Neuberger Berman Global Real Estate Fund
Name
As of 10/13/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-8.6%
1 yr return
3.6%
3 Yr Avg Return
-2.1%
5 Yr Avg Return
2.0%
Net Assets
$2.63 M
Holdings in Top 10
35.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 7.96%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 51.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/13/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NGRIX - Profile
Distributions
- YTD Total Return -8.6%
- 3 Yr Annualized Total Return -2.1%
- 5 Yr Annualized Total Return 2.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.41%
- Dividend Yield 1.0%
- Dividend Distribution Frequency Quarterly
Fund Details
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Legal NameNeuberger Berman Global Real Estate Fund
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Fund Family NameNeuberger Berman
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Inception DateDec 30, 2014
-
Shares OutstandingN/A
-
Share ClassInstl
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CurrencyUSD
-
Domiciled CountryUS
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ManagerSteve Shigekawa
Fund Description
To pursue its goal, the Fund normally invests at least 80% of its net assets in U.S. and non-U.S. equity securities issued by real estate investment trusts (“REITs”) and common stocks and other securities issued by other real estate companies, including rights and warrants, and convertible and preferred securities. The Fund defines a real estate company as one that derives at least 50% of its revenue or profits from real estate, or has at least 50% of its assets invested in real estate.
Under normal market conditions, the Fund will invest at least 40% of its total assets (unless market conditions are not deemed favorable by the Portfolio Managers, in which case the Fund would invest at least 30% of its total assets) in securities that (a) are organized or located outside the U.S., (b) trade primarily in a market located outside the U.S., or (c) derive at least 50% of their revenue or profits from business outside the U.S. or have at least 50% of their assets outside the U.S. The Fund will allocate its assets among various regions and countries, including the United States. The Fund is not limited in the extent to which it may invest in real estate equity securities of companies domiciled in emerging market countries. The Fund may also invest in securities of foreign companies in the form of depositary receipts. The Fund generally will invest in convertible securities only if, in the view of the Portfolio Managers, the conversion feature represents a significant element of the securities’ value.
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 or below investment grade (commonly known as “junk bonds”), provided that, at the time of purchase, they are rated at least B by S&P Global Ratings or Moody’s Investor Service (or comparably rated by at least one independent credit rating agency) or, if unrated by either of these, determined by the Portfolio Managers to be of comparable quality. The Fund does not normally continue to hold 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 Fund may invest in companies across all market capitalizations.
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. 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, 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.
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 will not change its strategy of normally investing at least 80% of its net assets in U.S. and non-U.S. 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 market values or company circumstances will not require the Fund to dispose of a holding.
NGRIX - Performance
Return Ranking - Trailing
Period | NGRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.6% | -17.8% | 7.3% | 97.37% |
1 Yr | 3.6% | -19.5% | 7.1% | 3.16% |
3 Yr | -2.1%* | -12.8% | 21.6% | 69.61% |
5 Yr | 2.0%* | -7.7% | 16.6% | 32.22% |
10 Yr | N/A* | -3.4% | 5.3% | N/A |
* Annualized
Return Ranking - Calendar
Period | NGRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -28.9% | -43.9% | 4.5% | 61.62% |
2022 | 19.3% | -13.9% | 30.7% | 55.80% |
2021 | -4.5% | -20.7% | 13.7% | 33.70% |
2020 | 20.7% | 1.0% | 26.5% | 18.89% |
2019 | -7.7% | -27.7% | -6.4% | 22.89% |
Total Return Ranking - Trailing
Period | NGRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.6% | -17.8% | 7.3% | 97.37% |
1 Yr | 3.6% | -19.5% | 7.1% | 3.16% |
3 Yr | -2.1%* | -12.8% | 21.6% | 69.61% |
5 Yr | 2.0%* | -7.7% | 16.6% | 32.22% |
10 Yr | N/A* | -3.4% | 5.3% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | NGRIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -24.0% | -39.5% | 10.1% | 18.38% |
2022 | 28.1% | 5.7% | 101.8% | 30.94% |
2021 | -2.8% | -17.8% | 14.7% | 38.12% |
2020 | 26.6% | 6.7% | 37.2% | 28.33% |
2019 | -4.3% | -20.1% | -3.1% | 21.69% |
NAV & Total Return History
NGRIX - Holdings
Concentration Analysis
NGRIX | Category Low | Category High | NGRIX % Rank | |
---|---|---|---|---|
Net Assets | 2.63 M | 2.63 M | 9.6 B | 100.00% |
Number of Holdings | 53 | 5 | 685 | 84.02% |
Net Assets in Top 10 | 1.01 M | 1.01 M | 6.34 B | 100.00% |
Weighting of Top 10 | 35.29% | 18.2% | 64.1% | 67.88% |
Top 10 Holdings
- Prologis Inc 4.98%
- American Tower Corp 4.74%
- Public Storage 4.55%
- Crown Castle Inc 3.37%
- State Street Institutional US Government Money Market Fund 3.21%
- Realty Income Corp 3.04%
- Mitsui Fudosan Co Ltd 2.99%
- Region RE Ltd 2.86%
- Welltower Inc 2.80%
- UOL Group Ltd 2.75%
Asset Allocation
Weighting | Return Low | Return High | NGRIX % Rank | |
---|---|---|---|---|
Stocks | 97.00% | 2.78% | 126.54% | 86.08% |
Cash | 3.30% | 0.00% | 21.55% | 22.16% |
Preferred Stocks | 0.00% | 0.00% | 7.77% | 80.93% |
Other | 0.00% | -33.49% | 102.40% | 76.29% |
Convertible Bonds | 0.00% | 0.00% | 0.07% | 75.65% |
Bonds | 0.00% | 0.00% | 25.38% | 79.38% |
Stock Sector Breakdown
Weighting | Return Low | Return High | NGRIX % Rank | |
---|---|---|---|---|
Real Estate | 97.16% | 72.53% | 100.00% | 48.15% |
Financial Services | 1.77% | 0.00% | 9.53% | 4.76% |
Communication Services | 1.07% | 0.00% | 10.08% | 30.16% |
Utilities | 0.00% | 0.00% | 0.96% | 78.84% |
Technology | 0.00% | 0.00% | 4.92% | 85.71% |
Industrials | 0.00% | 0.00% | 4.91% | 82.01% |
Healthcare | 0.00% | 0.00% | 1.54% | 79.37% |
Energy | 0.00% | 0.00% | 0.11% | 77.78% |
Consumer Defense | 0.00% | 0.00% | 0.18% | 79.37% |
Consumer Cyclical | 0.00% | 0.00% | 13.03% | 93.65% |
Basic Materials | 0.00% | 0.00% | 1.63% | 78.84% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | NGRIX % Rank | |
---|---|---|---|---|
US | 56.09% | 0.00% | 99.78% | 73.20% |
Non US | 40.91% | 0.00% | 98.94% | 25.26% |
NGRIX - Expenses
Operational Fees
NGRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 7.96% | 0.11% | 33.59% | 3.09% |
Management Fee | 0.95% | 0.09% | 1.50% | 92.23% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.15% | 0.01% | 0.25% | 94.83% |
Sales Fees
NGRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
NGRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 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.
NGRIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 51.00% | 1.00% | 165.00% | 44.86% |
NGRIX - Distributions
Dividend Yield Analysis
NGRIX | Category Low | Category High | NGRIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.96% | 0.00% | 4.95% | 84.02% |
Dividend Distribution Analysis
NGRIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
NGRIX | Category Low | Category High | NGRIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.41% | -0.23% | 3.84% | 47.37% |
Capital Gain Distribution Analysis
NGRIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 26, 2022 | $0.071 | OrdinaryDividend |
Jun 24, 2022 | $0.079 | OrdinaryDividend |
Mar 25, 2022 | $0.064 | OrdinaryDividend |
Sep 24, 2021 | $0.060 | OrdinaryDividend |
Jun 24, 2021 | $0.062 | OrdinaryDividend |
Mar 25, 2021 | $0.062 | OrdinaryDividend |
Sep 24, 2020 | $0.052 | OrdinaryDividend |
Jun 24, 2020 | $0.061 | OrdinaryDividend |
Mar 25, 2020 | $0.058 | OrdinaryDividend |
Sep 24, 2019 | $0.055 | OrdinaryDividend |
Jun 24, 2019 | $0.063 | OrdinaryDividend |
Mar 25, 2019 | $0.065 | OrdinaryDividend |
Sep 24, 2018 | $0.048 | OrdinaryDividend |
Jun 25, 2018 | $0.075 | OrdinaryDividend |
Mar 23, 2018 | $0.052 | OrdinaryDividend |
Sep 25, 2017 | $0.046 | OrdinaryDividend |
Jun 26, 2017 | $0.057 | OrdinaryDividend |
Mar 27, 2017 | $0.049 | OrdinaryDividend |
Sep 26, 2016 | $0.060 | OrdinaryDividend |
Jun 24, 2016 | $0.061 | OrdinaryDividend |
Mar 24, 2016 | $0.052 | OrdinaryDividend |
Dec 18, 2015 | $0.061 | OrdinaryDividend |
Sep 24, 2015 | $0.044 | OrdinaryDividend |
Jun 24, 2015 | $0.053 | OrdinaryDividend |
NGRIX - Fund Manager Analysis
Managers
Steve Shigekawa
Start Date
Tenure
Tenure Rank
Dec 30, 2014
7.42
7.4%
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.
Anton Kwang
Start Date
Tenure
Tenure Rank
Dec 30, 2014
7.42
7.4%
Anton Kwang, CFA, joined Neuberger Berman Asia Limited in 2014. Previously, he was the lead portfolio manager for the Asia Pacific region of Standard Life Investment’s global property funds in Hong Kong, and senior portfolio manager (Asia) at Perennial Investment Partners, and director and head of regional property research at ABN AMRO Bank. Anton received a BS from The University of Hong Kong. He has been awarded the Chartered Financial Analyst designation.
Brian Jones
Start Date
Tenure
Tenure Rank
Dec 30, 2014
7.42
7.4%
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 |
---|---|---|---|
0.09 | 20.42 | 7.05 | 10.42 |