI Wire (free registration) (2/13) 
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Cetera organizes broker-dealers into channels
Cetera Financial Group has created traditional and specialty channels for its six broker-dealers. The traditional channel comprises Cetera Advisors, Summit Brokerage Services and First Allied Securities, while the specialty channel is composed of Cetera Advisor Networks, Cetera Financial Specialists and Cetera Financial Institutions.
InvestmentNews (tiered subscription model) (2/13) 
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SmartStop Asset Management: The Self Storage Expert
The self storage industry is a unique asset class which displays recession-resistant traits as it is affected by life factors such as marriage, divorce, retirement, relocation, and military enlistment. We believe this, combined with a fragmented industry, makes for an attractive real estate asset class. Learn more.
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Policy Update
SEC cracks down on advisors selling high-fee mutual fund shares
SEC cracks down on advisors selling high-fee mutual fund shares
(Chip Somodevilla/Getty Images)
The Securities and Exchange Commission said it won't impose fines on advisors who self-report the improper sale of some high-fee mutual fund shares and return the money they received to the investors who were harmed. The SEC said it has filed many actions against financial professionals who failed to disclose to investors that there was a mutual fund share class available that was less expensive than the one they were being sold.
ThinkAdvisor (free registration) (2/12),  InvestmentNews (tiered subscription model) (2/12) 
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SEC fiduciary-rule work includes questions about recouping claims
SEC fiduciary-rule work includes questions about recouping claims
Clayton (Justin Sullivan/Getty Images)
Jay Clayton, chairman of the Securities and Exchange Commission, has told a Senate committee the SEC's efforts to review and amend the US Labor Department's fiduciary rule focus on how to ensure aggrieved investors are compensated. An average of $40 million annually in arbitration awards went unpaid from 2012 to 2016, sometimes because firms or brokers entered bankruptcy.
MLex (subscription required) (2/9) 
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Business Best Practices
How to soothe client fears in the current turmoil
This week's stock market turbulence is likely to prompt a spate of calls to advisors from their worried clients. Columnist Kimberly Foss suggests advisors ease their concerns by pointing out that the market is cyclical by nature and that corrections can result in outstanding investment opportunities.
Financial Planning online (2/8) 
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7 noninvestment topics advisors should raise
As advisors start their round of yearly meetings with clients, planner Kevin McKinley lists seven noninvestment subjects to broach. Among his suggestions, he says advisors should ask about monthly spending patterns and upcoming large expenditures and also offer to provide advice and support for clients' children.
WealthManagement (2/9) 
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The greatest achievement was at first and for a time a dream. The oak sleeps in the acorn; the bird waits in the egg. ... Dreams are the seedlings of realities.
James Allen,
writer
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About IPA
For over 30 years, the Investment Program Association (IPA) has supported individual investor access to a variety of asset classes not correlated to the traded markets and historically available only to institutional investors, including: non-listed REITs, non-listed business development companies (BDCs), energy and equipment leasing programs and real estate private equity offerings. Direct Investment products have been held in the accounts of more than 2.8 million individual investors. They remain a critical component of an effectively diversified investment portfolio and serve an essential capital formation function for the U.S. economy. The mission of the IPA is advocating Direct Investments through education and public awareness.

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