Nordea 1 – Global Real Estate BP USD

This Sub-funds investment objective is to achieve long-term capital growth by investing globally in equity securities of companies that are engaged principally in the real estate industry.

iFAST Research Team
iFAST Research Team09 Sep 2026Views
Nordea 1 – Global Real Estate BP USD
2026

  • The fund manager believes a rigorous, fundamentally-driven investment process produces superior performance over time, focusing on high-quality owner-operators of real estate that offer durable cash flows and attractive risk-adjusted returns.
  • The fund manager avoids mortgage REITs, home builders, merchant builders and real estate technology companies, screening for companies with a market capitalisation of USD 1 billion or more. Its style is best described as relative value, emphasising relative valuations within each sector rather than a pure value or growth approach.
  • The fund is benchmark-aware via the FTSE EPRA NAREIT Developed Index (Net), which forms the initial screening universe but does not constrain holdings.
  • The fund has the largest overweight position in the data centres and healthcare and typically holds 50 to 70 securities.
  • Looking ahead, the fund manager favours property sectors such as healthcare and data centres. Data centres offer a multi-year secular growth story amidst constrained new supply, while senior housing benefits from demographic tailwinds and limited supply.

Fund Investment Style

Source: Bloomberg Finance L.P., iFAST Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026

Recommended fund

3-year annualised return

3-year maximum drawdown

3-year downside deviation

3-year Sortino ratio

Nordea 1 – Global Real Estate BP USD

4.8%

-35.2%

8.7%

0.26

Peer Average

3.8%

-31.4%

9.8%

0.20

Source: Bloomberg Finance L.P., iFAST Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026

About the Fund Managers

The Fund is sub-managed by Duff & Phelps Investment Management Co., co-managed by Geoffrey Dybas, CFA, Senior Portfolio Manager and Head of Real Estate, and Frank Haggerty, Jr., CFA, Senior Portfolio Manager, both of whom have managed the strategy since its 2009 inception and have overseen the Fund since June 2019, supported by 7 additional research analysts, based in Chicago. 

The team's investment philosophy centres on rigorous, fundamentally driven research, with a focus on high-quality owner-operators of real estate offering durable cash flows and attractive risk-adjusted returns. Security selection follows a relative-value approach, emphasising strong management teams capable of consistently growing cash flow through value-creating activities, supported by active management and patience.

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