Neuberger Berman ETF Trust - Global Real Estate ETF
NBGR
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- Neuberger Berman ETF Trust - Global Real Estate ETF (NBGR) is an actively managed exchange-traded fund that seeks total return through investment in a global portfolio of U.S. and non-U.S. equity securities issued by real estate investment trusts (REITs) and real estate-related companies; it emphasizes both current income and capital appreciation by integrating top-down macroeconomic analysis with bottom-up real estate and securities evaluation. The fund normally invests at least 80% of its net assets in such securities, with up to 20% allocated to debt securities of real estate companies, maintaining a focused portfolio of typically 50-70 holdings across sectors including residential REITs, industrial REITs, retail REITs, infrastructure REITs, health care REITs, office REITs, storage REITs, diversified REITs, and other specialty REITs; top holdings as of late 2024 include Equinix Inc., Prologis Inc., American Tower Corp., AvalonBay Communities Inc., and Simon Property Group Inc. NBGR operates within the global real estate securities segment, targeting investors seeking exposure to commercial real estate markets worldwide with geographic diversification, including approximately 64% in the United States, 7% in Japan, 6% in Australia, 5% in Canada, 4% in the United Kingdom, and smaller allocations to Hong Kong, Singapore, Belgium, Spain, and Germany. The predecessor fund, Neuberger Berman Global Real Estate Fund, was incepted on December 30, 2014, and converted to the ETF structure listing on NYSE Arca on October 16, 2023; it is managed by Neuberger Berman Investment Advisers LLC, based in New York, New York, with a net expense ratio of 0.75% and assets under management of approximately $6.5 million as of September 2024. In a significant recent development, effective November 21, 2024, the Board of Trustees of Neuberger Berman ETF Trust approved the plan to liquidate NBGR, with the fund accepting creation and redemption orders until January 9, 2025—the last trading day on NYSE Arca—followed by cessation of investment operations and distribution of liquidation proceeds on or about January 16, 2025.