NEWTON, Mass.--(BUSINESS WIRE)--
RMR Real Estate Income Fund (NYSE MKT:RIF) today announced the promotion
of Fernando Diaz, CFA, (age 47) to President and Senior Portfolio
Manager. Diaz will replace Adam D. Portnoy (age 44) who will remain a
Managing Trustee on the RIF Board of Trustees and a co-portfolio manager
of the fund along with Mr. Diaz.
Adam Portnoy made the following comment on the announcement:
"Since joining the RMR Funds Fernando has clearly demonstrated his
expertise in yield focused real estate investments. Under
Fernando's direction, RIF's return on net asset value, or NAV, has
exceeded both the peer group and the MSCI US REIT benchmark for the most
recent one, three and five year measures.1 The
Board looks forward to Fernando's continued leadership."
Mr. Diaz served as Vice President and portfolio manager of RIF and its
predecessor funds since 2007. He also serves as Vice President of RMR
Advisors, Inc. the advisor to RIF. Mr. Diaz has over 14 years of
experience as a securities analyst and portfolio manager. Prior to
joining RMR Advisors, Mr. Diaz was a senior REIT analyst and assistant
portfolio manager with GID Securities, LLC and a senior REIT analyst and
assistant portfolio manager with State Street Global Advisors/The
Tuckerman Group. He received an MBA with a concentration in Finance from
Bentley University and a BS in Mechanical Engineering from Northeastern
University.
1Source: Morningstar, as of February 19, 2015. The peer group
cited was developed by Morningstar. Past performance is not indicative
of future results.
RMR Real Estate Income Fund
Olivia Snyder, 617-796-8253
Analyst,
Investor Relations
www.rmrfunds.com
Source: RMR Funds
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