In Cache funds, the real estate investments are managed through partnerships with external managers, and these investments are subject to management fees. The typical management fee for the real estate portion is approximately 0.8% to 1.0% of the real estate investment value annually.

This fee is paid to the external real estate manager for their services in managing the direct real estate holdings. These fees are part of the overall cost structure of the fund and are factored into the fund's performance and net asset value calculations.

Participants in the fund only pay the management fees specified here.
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