Benefitting From In-migration And Growth At Magnet Cities
KORE benefits from in-migration to Texas and Washington where there is no state-level personal income tax. Americans are also relocating to fast-growing Super Sun Belt (Atlanta, Dallas and Houston) and 18-hour (Seattle, Austin and Denver) cities, which accounted for 20.6% and 69.1% of AUM respectively, for good jobs, affordable housing and better lifestyle. The in-migration has accelerated due to the Tax Cut & Jobs Act of 2017 and the COVID-19 pandemic. KORE provides distribution yield of 7.4% for FY21.