The prospectus states the Fund seeks long-term total return, after fees and expenses, in excess of inflation. Under normal circumstances it invests at least 80% of net assets plus investment borrowings in real assets and real asset companies across real estate, agriculture, infrastructure, energy, natural resources and timber. It invests directly in listed securities and indirectly through private institutional funds, which were 74.93% of net assets at March 31, 2026. The Fund concentrates in real asset industries, is non-diversified, invests in U.S. and foreign markets including emerging markets, may use derivatives for cash management, and may borrow for investment, repurchases or emergencies.