NAREIT Reiterates Comments on Fiduciary Definition, Best Interest Contract Exemption

09/25/2015

The NAREIT Public Non-Listed REIT (PNLR) Council filed comments on Sept. 25 regarding the Department of Labor’s proposal to expand the definition of fiduciary. The PNLR Council also weighed in on the Best Interest Contract Exemption.

The PNLR Council reiterated that while NAREIT shares the goal of improving the investment advice provided to retirement plans and their participants, the DOL should take care not to limit the range of products and services available to investors.

The PNLR Council previously submitted comments to the DOL on the issues in July.

(Contact: Bonnie Gottlieb at bgottlieb@nareit.com)

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.