Neuberger Berman Real Estate Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
10.2%
1 yr return
30.7%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
4.2%
Net Assets
$718 M
Holdings in Top 10
56.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.66%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 22.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NRERX - Profile
Distributions
- YTD Total Return 10.2%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 4.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.98%
- Dividend Yield 1.4%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameNeuberger Berman Real Estate Fund
-
Fund Family NameNeuberger Berman
-
Inception DateJun 21, 2010
-
Shares OutstandingN/A
-
Share ClassR3
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerSteve Shigekawa
Fund Description
To pursue its goal, the Fund normally invests at least 80% of its net assets in equity securities issued by real estate investment trusts (“REITs”) and common stocks and other securities issued by other real estate companies. The Fund defines a real estate company as one that derives at least 50% of its revenue from, or has at least 50% of its assets in, real estate.
The Fund may invest up to 20% of its net assets in debt securities of real estate companies. These debt securities can be either investment grade securities or below investment grade securities (commonly known as “junk bonds”), provided that, at the time of investment, they are rated at least B by S&P Global Ratings or Moody’s Investors Service, Inc. (or comparably rated by at least one independent credit rating agency) or, if unrated, are determined by the Portfolio Managers to be of comparable quality. The Fund does not normally intend to continue holding securities that are in default or have defaulted with respect to the payment of interest or repayment of principal, but may do so depending on market conditions.
The Portfolio Managers make investment decisions through a fundamental analysis of each company. The Portfolio Managers review each company’s current financial condition and industry position, as well as economic and market conditions. In doing so, they evaluate the company’s growth potential, earnings estimates and quality of management, as well as other factors. In an effort to achieve its goal, the Fund may engage in active and frequent trading.
As part of their fundamental investment analysis the Portfolio Managers consider Environmental, Social and Governance (ESG) factors they believe are financially material to individual investments, where applicable, as described below. While this analysis is inherently subjective and may be informed by both internally generated and third-party metrics, data and other information, the Portfolio Managers believe that the consideration of financially material ESG factors, alongside traditional financial metrics, may enhance the Fund’s overall investment process. The consideration of ESG factors does not apply to certain instruments, such as certain derivative instruments, other registered investment companies, cash and cash equivalents. The consideration of ESG factors as part of the investment process does not mean that the Fund pursues a specific “impact” or “sustainable” investment strategy.
The Fund is a non-diversified fund, which means that it can invest more of its assets in fewer companies than a diversified fund. The Fund concentrates its assets in the real estate industry. The Fund may at times emphasize particular sub-sectors of the real estate business — for example, apartments, regional malls, offices, infrastructure, industrial, and health care.
Some of the REITs and other real estate securities in which the Fund invests may be preferred stock, which receives preference in the payment of dividends.
The Fund normally seeks to invest for the long-term, but it may sell securities regardless of how long they have been held if the Portfolio Managers find an opportunity they believe is more compelling, or if the Portfolio Managers’ outlook on the company or the market changes, if a stock reaches a target price, if a company’s business fails to perform as expected, or when other opportunities appear more attractive.
The Fund will not change its strategy of normally investing at least 80% of its net assets in equity securities issued by REITs and common stocks and other securities issued by other real estate companies, without providing shareholders at least 60 days’ notice. This test and the test of whether a company is a real estate company are applied at the time the Fund invests; later percentage changes caused by a change in Fund assets, market values or company circumstances will not require the Fund to dispose of a holding.
NRERX - Performance
Return Ranking - Trailing
Period | NRERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.2% | -10.9% | 21.9% | 53.52% |
1 Yr | 30.7% | -9.4% | 41.6% | 27.73% |
3 Yr | -0.3%* | -12.1% | 5.3% | 67.32% |
5 Yr | 4.2%* | -11.8% | 15.3% | 46.19% |
10 Yr | 7.0%* | -2.2% | 14.9% | 33.73% |
* Annualized
Return Ranking - Calendar
Period | NRERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.2% | -17.6% | 24.6% | 36.19% |
2022 | -35.2% | -51.3% | 2.7% | 80.08% |
2021 | 36.0% | -7.7% | 52.3% | 23.90% |
2020 | -3.5% | -42.2% | 35.0% | 9.66% |
2019 | 24.9% | -0.8% | 43.1% | 18.61% |
Total Return Ranking - Trailing
Period | NRERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.2% | -10.9% | 21.9% | 53.52% |
1 Yr | 30.7% | -9.4% | 41.6% | 27.73% |
3 Yr | -0.3%* | -12.1% | 5.3% | 67.32% |
5 Yr | 4.2%* | -11.8% | 15.3% | 46.19% |
10 Yr | 7.0%* | -2.2% | 14.9% | 33.73% |
* Annualized
Total Return Ranking - Calendar
Period | NRERX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.3% | -14.0% | 25.0% | 57.98% |
2022 | -27.5% | -40.7% | 7.8% | 71.48% |
2021 | 41.3% | 7.8% | 54.6% | 44.22% |
2020 | -1.8% | -36.6% | 44.3% | 21.01% |
2019 | 31.1% | 3.4% | 46.4% | 16.02% |
NAV & Total Return History
NRERX - Holdings
Concentration Analysis
NRERX | Category Low | Category High | NRERX % Rank | |
---|---|---|---|---|
Net Assets | 718 M | 1.39 M | 61.4 B | 33.60% |
Number of Holdings | 32 | 22 | 519 | 86.05% |
Net Assets in Top 10 | 389 M | 1.29 M | 32.8 B | 38.37% |
Weighting of Top 10 | 56.46% | 13.2% | 90.0% | 44.96% |
Top 10 Holdings
- American Tower Corp 9.31%
- Prologis Inc 7.24%
- Equinix Inc 7.08%
- Public Storage 6.47%
- AvalonBay Communities Inc 5.88%
- Simon Property Group Inc 4.73%
- Welltower Inc 4.59%
- Iron Mountain Inc 3.76%
- Extra Space Storage Inc 3.74%
- Realty Income Corp 3.67%
Asset Allocation
Weighting | Return Low | Return High | NRERX % Rank | |
---|---|---|---|---|
Stocks | 99.20% | 0.00% | 105.52% | 32.95% |
Cash | 0.80% | -42.50% | 19.87% | 65.50% |
Preferred Stocks | 0.00% | 0.00% | 31.13% | 79.46% |
Other | 0.00% | -89.90% | 107.80% | 75.97% |
Convertible Bonds | 0.00% | 0.00% | 10.95% | 75.88% |
Bonds | 0.00% | -3.17% | 155.83% | 76.36% |
Stock Sector Breakdown
Weighting | Return Low | Return High | NRERX % Rank | |
---|---|---|---|---|
Real Estate | 98.39% | 34.46% | 100.00% | 62.70% |
Financial Services | 1.61% | 0.00% | 37.05% | 7.38% |
Utilities | 0.00% | 0.00% | 3.55% | 75.00% |
Technology | 0.00% | 0.00% | 12.02% | 72.95% |
Industrials | 0.00% | 0.00% | 7.39% | 77.05% |
Healthcare | 0.00% | 0.00% | 0.53% | 75.00% |
Energy | 0.00% | 0.00% | 33.11% | 75.82% |
Communication Services | 0.00% | 0.00% | 11.61% | 78.28% |
Consumer Defense | 0.00% | 0.00% | 0.93% | 75.00% |
Consumer Cyclical | 0.00% | 0.00% | 45.29% | 82.79% |
Basic Materials | 0.00% | 0.00% | 13.69% | 75.82% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | NRERX % Rank | |
---|---|---|---|---|
US | 99.20% | 0.00% | 105.52% | 29.07% |
Non US | 0.00% | 0.00% | 37.90% | 77.52% |
NRERX - Expenses
Operational Fees
NRERX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.66% | 0.07% | 28.75% | 32.55% |
Management Fee | 1.06% | 0.00% | 1.50% | 88.37% |
12b-1 Fee | 0.50% | 0.00% | 1.00% | 73.23% |
Administrative Fee | 0.26% | 0.01% | 0.45% | 86.30% |
Sales Fees
NRERX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
NRERX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
NRERX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 22.00% | 0.11% | 380.00% | 22.18% |
NRERX - Distributions
Dividend Yield Analysis
NRERX | Category Low | Category High | NRERX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.43% | 0.00% | 13.03% | 75.97% |
Dividend Distribution Analysis
NRERX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
NRERX | Category Low | Category High | NRERX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.98% | -1.14% | 6.05% | 53.73% |
Capital Gain Distribution Analysis
NRERX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Semi-Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 23, 2024 | $0.053 | OrdinaryDividend |
Mar 21, 2024 | $0.057 | OrdinaryDividend |
Dec 18, 2023 | $0.042 | OrdinaryDividend |
Sep 22, 2023 | $0.057 | OrdinaryDividend |
Jun 23, 2023 | $0.071 | OrdinaryDividend |
Mar 24, 2023 | $0.064 | OrdinaryDividend |
Dec 16, 2022 | $1.340 | OrdinaryDividend |
Sep 23, 2022 | $0.050 | OrdinaryDividend |
Jun 23, 2022 | $0.052 | OrdinaryDividend |
Mar 24, 2022 | $0.050 | OrdinaryDividend |
Dec 15, 2021 | $0.536 | OrdinaryDividend |
Sep 23, 2021 | $0.044 | OrdinaryDividend |
Jun 23, 2021 | $0.048 | OrdinaryDividend |
Mar 24, 2021 | $0.065 | OrdinaryDividend |
Dec 14, 2020 | $0.054 | OrdinaryDividend |
Dec 14, 2020 | $0.034 | CapitalGainLongTerm |
Sep 23, 2020 | $0.043 | OrdinaryDividend |
Jun 23, 2020 | $0.050 | OrdinaryDividend |
Mar 24, 2020 | $0.047 | OrdinaryDividend |
Dec 16, 2019 | $0.529 | OrdinaryDividend |
Sep 23, 2019 | $0.052 | OrdinaryDividend |
Jun 21, 2019 | $0.056 | OrdinaryDividend |
Mar 22, 2019 | $0.066 | OrdinaryDividend |
Dec 17, 2018 | $0.032 | OrdinaryDividend |
Dec 17, 2018 | $0.574 | CapitalGainLongTerm |
Sep 21, 2018 | $0.055 | OrdinaryDividend |
Jun 22, 2018 | $0.058 | OrdinaryDividend |
Mar 22, 2018 | $0.044 | OrdinaryDividend |
Dec 15, 2017 | $0.059 | OrdinaryDividend |
Dec 15, 2017 | $0.046 | CapitalGainShortTerm |
Dec 15, 2017 | $0.520 | CapitalGainLongTerm |
Sep 22, 2017 | $0.054 | OrdinaryDividend |
Jun 23, 2017 | $0.062 | OrdinaryDividend |
Mar 24, 2017 | $0.049 | OrdinaryDividend |
Dec 16, 2016 | $0.081 | OrdinaryDividend |
Dec 16, 2016 | $0.316 | CapitalGainShortTerm |
Dec 16, 2016 | $1.220 | CapitalGainLongTerm |
Sep 23, 2016 | $0.082 | OrdinaryDividend |
Jun 23, 2016 | $0.058 | OrdinaryDividend |
Mar 23, 2016 | $0.049 | OrdinaryDividend |
Dec 17, 2015 | $0.080 | OrdinaryDividend |
Dec 17, 2015 | $0.960 | CapitalGainLongTerm |
Sep 23, 2015 | $0.067 | OrdinaryDividend |
Jun 23, 2015 | $0.067 | OrdinaryDividend |
Mar 24, 2015 | $0.052 | OrdinaryDividend |
Dec 15, 2014 | $0.098 | OrdinaryDividend |
Dec 15, 2014 | $0.020 | CapitalGainShortTerm |
Dec 15, 2014 | $0.557 | CapitalGainLongTerm |
Sep 24, 2014 | $0.058 | OrdinaryDividend |
Jun 23, 2014 | $0.059 | OrdinaryDividend |
Mar 24, 2014 | $0.047 | OrdinaryDividend |
Dec 16, 2013 | $0.069 | OrdinaryDividend |
Dec 16, 2013 | $0.028 | CapitalGainShortTerm |
Dec 16, 2013 | $0.675 | CapitalGainLongTerm |
Sep 23, 2013 | $0.047 | OrdinaryDividend |
Jun 21, 2013 | $0.055 | OrdinaryDividend |
Mar 22, 2013 | $0.044 | OrdinaryDividend |
Dec 14, 2012 | $0.242 | CapitalGainLongTerm |
Dec 14, 2012 | $0.071 | OrdinaryDividend |
Dec 14, 2012 | $0.002 | CapitalGainShortTerm |
Sep 21, 2012 | $0.045 | OrdinaryDividend |
Jun 22, 2012 | $0.043 | OrdinaryDividend |
Mar 23, 2012 | $0.056 | OrdinaryDividend |
Dec 16, 2011 | $0.060 | OrdinaryDividend |
Sep 23, 2011 | $0.046 | OrdinaryDividend |
Jun 23, 2011 | $0.046 | OrdinaryDividend |
Mar 24, 2011 | $0.041 | OrdinaryDividend |
Dec 20, 2010 | $0.034 | OrdinaryDividend |
Sep 30, 2010 | $0.041 | OrdinaryDividend |
NRERX - Fund Manager Analysis
Managers
Steve Shigekawa
Start Date
Tenure
Tenure Rank
Dec 31, 2005
16.42
16.4%
Steve Shigekawa, Managing Director, joined the firm in 2002. Steve is a Co-Portfolio Manager for the Real Estate Securities group. He has been a Portfolio Manager with the firm since 2005. Prior to that, he was an analyst with the firm covering REIT securities. .Previously, he was a research associate at Prudential Securities, an intern at Cohen & Steers Capital Management, and an associate at Wilshire Associates, where he spent four years. He received a BA from the University of California at Los Angeles and an MBA from New York University.
Brian Jones
Start Date
Tenure
Tenure Rank
Oct 24, 2008
13.61
13.6%
Brian C. Jones, CFA, Managing Director, joined the firm in 1999. Brian is a Co-Portfolio Manager for the Real Estate Securities group. Previously, he was a research associate at UBS Warburg, Thornton Investment Management and The Dreyfus Corporation, where he began his career in 1993. Brian received a BA from Harvard University. He has also been awarded the Chartered Financial Analyst designation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 28.42 | 8.16 | 2.68 |