Neuberger Berman Real Estate Fund Trust Class
NBRFX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Real Estate
- Industry
- Real Estate - General
- Address
- 1290 Avenue Of The Americas New York NY United States of America 10104
- IPO Date
- May 2, 2002
- CIK
- 0000044402
- Website
- nb.com
- Similar Companies
- Business
- Neuberger Berman Real Estate Fund Trust Class (NBRFX) is an open-end mutual fund that seeks total return through investment in real estate securities, emphasizing both capital appreciation and current income. 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, defined as those deriving at least 50% of revenue from or having at least 50% of assets in real estate; it may invest up to 20% in debt securities of real estate companies rated at least B or comparable quality. It maintains a high-conviction, actively managed portfolio across diverse property types including apartments, health care, industrial, infrastructure, offices, regional malls, self-storage, single-family homes, telecommunications, and manufactured homes, with top holdings such as Prologis Inc., Equinix Inc., American Tower Corp., AvalonBay Communities Inc., and Welltower Inc.; the Fund is non-diversified and concentrates in the real estate industry. Launched on May 1, 2002, and domiciled in the United States with total net assets of approximately $726 million, it is managed by Neuberger Berman Investment Advisers LLC from headquarters in New York. The Fund features multiple share classes including Institutional Class (NBRIX), Class A (NREAX), Class C (NRECX), Class R6 (NRREX), Class R3 (NRERX), and Trust Class (NBRFX), with a net expense ratio of 1.39% for Trust Class and a portfolio turnover rate of 53%; Trust Class shares are closed to new investors except for certain eligible purchasers. Portfolio managers Steve Shigekawa (since 2005), Brian Jones (since 2008), and Archena Alagappan (since April 2024) employ a fundamental analysis process integrating real estate and securities evaluation, considering financially material ESG factors alongside traditional metrics. Recent updates include a prospectus dated December 18, 2024, detailing expense caps through August 31, 2028 (e.g., 1.50% for Trust Class), and an October 2025 manager commentary highlighting sector overweights in telecommunications, manufactured homes, health care, single-family homes, apartments, self-storage, and shopping centers amid market volatility and macroeconomic shifts like potential tariffs and interest rate changes. The Fund outperformed its FTSE NAREIT All Equity REITs Index benchmark in October 2025 despite negative returns, driven by stock selection in health care and free-standing retail sectors. It operates primarily in U.S. markets, targeting investors seeking real estate exposure through a blend investment style focused on mid-cap securities.