Versus Capital Advisors has agreed to provide Versus Capital Multi-Manager Real Estate Income Fund with a discount to its investment management fee.

As defined within the fund's prospectus dated 12 July 2012, the fund has entered into an agreement with Versus Capital that pays a quarterly fee at an annual rate of 0.95 per cent of the fund's net asset value.

Versus Capital has agreed to reduce its investment management fee for the one year period ending on 15 July 2013 as follows:

With respect to the cumulative net asset value between USD0 and USD25m of assets under management, an annual fee of 50 basis points (0.50 per cent);

With respect to the cumulative net asset value in excess of USD25m assets under management, an annual fee of 95 basis points (0.95 per cent)

Versus Capital hopes this will incentivise investors by mitigating some risk for early adopters of the fund, and allow the fund to reach a more substantial level of assets under management quicker providing the opportunity for broader investment diversification.