0001099910-16-000369.txt : 20160518 0001099910-16-000369.hdr.sgml : 20160518 20160518141515 ACCESSION NUMBER: 0001099910-16-000369 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 14 FILED AS OF DATE: 20160518 DATE AS OF CHANGE: 20160518 EFFECTIVENESS DATE: 20160518 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AFL CIO HOUSING INVESTMENT TRUST CENTRAL INDEX KEY: 0000225030 IRS NUMBER: 526220193 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-59762 FILM NUMBER: 161660181 BUSINESS ADDRESS: STREET 1: 2401 PENNSYLVANIA AVENUE, NW STREET 2: SUITE 200 CITY: WASHINGTON STATE: DC ZIP: 20037 BUSINESS PHONE: 2023318055 MAIL ADDRESS: STREET 1: 2401 PENNSYLVANIA AVENUE, NW STREET 2: SUITE 200 CITY: WASHINGTON STATE: DC ZIP: 20037 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AFL CIO HOUSING INVESTMENT TRUST CENTRAL INDEX KEY: 0000225030 IRS NUMBER: 526220193 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-03493 FILM NUMBER: 161660182 BUSINESS ADDRESS: STREET 1: 2401 PENNSYLVANIA AVENUE, NW STREET 2: SUITE 200 CITY: WASHINGTON STATE: DC ZIP: 20037 BUSINESS PHONE: 2023318055 MAIL ADDRESS: STREET 1: 2401 PENNSYLVANIA AVENUE, NW STREET 2: SUITE 200 CITY: WASHINGTON STATE: DC ZIP: 20037 0000225030 S000009768 AFL CIO HOUSING INVESTMENT TRUST C000026832 AFL CIO HOUSING INVESTMENT TRUST 485BPOS 1 aflcio_485bpos.htm AFLCIO HOUSING INVESTMENT TRUST
 
As filed with the Securities and Exchange Commission on May 18, 2016
 


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

-----------------
 
FORM N-1A

Registration Statement Under The Securities Act of 1933          
 
 
[X]                                                       
Pre-Effective Amendment No.    
 
[   ]
Post-Effective Amendment No. 68   
 
[X]
  and/or    
Registration Statement Under The Investment Company
Act of 1940 Amendment No. 71 
  [X] 
                                                    
----------------------

Registrant's Name, Address and Telephone Number:
American Federation of Labor and Congress of Industrial Organizations
Housing Investment Trust*
2401 Pennsylvania Avenue, N.W., Suite 200
Washington, D.C.  20037
(202) 331-8055

Name and Address of Agent for Service:
Kenneth G. Lore, Esq.
Katten Muchin Rosenman LLP
2900 K Street, N.W.
North Tower – Suite 200
Washington, DC 20007-5118

-------------------
It is proposed that this filing will become effective:

[X] immediately upon filing pursuant to paragraph (b)
[   ] on (date) pursuant to paragraph (b)
[   ] 60 days after filing pursuant to paragraph (a)(1)
[   ] on (date) pursuant to paragraph (a)(1)
[   ] 75 days after filing pursuant to paragraph (a)(2)
[   ] on (date) pursuant to paragraph (a)(2) of rule 485


If appropriate, check the following box:

[  ] This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

*This filing relates solely to Series A—AFL-CIO Housing Investment Trust






 
SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of this post-effective amendment pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this amendment to the Registration Statement to be signed on its behalf by the undersigned, thereto duly authorized, in the City of Washington, District of Columbia on the 18th day of May, 2016.
AMERICAN FEDERATION OF LABOR AND CONGRESS OF INDUSTRIAL   ORGANIZATIONS HOUSING INVESTMENT TRUST

 By:

 /s/ Stephen Coyle
 Stephen Coyle
  Chief Executive Officer

Pursuant to the requirements of the Securities Act of 1933, this amendment to the Registration Statement has been signed below by the following persons in the capacities indicated on the 18th day of May, 2016:
 
                                                  /s/ Richard Ravitch *
                                                   Richard Ravitch
  Chairman

/s/ Vincent Alvarez *
Vincent Alvarez
  Trustee

/s/ James Boland *
James Boland
  Trustee

/s/ Sean McGarvey*
Sean McGarvey
  Trustee

/s/ Kenneth E. Rigmaiden *
Kenneth E. Rigmaiden
  Trustee

/s/ Elizabeth Shuler *
Elizabeth Shuler
  Trustee

/s/ Richard L. Trumka *
Richard L. Trumka
  Trustee



/s/ Jack Quinn *
Jack Quinn
  Trustee

/s/ Marlyn J. Spear *
Marlyn J. Spear
  Trustee

/s/ Tony Stanley *
Tony Stanley
  Trustee

  /s/ Stephen Coyle
  Stephen Coyle
  Chief Executive Officer (Principal
  Executive Officer)

  /s/ Erica Khatchadourian
  Erica Khatchadourian
  Chief Financial Officer
 
 
 
 
 
 
 
 
 
 
 
 



* Erica Khatchadourian, by signing her name hereto, signs this document on behalf of each of the persons so indicated above pursuant to powers of attorney duly executed by such person and filed with the SEC.

  /s/ Erica Khatchadourian
  Erica Khatchadourian
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

INDEX TO EXHIBITS
 

Index No.
Description of Exhibit
   
EX-101.INS
XBRL Instance Document
   
EX-101.SCH
XBRL Taxonomy Extension Schema Document
   
EX-101.CAL
XBRL Taxonomy Extension Calculation Linkbase
   
EX-101.DEF
XBRL Taxonomy Extension Definition Linkbase
   
EX-101.LAB
XBRL Taxonomy Extension Labels Linkbase
   
EX-101.PRE
XBRL Taxonomy Extension Presentation Linkbase
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



EX-101.INS 3 achit-20160429.xml 0000225030 2016-04-29 2016-04-29 0000225030 achit:S000009768Member 2016-04-29 2016-04-29 0000225030 achit:S000009768Member achit:C000026832Member 2016-04-29 2016-04-29 0000225030 achit:S000009768Member achit:BarclaysCapitalAggregateBondIndexMember 2016-04-29 2016-04-29 iso4217:USD xbrli:pure 485BPOS 2015-12-31 AFL CIO HOUSING INVESTMENT TRUST 0000225030 false 2016-04-29 2016-04-29 2016-04-29 0.0113 0.0055 0.0334 0.0325 0.0456 0.0451 <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">As with any investment, you may lose money by investing in the HIT.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The bar chart below and the following table provide an indication of the risks of investing in the HIT by illustrating how returns can differ from one year to the next.&#160;</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The table also shows how the HIT's average annual total returns for the one-, five-, and ten-year periods compared with those of a broad measure of market performance.&#160;</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The HIT's past performance is not necessarily an indication of how the HIT will perform in the future.&#160;</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the highest return for a quarter</font></p> 2006-09-30 0.0391 <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">the lowest return for a quarter</font></p> 2013-06-30 -0.0248 <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0; background-color: white"><font style="font-weight: normal">www.aflcio-hit.com.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Barclays Capital Aggregate Bond Index (reflects no deductions for fees or expenses)</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="background-color: white">AFL CIO HOUSING INVESTMENT TRUST</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left">HIT'S OBJECTIVES</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font-weight: normal">The investment objective of the American Federation of Labor and Congress of Industrial Organizations Housing Investment Trust (&#34;HIT&#34;) is to generate competitive risk-adjusted total rates of return for its investors (&#34;Participants&#34;) by investing in fixed-income investments, primarily multifamily and single family mortgage-backed securities and mortgage-backed obligations (collectively, &#34;Mortgage Securities&#34;).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><font style="font-weight: normal">Other important objectives of the HIT are to encourage the construction of housing and to facilitate employment for union members in the construction trades and related industries.&#160; To accomplish its objectives, the HIT focuses its investments in multifamily Mortgage Securities (including those that directly or indirectly finance new construction or rehabilitation of multifamily housing projects and healthcare facilities) and in Mortgage Securities backed by multifamily or single family loans.&#160; All on-site construction work financed through the HIT's investments is required to be performed by 100% union labor.</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left">EXPENSES OF THE HIT</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font-weight: normal">This table describes the expenses that you may pay if you buy and hold units of beneficial interest in the HIT (&#34;Units&#34;).&#160; The HIT does not assess any sales charges (loads), redemption fees, exchange fees or any other account fees.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>ANNUAL HIT OPERATING EXPENSES</b></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">(expenses that you pay each year as a percentage</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">of the value of your investment)</p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0">Example</p> <p style="font: 8pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0; text-indent: 0.5in">This example is intended to help you compare the cost of investing in the HIT with the cost of investing in other mutual funds.</p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Portfolio Turnover</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font-weight: normal">The HIT generally conducts securities transactions on a principal-to-principal basis and does not pay commissions for trades.&#160; The HIT may incur transaction costs when it buys and sells certain securities (or &#34;turns over&#34; parts of its portfolio).&#160; A higher portfolio turnover rate may indicate higher transaction costs.&#160; During the most recent fiscal year, the HIT's portfolio turnover rate was 18.9% of the average value of its portfolio.</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left">PRINCIPAL INVESTMENT STRATEGIES</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font-weight: normal">The HIT's principal investment strategy is to construct and manage a portfolio that is composed primarily of multifamily and single family mortgage-backed securities and mortgage-backed obligations (collectively, &#34;Mortgage Securities&#34;) with higher yield, higher credit quality and similar interest rate risk versus the securities in the Barclays Capital Aggregate Bond Index (the &#34;Barclays Aggregate&#34;).&#160; As such, the HIT pursues a fundamental policy to concentrate in fixed-income securities in the mortgage and mortgage finance sector of the real estate industry.&#160; The HIT holds government and agency issued, guaranteed or insured multifamily mortgage-backed securities (&#34;MBS&#34;) that have call (or prepayment) protection, in place of corporate debt, some U.S. Treasury securities and some government-sponsored entity debt held in the Barclays Aggregate.&#160; Since government/agency multifamily MBS offer higher yields than comparable securities with similar credit and interest rate risk, the HIT is able to offer superior risk-adjusted returns compared to the Barclays Aggregate.&#160; All securities in which the HIT invests must meet certain requirements described in detail later in this Prospectus and in the HIT's Statement of Additional Information (&#34;SAI&#34;).&#160; Some types of these securities must meet certain standards of nationally recognized statistical rating organizations among other indicia of creditworthiness.&#160;&#160;The staff monitors the HIT's investments compared with those in the Barclays Aggregate and may adjust allocations by purchasing or selling securities.&#160; When deciding whether to buy or sell a specific security the staff compares the security&#160;to other similar securities and&#160;considers factors such as&#160;price, yield, duration and convexity (measures of interest rate sensitivity), servicer, geographic location, call or prepayment protection, as well as liquidity.&#160; The HIT may purchase Mortgage Securities by way of forward commitments.&#160; The HIT does not invest in Mortgage Securities that contain subprime loans.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; background-color: white"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font-weight: normal">The HIT uses a variety of strategies to manage risk.&#160; These strategies include, but are not limited to, managing the duration of the HIT portfolio within a range comparable to the Barclays Aggregate, and managing prepayment risk by negotiating prepayment restrictions for Mortgage Securities backed by multifamily housing or healthcare facility projects.&#160; The HIT seeks to minimize the risk of credit and default losses by purchasing securities that are guaranteed, insured, or otherwise credit-enhanced or that meet other criteria intended to manage risk.</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left">PRINCIPAL INVESTMENT RISKS</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><font style="font-weight: normal">There is no assurance that the HIT will meet its investment objective.&#160; The value of the HIT's investments and the resulting value of the Units may go up or down and Participants' holdings in the HIT could gain or lose value.&#160; As with any investment, you may lose money by investing in the HIT.&#160; The HIT's other principal risks are those of investing in fixed-income securities, which include the following types of risks:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; background-color: white"><font style="font-weight: normal">&#160;</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><u>Market Risk:</u>&#160;&#160;<font style="font-weight: normal">The value of securities held by the HIT may fall, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political or regulatory conditions, inflation, changes in interest rates or adverse investor sentiment.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; background-color: white"><font style="font-weight: normal">&#160;</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><u>Interest Rate Risk:</u><font style="font-weight: normal">&#160; As with any fixed-income investment, the market value of the HIT's investments will generally fall when market interest rates rise.&#160; 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other investments bearing lower interest rates than those which were prepaid.&#160; When market interest rates rise above the interest rates of the HIT's investments, the prepayment rate of the mortgage loans backing certain HIT securities may decrease, causing the average maturity of the HIT's investments to lengthen and making these investments more sensitive to interest rate changes.&#160; This could, in turn, further reduce the value of the HIT's portfolio and make the HIT's Unit price more volatile.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; background-color: white"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><b><u>Credit Risk:</u></b>&#160;&#160;<font style="font-weight: normal">Credit risk is the risk of loss of principal and interest as a result of a failure of a credit enhancement backing the HIT's investments after a default on the underlying mortgage loan or other asset, a downgrading of the credit rating (or a perceived decline in the creditworthiness) of an investment or the provider of </font>the credit enhancement for an investment, or a decline in the value of assets underlying the mortgage loan or other asset.</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; background-color: white"><b>&#160;</b></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><u>Default Risk:</u><font style="font-weight: normal">&#160;There is a risk that borrowers may default under the mortgage loans or other assets that directly or indirectly secure the HIT's investments.&#160; In the event of default, the HIT may experience a loss of principal and interest and any premium value on the related securities.&#160; This risk may be lessened to the extent that the securities are guaranteed or insured by a third party, including an agency of the U.S. government.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; background-color: white"><font style="font-weight: normal">&#160;</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><u>Liquidity Risk:</u><font style="font-weight: normal">&#160; Markets for particular types of securities may experience issues with liquidity.&#160; That is, a lack of buyers at a particular time could negatively impact the value of a security during such period, even though over time the payment obligations under the security may be met.&#160; Markets for some of the types of securities in which the HIT may invest have experienced liquidity issues in the past, and its investments may experience liquidity issues in the future.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; background-color: white"><font style="font-weight: normal">&#160;</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><u>Leverage Risk:</u><font style="font-weight: normal">&#160; The use of some investment or investing techniques may have the effect of magnifying, or leveraging, the effect of small changes in an asset, index or market.&#160; The HIT does not leverage its portfolio through the use of borrowings or derivatives, but it may invest in forward commitments which may effectively add leverage to its portfolio.</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left">HIT PAST PERFORMANCE</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font-weight: normal">The bar chart below and the following table provide an indication of the risks of investing in the HIT by illustrating how returns can differ from one year to the next.&#160; The table also shows how the HIT's average annual total returns for the one-, five-, and ten-year periods compared with those of a broad measure of market performance.&#160; The HIT's past performance is not necessarily an indication of how the HIT will perform in the future.&#160; Updated performance information is available from the HIT's website at www.aflcio-hit.com.</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><font style="font: 8pt Times New Roman, Times, Serif"><b>ANNUAL TOTAL RETURNS</b></font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>(Calendar Years&#151;Net of Operating Expenses)</b></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">During the ten-year period identified in the bar chart above, the highest return for a quarter was 3.91% (quarter ended September 30, 2006) and the lowest return for a quarter was -2.48% (quarter ended June 30, 2013).</font></p> </font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 8pt Times New Roman, Times, Serif"><b>AVERAGE ANNUAL TOTAL RETURNS</b></font></p> <p style="margin-top: 0; text-align: center; margin-bottom: 0"><font style="font: 8pt Times New Roman, Times, Serif"><b>(for the periods ended December 31, 2015)</b></font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Total Annual Fund Operating Expenses in this fee table may not correlate to the expense ratio in the HIT's financial highlights and financial statements because the financial highlights and financial statements reflect only the operating expenses of the HIT and do not include Acquired Fund Fees and Expenses, which are fees and&#160; expenses&#160; incurred&#160; indirectly&#160; by&#160; the&#160; HIT&#160; through&#160; its&#160; investments&#160; in&#160; certain&#160; underlying&#160; investment companies.</p> 0.1830 achit <p style="font: 8pt Times New Roman, Times, Serif; text-align: left; margin-right: 0; margin-left: 0; text-indent: 0.5in">The example assumes that you invest $10,000 in the HIT for the time periods indicated and then redeem all of your Units at the end of those periods.&#160; The example also assumes that your investment has a 5% return each year and that the HIT's operating expenses remain the same.&#160; Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <div style="display: none">~ http://xbrl.sec.gov/rr/role/OperatingExpensesData column period compact * column 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link:calculationLink link:definitionLink EX-101.DEF 5 achit-20160429_def.xml EX-101.LAB 6 achit-20160429_lab.xml AFL CIO HOUSING INVESTMENT TRUST Legal Entity [Axis] AFL CIO HOUSING INVESTMENT TRUST Share Class [Axis] Barclays Capital Aggregate Bond Index (reflects no deductions for fees or expenses) Performance Measure [Axis] Document And Entity Information Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] Expense Example, With Redemption [Table] Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption [Table] Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Bar Chart Narrative [Text Block] Bar Chart [Heading] Bar Chart [Table] Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses Column [Text] Management Fees Distribution (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other Expenses Acquired Fund Fees and Expenses Total Annual HIT Operating Expenses Fee Waiver or Reimbursement Net Expenses (as a percentage of Assets) Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Expense Example, with Redemption, 1 Year Expense Example, with Redemption, 3 Years Expense Example, with Redemption, 5 Years Expense Example, with Redemption, 10 Years Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Caption Column Label ONE YEAR FIVE YEARS TEN YEARS Since Inception Inception Date Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield Expense Example, By Year, Column [Text] One Year Three Years Five Years Ten Years Expense Example, No Redemption, By Year, Column [Text] Risk/Return Detail [Table] S000009768 member. C000026832 member. Barclays capital aggregate bond index member. C000026832Member EX-101.PRE 7 achit-20160429_pre.xml XML 8 R1.htm IDEA: XBRL DOCUMENT v3.4.0.3
Document And Entity Information
Total
Document And Entity Information  
Document Type 485BPOS
Document Period End Date Dec. 31, 2015
Registrant Name AFL CIO HOUSING INVESTMENT TRUST
Central Index Key 0000225030
Amendment Flag false
Trading Symbol achit
Document Creation Date Apr. 29, 2016
Document Effective Date Apr. 29, 2016
Prospectus Date Apr. 29, 2016
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AFL CIO HOUSING INVESTMENT TRUST

AFL CIO HOUSING INVESTMENT TRUST

HIT'S OBJECTIVES

The investment objective of the American Federation of Labor and Congress of Industrial Organizations Housing Investment Trust ("HIT") is to generate competitive risk-adjusted total rates of return for its investors ("Participants") by investing in fixed-income investments, primarily multifamily and single family mortgage-backed securities and mortgage-backed obligations (collectively, "Mortgage Securities").

Other important objectives of the HIT are to encourage the construction of housing and to facilitate employment for union members in the construction trades and related industries.  To accomplish its objectives, the HIT focuses its investments in multifamily Mortgage Securities (including those that directly or indirectly finance new construction or rehabilitation of multifamily housing projects and healthcare facilities) and in Mortgage Securities backed by multifamily or single family loans.  All on-site construction work financed through the HIT's investments is required to be performed by 100% union labor.

EXPENSES OF THE HIT

This table describes the expenses that you may pay if you buy and hold units of beneficial interest in the HIT ("Units").  The HIT does not assess any sales charges (loads), redemption fees, exchange fees or any other account fees.

ANNUAL HIT OPERATING EXPENSES

(expenses that you pay each year as a percentage

of the value of your investment)

Annual Fund Operating Expenses
AFL CIO HOUSING INVESTMENT TRUST
AFL CIO HOUSING INVESTMENT TRUST
Management Fees none
Distribution (12b-1) Fees 0.02%
Other Expenses 0.42%
Total Annual HIT Operating Expenses 0.44%

The Total Annual Fund Operating Expenses in this fee table may not correlate to the expense ratio in the HIT's financial highlights and financial statements because the financial highlights and financial statements reflect only the operating expenses of the HIT and do not include Acquired Fund Fees and Expenses, which are fees and  expenses  incurred  indirectly  by  the  HIT  through  its  investments  in  certain  underlying  investment companies.

Example

This example is intended to help you compare the cost of investing in the HIT with the cost of investing in other mutual funds.

The example assumes that you invest $10,000 in the HIT for the time periods indicated and then redeem all of your Units at the end of those periods.  The example also assumes that your investment has a 5% return each year and that the HIT's operating expenses remain the same.  Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example
One Year
Three Years
Five Years
Ten Years
AFL CIO HOUSING INVESTMENT TRUST | AFL CIO HOUSING INVESTMENT TRUST | USD ($) 45 141 246 555

Portfolio Turnover

The HIT generally conducts securities transactions on a principal-to-principal basis and does not pay commissions for trades.  The HIT may incur transaction costs when it buys and sells certain securities (or "turns over" parts of its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs.  During the most recent fiscal year, the HIT's portfolio turnover rate was 18.9% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The HIT's principal investment strategy is to construct and manage a portfolio that is composed primarily of multifamily and single family mortgage-backed securities and mortgage-backed obligations (collectively, "Mortgage Securities") with higher yield, higher credit quality and similar interest rate risk versus the securities in the Barclays Capital Aggregate Bond Index (the "Barclays Aggregate").  As such, the HIT pursues a fundamental policy to concentrate in fixed-income securities in the mortgage and mortgage finance sector of the real estate industry.  The HIT holds government and agency issued, guaranteed or insured multifamily mortgage-backed securities ("MBS") that have call (or prepayment) protection, in place of corporate debt, some U.S. Treasury securities and some government-sponsored entity debt held in the Barclays Aggregate.  Since government/agency multifamily MBS offer higher yields than comparable securities with similar credit and interest rate risk, the HIT is able to offer superior risk-adjusted returns compared to the Barclays Aggregate.  All securities in which the HIT invests must meet certain requirements described in detail later in this Prospectus and in the HIT's Statement of Additional Information ("SAI").  Some types of these securities must meet certain standards of nationally recognized statistical rating organizations among other indicia of creditworthiness.  The staff monitors the HIT's investments compared with those in the Barclays Aggregate and may adjust allocations by purchasing or selling securities.  When deciding whether to buy or sell a specific security the staff compares the security to other similar securities and considers factors such as price, yield, duration and convexity (measures of interest rate sensitivity), servicer, geographic location, call or prepayment protection, as well as liquidity.  The HIT may purchase Mortgage Securities by way of forward commitments.  The HIT does not invest in Mortgage Securities that contain subprime loans.

 

The HIT uses a variety of strategies to manage risk.  These strategies include, but are not limited to, managing the duration of the HIT portfolio within a range comparable to the Barclays Aggregate, and managing prepayment risk by negotiating prepayment restrictions for Mortgage Securities backed by multifamily housing or healthcare facility projects.  The HIT seeks to minimize the risk of credit and default losses by purchasing securities that are guaranteed, insured, or otherwise credit-enhanced or that meet other criteria intended to manage risk.

PRINCIPAL INVESTMENT RISKS

There is no assurance that the HIT will meet its investment objective.  The value of the HIT's investments and the resulting value of the Units may go up or down and Participants' holdings in the HIT could gain or lose value.  As with any investment, you may lose money by investing in the HIT.  The HIT's other principal risks are those of investing in fixed-income securities, which include the following types of risks:

 

Market Risk:  The value of securities held by the HIT may fall, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political or regulatory conditions, inflation, changes in interest rates or adverse investor sentiment.

 

Interest Rate Risk:  As with any fixed-income investment, the market value of the HIT's investments will generally fall when market interest rates rise.  Rising interest rates may also reduce prepayment rates, causing the average life of certain securities of the HIT to increase, which could in turn further reduce the value of the HIT's portfolio.

 

Prepayment and Extension Risk:  Generally, the market value of the HIT's investments will rise at times when market interest rates fall.  However, at times when rates fall below the interest rates on the investments, some borrowers may prepay the HIT's fixed-income securities or their underlying mortgages more quickly than might otherwise be the case.  In such an event, the HIT may be required to reinvest the proceeds of such prepayments in other investments bearing lower interest rates than those which were prepaid.  When market interest rates rise above the interest rates of the HIT's investments, the prepayment rate of the mortgage loans backing certain HIT securities may decrease, causing the average maturity of the HIT's investments to lengthen and making these investments more sensitive to interest rate changes.  This could, in turn, further reduce the value of the HIT's portfolio and make the HIT's Unit price more volatile.

 

Credit Risk:  Credit risk is the risk of loss of principal and interest as a result of a failure of a credit enhancement backing the HIT's investments after a default on the underlying mortgage loan or other asset, a downgrading of the credit rating (or a perceived decline in the creditworthiness) of an investment or the provider of the credit enhancement for an investment, or a decline in the value of assets underlying the mortgage loan or other asset.

 

Default Risk: There is a risk that borrowers may default under the mortgage loans or other assets that directly or indirectly secure the HIT's investments.  In the event of default, the HIT may experience a loss of principal and interest and any premium value on the related securities.  This risk may be lessened to the extent that the securities are guaranteed or insured by a third party, including an agency of the U.S. government.

 

Liquidity Risk:  Markets for particular types of securities may experience issues with liquidity.  That is, a lack of buyers at a particular time could negatively impact the value of a security during such period, even though over time the payment obligations under the security may be met.  Markets for some of the types of securities in which the HIT may invest have experienced liquidity issues in the past, and its investments may experience liquidity issues in the future.

 

Leverage Risk:  The use of some investment or investing techniques may have the effect of magnifying, or leveraging, the effect of small changes in an asset, index or market.  The HIT does not leverage its portfolio through the use of borrowings or derivatives, but it may invest in forward commitments which may effectively add leverage to its portfolio.

HIT PAST PERFORMANCE

The bar chart below and the following table provide an indication of the risks of investing in the HIT by illustrating how returns can differ from one year to the next.  The table also shows how the HIT's average annual total returns for the one-, five-, and ten-year periods compared with those of a broad measure of market performance.  The HIT's past performance is not necessarily an indication of how the HIT will perform in the future.  Updated performance information is available from the HIT's website at www.aflcio-hit.com.

ANNUAL TOTAL RETURNS

(Calendar Years—Net of Operating Expenses)

Bar Chart

During the ten-year period identified in the bar chart above, the highest return for a quarter was 3.91% (quarter ended September 30, 2006) and the lowest return for a quarter was -2.48% (quarter ended June 30, 2013).

AVERAGE ANNUAL TOTAL RETURNS

(for the periods ended December 31, 2015)

Average Annual Total Returns - AFL CIO HOUSING INVESTMENT TRUST
ONE YEAR
FIVE YEARS
TEN YEARS
AFL CIO HOUSING INVESTMENT TRUST 1.13% 3.34% 4.56%
Barclays Capital Aggregate Bond Index (reflects no deductions for fees or expenses) 0.55% 3.25% 4.51%
XML 11 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2015
Registrant Name dei_EntityRegistrantName AFL CIO HOUSING INVESTMENT TRUST
Central Index Key dei_EntityCentralIndexKey 0000225030
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol achit
Document Creation Date dei_DocumentCreationDate Apr. 29, 2016
Document Effective Date dei_DocumentEffectiveDate Apr. 29, 2016
Prospectus Date rr_ProspectusDate Apr. 29, 2016
AFL CIO HOUSING INVESTMENT TRUST  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading

AFL CIO HOUSING INVESTMENT TRUST

Objective [Heading] rr_ObjectiveHeading

HIT'S OBJECTIVES

Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The investment objective of the American Federation of Labor and Congress of Industrial Organizations Housing Investment Trust ("HIT") is to generate competitive risk-adjusted total rates of return for its investors ("Participants") by investing in fixed-income investments, primarily multifamily and single family mortgage-backed securities and mortgage-backed obligations (collectively, "Mortgage Securities").

Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock

Other important objectives of the HIT are to encourage the construction of housing and to facilitate employment for union members in the construction trades and related industries.  To accomplish its objectives, the HIT focuses its investments in multifamily Mortgage Securities (including those that directly or indirectly finance new construction or rehabilitation of multifamily housing projects and healthcare facilities) and in Mortgage Securities backed by multifamily or single family loans.  All on-site construction work financed through the HIT's investments is required to be performed by 100% union labor.

Expense [Heading] rr_ExpenseHeading

EXPENSES OF THE HIT

Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the expenses that you may pay if you buy and hold units of beneficial interest in the HIT ("Units").  The HIT does not assess any sales charges (loads), redemption fees, exchange fees or any other account fees.

Operating Expenses Caption [Text] rr_OperatingExpensesCaption

ANNUAL HIT OPERATING EXPENSES

(expenses that you pay each year as a percentage

of the value of your investment)

Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading

Portfolio Turnover

Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The HIT generally conducts securities transactions on a principal-to-principal basis and does not pay commissions for trades.  The HIT may incur transaction costs when it buys and sells certain securities (or "turns over" parts of its portfolio).  A higher portfolio turnover rate may indicate higher transaction costs.  During the most recent fiscal year, the HIT's portfolio turnover rate was 18.9% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 18.30%
Expense Footnotes [Text Block] rr_ExpenseFootnotesTextBlock

The Total Annual Fund Operating Expenses in this fee table may not correlate to the expense ratio in the HIT's financial highlights and financial statements because the financial highlights and financial statements reflect only the operating expenses of the HIT and do not include Acquired Fund Fees and Expenses, which are fees and  expenses  incurred  indirectly  by  the  HIT  through  its  investments  in  certain  underlying  investment companies.

Expense Example [Heading] rr_ExpenseExampleHeading

Example

Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the HIT with the cost of investing in other mutual funds.

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption

The example assumes that you invest $10,000 in the HIT for the time periods indicated and then redeem all of your Units at the end of those periods.  The example also assumes that your investment has a 5% return each year and that the HIT's operating expenses remain the same.  Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Strategy [Heading] rr_StrategyHeading

PRINCIPAL INVESTMENT STRATEGIES

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The HIT's principal investment strategy is to construct and manage a portfolio that is composed primarily of multifamily and single family mortgage-backed securities and mortgage-backed obligations (collectively, "Mortgage Securities") with higher yield, higher credit quality and similar interest rate risk versus the securities in the Barclays Capital Aggregate Bond Index (the "Barclays Aggregate").  As such, the HIT pursues a fundamental policy to concentrate in fixed-income securities in the mortgage and mortgage finance sector of the real estate industry.  The HIT holds government and agency issued, guaranteed or insured multifamily mortgage-backed securities ("MBS") that have call (or prepayment) protection, in place of corporate debt, some U.S. Treasury securities and some government-sponsored entity debt held in the Barclays Aggregate.  Since government/agency multifamily MBS offer higher yields than comparable securities with similar credit and interest rate risk, the HIT is able to offer superior risk-adjusted returns compared to the Barclays Aggregate.  All securities in which the HIT invests must meet certain requirements described in detail later in this Prospectus and in the HIT's Statement of Additional Information ("SAI").  Some types of these securities must meet certain standards of nationally recognized statistical rating organizations among other indicia of creditworthiness.  The staff monitors the HIT's investments compared with those in the Barclays Aggregate and may adjust allocations by purchasing or selling securities.  When deciding whether to buy or sell a specific security the staff compares the security to other similar securities and considers factors such as price, yield, duration and convexity (measures of interest rate sensitivity), servicer, geographic location, call or prepayment protection, as well as liquidity.  The HIT may purchase Mortgage Securities by way of forward commitments.  The HIT does not invest in Mortgage Securities that contain subprime loans.

 

The HIT uses a variety of strategies to manage risk.  These strategies include, but are not limited to, managing the duration of the HIT portfolio within a range comparable to the Barclays Aggregate, and managing prepayment risk by negotiating prepayment restrictions for Mortgage Securities backed by multifamily housing or healthcare facility projects.  The HIT seeks to minimize the risk of credit and default losses by purchasing securities that are guaranteed, insured, or otherwise credit-enhanced or that meet other criteria intended to manage risk.

Risk [Heading] rr_RiskHeading

PRINCIPAL INVESTMENT RISKS

Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

There is no assurance that the HIT will meet its investment objective.  The value of the HIT's investments and the resulting value of the Units may go up or down and Participants' holdings in the HIT could gain or lose value.  As with any investment, you may lose money by investing in the HIT.  The HIT's other principal risks are those of investing in fixed-income securities, which include the following types of risks:

 

Market Risk:  The value of securities held by the HIT may fall, sometimes rapidly or unpredictably, due to general market conditions, such as real or perceived adverse economic, political or regulatory conditions, inflation, changes in interest rates or adverse investor sentiment.

 

Interest Rate Risk:  As with any fixed-income investment, the market value of the HIT's investments will generally fall when market interest rates rise.  Rising interest rates may also reduce prepayment rates, causing the average life of certain securities of the HIT to increase, which could in turn further reduce the value of the HIT's portfolio.

 

Prepayment and Extension Risk:  Generally, the market value of the HIT's investments will rise at times when market interest rates fall.  However, at times when rates fall below the interest rates on the investments, some borrowers may prepay the HIT's fixed-income securities or their underlying mortgages more quickly than might otherwise be the case.  In such an event, the HIT may be required to reinvest the proceeds of such prepayments in other investments bearing lower interest rates than those which were prepaid.  When market interest rates rise above the interest rates of the HIT's investments, the prepayment rate of the mortgage loans backing certain HIT securities may decrease, causing the average maturity of the HIT's investments to lengthen and making these investments more sensitive to interest rate changes.  This could, in turn, further reduce the value of the HIT's portfolio and make the HIT's Unit price more volatile.

 

Credit Risk:  Credit risk is the risk of loss of principal and interest as a result of a failure of a credit enhancement backing the HIT's investments after a default on the underlying mortgage loan or other asset, a downgrading of the credit rating (or a perceived decline in the creditworthiness) of an investment or the provider of the credit enhancement for an investment, or a decline in the value of assets underlying the mortgage loan or other asset.

 

Default Risk: There is a risk that borrowers may default under the mortgage loans or other assets that directly or indirectly secure the HIT's investments.  In the event of default, the HIT may experience a loss of principal and interest and any premium value on the related securities.  This risk may be lessened to the extent that the securities are guaranteed or insured by a third party, including an agency of the U.S. government.

 

Liquidity Risk:  Markets for particular types of securities may experience issues with liquidity.  That is, a lack of buyers at a particular time could negatively impact the value of a security during such period, even though over time the payment obligations under the security may be met.  Markets for some of the types of securities in which the HIT may invest have experienced liquidity issues in the past, and its investments may experience liquidity issues in the future.

 

Leverage Risk:  The use of some investment or investing techniques may have the effect of magnifying, or leveraging, the effect of small changes in an asset, index or market.  The HIT does not leverage its portfolio through the use of borrowings or derivatives, but it may invest in forward commitments which may effectively add leverage to its portfolio.

Risk Lose Money [Text] rr_RiskLoseMoney

As with any investment, you may lose money by investing in the HIT.

Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading

HIT PAST PERFORMANCE

Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

The bar chart below and the following table provide an indication of the risks of investing in the HIT by illustrating how returns can differ from one year to the next.  The table also shows how the HIT's average annual total returns for the one-, five-, and ten-year periods compared with those of a broad measure of market performance.  The HIT's past performance is not necessarily an indication of how the HIT will perform in the future.  Updated performance information is available from the HIT's website at www.aflcio-hit.com.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns

The bar chart below and the following table provide an indication of the risks of investing in the HIT by illustrating how returns can differ from one year to the next. 

Performance Additional Market Index [Text] rr_PerformanceAdditionalMarketIndex

The table also shows how the HIT's average annual total returns for the one-, five-, and ten-year periods compared with those of a broad measure of market performance. 

Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress

www.aflcio-hit.com.

Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture

The HIT's past performance is not necessarily an indication of how the HIT will perform in the future. 

Bar Chart [Heading] rr_BarChartHeading

ANNUAL TOTAL RETURNS

(Calendar Years—Net of Operating Expenses)

Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock

During the ten-year period identified in the bar chart above, the highest return for a quarter was 3.91% (quarter ended September 30, 2006) and the lowest return for a quarter was -2.48% (quarter ended June 30, 2013).

Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel

the highest return for a quarter

Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Sep. 30, 2006
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 3.91%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel

the lowest return for a quarter

Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Jun. 30, 2013
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (2.48%)
Performance Table Heading rr_PerformanceTableHeading

AVERAGE ANNUAL TOTAL RETURNS

(for the periods ended December 31, 2015)

Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes

Barclays Capital Aggregate Bond Index (reflects no deductions for fees or expenses)

AFL CIO HOUSING INVESTMENT TRUST | AFL CIO HOUSING INVESTMENT TRUST  
Risk Return Abstract rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets none
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.02%
Other Expenses rr_OtherExpensesOverAssets 0.42%
Total Annual HIT Operating Expenses rr_ExpensesOverAssets 0.44%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 45
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 141
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 246
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 555
Annual Return 2006 rr_AnnualReturn2006 4.65%
Annual Return 2007 rr_AnnualReturn2007 6.70%
Annual Return 2008 rr_AnnualReturn2008 5.25%
Annual Return 2009 rr_AnnualReturn2009 6.28%
Annual Return 2010 rr_AnnualReturn2010 6.16%
Annual Return 2011 rr_AnnualReturn2011 7.86%
Annual Return 2012 rr_AnnualReturn2012 4.27%
Annual Return 2013 rr_AnnualReturn2013 (2.37%)
Annual Return 2014 rr_AnnualReturn2014 6.10%
Annual Return 2015 rr_AnnualReturn2015 1.13%
ONE YEAR rr_AverageAnnualReturnYear01 1.13%
FIVE YEARS rr_AverageAnnualReturnYear05 3.34%
TEN YEARS rr_AverageAnnualReturnYear10 4.56%
AFL CIO HOUSING INVESTMENT TRUST | Barclays Capital Aggregate Bond Index (reflects no deductions for fees or expenses)  
Risk Return Abstract rr_RiskReturnAbstract  
ONE YEAR rr_AverageAnnualReturnYear01 0.55%
FIVE YEARS rr_AverageAnnualReturnYear05 3.25%
TEN YEARS rr_AverageAnnualReturnYear10 4.51%
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