The AAM/Phocas Real Estate Fund - Class A (APRAX) is a mutual fund that primarily invests in real estate securities, such as real estate investment trusts (REITs) and real estate operating companies (REOCs). This fund aims to provide investors with long-term capital appreciation and income by investing in a diversified portfolio of real estate assets. The Class A shares of this fund typically have lower fees and expenses compared to other share classes, making it an attractive option for investors looking to maximize their returns. Overall, APRAX offers a way for investors to gain exposure to the real estate market through a professionally managed and diversified fund.