Fund Center Quick Links

• Overview
• Grubb & Ellis AGA
  Realty Income Fund
• Grubb & Ellis AGA
  US Realty Fund
• Grubb & Ellis AGA
  International Realty Fund
• Price/NAV
• Performance
• How to Invest
• Literature

Grubb & Ellis AGA Realty Income Fund

Price/NAV | Performance | Top Ten Holdings | Sector Distribution | Asset Allocation | Income History

OBJECTIVE

Current income with long-term capital appreciation as a secondary objective.

STRATEGY

The fund invests in a diversified portfolio of dividend paying real estate related securities, offering investors the potential for income, portfolio diversification and access to an experienced, professional management team.

	Jay P. Leupp, senior portfolio manager, discusses Grubb & Ellis AGA Realty Income Fund (8/09)
	Manager's Year End Commentary (2/23/09)

PORTFOLIO AS OF 6/30/10

TOP TEN HOLDINGS* AS OF 6/30/10

Cedar Shopping Centers, Inc., Series A	Preferred	5.0%
Ashford Hospitality Trust, Inc., Series A	Preferred	5.0%
Hospitality Properties Trust	REIT	4.9%
Developers Diversified Realty Co., Series H	Preferred	4.9%
Sun Communities Inc.	REIT	4.8%
Lexington Realty Trust, Series D	Preferred	4.8%
Glimcher Realty Trust, Series F	Preferred	4.8%
First Industrial Realty Trust, Series J	Preferred	4.5%
Starwood Property Trust, Inc.	REIT	4.5%
CapLease Inc.	REIT	3.9%

*This does not include cash. Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.

SECTOR DISTRIBUTION AS OF 6/30/10

ASSET ALLOCATION AS OF 6/30/10

INCOME DISTRIBUTION HISTORY AS OF 6/30/10

	Date	Per Share
Quarterly dividend	11/26/08	$0.175
Year-end dividend	12/29/08	$0.059
Quarterly dividend	4/1/09	$0.130
Quarterly dividend	7/1/09	$0.131
Quarterly dividend	9/30/09	$0.132
Year-end dividend	12/31/09	$0.195
Quarterly dividend	3/31/10	$0.134
Quarterly dividend	6/30/10	$0.135
Total since inception (7/30/08)		$1.091

---

Mutual fund investing involves risk, including the potential loss of principal.

Investors should be aware of the risks involved with investing in a fund concentrating in REITs and real estate securities, such as declines in the value of real estate and increased susceptibility to adverse economic or regulatory developments. Investments in asset backed and mortgage backed securities include additional risks that investors should be aware of, such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Investing in small and medium-sized companies involves greater risks than those associated with investing in large company stocks, such as business risk, significant stock price fluctuations and illiquidity. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Diversification does not assure a profit or protect against a loss in a declining market.

Grubb & Ellis AGA Mutual Funds are distributed by Quasar Distributors, LLC.