April performance numbers are in and we also have a new member to the portfolio. Our private REITs had a nice bounce back month after March's down numbers. Although both are down slightly on the year still. Fundamentals are very strong here, these REITs have occupancy rates at 95% and 98% and demand has not gone down. Another area where I am very excited is about the private credit sector of the portfolio. Private credit funds are now fully realizing the interest rate gains over the last year. I believe in the space so much so that I added another group into the portfolio. Adding Carlyle's Tactical Private Credit fund. And it came out with strong performance out of the gate, 1.39% for April and up 4.91% on the year.
|Performance||April||Year to Date||Annualized Dividend Rate|
|Nuveen Global Cities REIT2||.28%||-1.23%||5.41%|
|Blackstone Private Credit3||1.2%||4.6%||10.1%|
|Carlyle Tactical Credit4||1.39%||4.91%||10.9%|
For reference, for April, the S&P was up 1.5%, the NASDQ was up .1%, and the AGG(Bond Index) was down .4%. Markets cooled in April after having a strong start to the year. This is where having a consistent performance helps balance out a portfolio. We can talk further if this is a strategy that you think could help support your overall portfolio construction.
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