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Jason Kephart on Muck Rack

Jason Kephart

Chicago
As seen in: MSN, MSN UK, The Independent (UK), The Washington Post, ABC News, Aol, Yahoo Finance, Yahoo Finance Canada, Yahoo Finance New Zealand, Yahoo Finance Singapore and
Director, multi-asset ratings at Morningstar Research Services. Opinions are my own. Important disclosure information bit.ly/3wJuaxV
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Articles

Direct Real Estate Funds Are Making a Comeback

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By Jason Kephart
| Morningstar
Semiliquid direct real estate funds are finally getting back on solid ground. The average semiliquid direct real estate fund gained 5.81% for the year ended June 30, 2026. It was the best 12-month stretch for the asset class in more than three years. Meanwhile, Blackstone Real Estate Income Trust, the $57 billion behemoth in the category, announced the second quarter of 2026 was its first quarter of net inflows in almost four years.
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A Novel Exit Strategy Emerges for Besieged Interval Funds

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By Max Curtin, Jason Kephart
| Morningstar
Harrison Street Real Estate’s VCMIX investors need to stumble no more over one another in attempts to withdraw money. The fund, which has capped redemptions for 15 straight quarters, will have the option to put its shares up for auction between scheduled quarterly repurchase periods. Although auctions are not novel in themselves, offering an intraperiod one for an interval fund is, and this first of its kind could ease the stampede for the exits.
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What Doubters Get Wrong About the 60/40 Portfolio

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By Jason Kephart
| Morningstar
Rising interest rates are once again fueling calls to revise the classic 60/40 portfolio of US stocks and bonds. For decades, investors have relied on bonds not to maximize returns, but to help manage risk and help them stay invested when stocks tumble. Yet the correlation between stocks and bonds remains higher than before 2022, reviving a familiar argument: If bonds no longer reliably zig when stocks zag, perhaps the traditional balanced portfolio no longer works.
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