NBRFX – Fund Analysis – Neuberger Real Estate Tr | Morningstar

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Will NBRFX outperform in the future?

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Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable NBRFX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar

The People Pillar is our evaluation of the NBRFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar

The Parent Pillar is our rating of NBRFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Shifting trends in the real estate industry demand more hands-on deck.

Analyst Vedran Beogradlija

Vedran Beogradlija

Analyst

Summary

A lean but experienced trio of portfolio managers shepherds Neuberger Berman Real Estate. Recent changes in the real estate industry have demanded a more hands-on approach, and the team has struggled to keep up with peers. This warrants an Average People rating, down from Above Average.

by Vedran Beogradlija

Rated on Jul 13, 2026 Published on Jul 13, 2026

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