In plain terms — CBRE Global Real Estate Income Fund
Shares currently cost about 6.1% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 0.4% premium, so today's level is unusually wide for this fund (Z-score -2.5). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 19.3% a year of the share price (18.1% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.07 of assets — a ReinvestCapture™ rate of 20.5%, more than the payout rate itself. That is buying power, not a return.
The assets themselves fell 11.8% over the past year including distributions (NAV total return).
The fund borrows: about 24% of what it holds is financed with leverage, which magnifies both gains and losses.
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Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -0.41% | 2.34% | -2.01 | 55 |
| 6 months | +0.10% | 1.90% | -2.74 | 107 |
| 1 year | +0.43% | 2.22% | -2.50 | 204 |
| 3 years | -1.80% | — | — | — |
| 5 years | -4.13% | — | — | — |
Current contemporaneous premium/discount -5.11% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -6.37% to +5.07%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -11.75% | -20.46% | -15.37% | -25.42% | -5.26% | -16.07% |
| Market price total return | -10.45% | -18.59% | -11.13% | -20.64% | -0.23% | -12.19% |
| NAV return | -6.43% | -14.22% | -11.56% | -17.08% | -7.20% | -16.28% |
| NAV total return | -5.07% | -12.23% | -7.10% | -11.77% | -2.36% | -12.55% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The CBRE Clarion Global Real Estate Income Fund strategically allocates capital to a diverse array of real estate sectors. These investments span commercial properties like offices and retail, residential assets such as apartments, industrial sites, hospitality venues, healthcare facilities, and storage solutions, alongside other diversified real estate types. The fund's mandate involves acquiring publicly traded equities within the mature markets of North America, Europe, Australia, and Asia. It specifically targets shares of companies operating within the broader real estate industry, including Real Estate Investment Trusts (REITs), without restriction on market capitalization. The construction of its portfolio is guided by a rigorous fundamental analysis framework, supported by proprietary in-house research to inform all investment choices.
CEF Explorer research page for CBRE Global Real Estate Income Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.