Global Real Estate Securities Commentary 1Q 2024
In the first quarter of 2024, REITs gave back a portion of their large, fourth-quarter 2023 gains as investors worried about the pace of interest rate cuts.
Offering portfolios of publicly traded real estate companies to meet the needs of investors, with awards* for top-ranking funds.
In the first quarter of 2024, REITs gave back a portion of their large, fourth-quarter 2023 gains as investors worried about the pace of interest rate cuts.
CASE STUDY: PGIM Real Estate worked closely with a large Australian superannuation fund to understand their needs and proposed a REIT completion strategy.
The macroeconomic backdrop for REITS in 2023 was volatile, as investors struggled with uncertainty around interest rates, inflation and economic growth.
Objective
Capital appreciation and income
Construction
Unconstrained, concentrated portfolio of global real estate securities
Solutions
Strategies offered through separate accounts and mutual funds. Learn more about the mutual fund managed by our affiliate, PGIM Investments.
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Objective
Income and capital appreciation
Construction
Diversified, global portfolio of real estate securities
Solutions
Strategies offered through separate accounts and mutual funds. Learn more about the mutual fund managed by our affiliate, PGIM Investments.
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Objective
Capital appreciation and income
Construction
Diversified, U.S. portfolio of real estate securities
Solutions
Strategies offered through separate accounts and mutual funds. Learn more about the mutual fund managed by our affiliate, PGIM Investments.
2024 LSEG Lipper Award
#1 Real Estate Fund for the 3-year period
(Reference award details below. Participation in the ranking is voluntary and no compensation is required to participate).
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Objective
Income
Construction
Global portfolio of yield-oriented real estate and preferred securities
Solutions
Strategies offered through separate accounts and mutual funds. Learn more about the mutual fund managed by our affiliate, PGIM Investments.
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*As of December 31, 2023. Gross AUM is equal to Net AUM.
PGIM Global Select Real Estate Fund (USD A Acc) #1 Equity Sector Real Estate Global Category (Europe 2023) out of 45 funds for the 3-year period ended 31 December 2022. Inception date: 8 April 2016. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. Lipper Leaders fund ratings do not constitute and are not intended to constitute investment advice or an offer to sell or the solicitation of an offer to buy any security of any entity in any jurisdiction. For more information, see lipperfundawards.com. Rankings do not take sales charges into account. Past performance is no guarantee of future results. From Lipper Fund Awards from Refinitiv, ©2023 Refinitiv. All rights reserved. Used under license.
PGIM U.S. Real Estate Fund #1 Real Estate Fund (Class Z) for the 3-year period out of 200 funds, respectively ended 11/30/2023.
Class Z total return ranking for the 1-year period: 20 out of 243 funds; 5-year period: 10 out of 213 funds; 10-year period: 10 out of 150 as of 11/30/2023. Inception date: Class Z: 12/21/2010. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. Lipper total return ranking for the 1-, 3-, 5- and 10-year periods as of 12/31/2023 for the Real Estate Fund category were: 19 out of 242, 5 out of 231, 9 out of 213, and 11 out of 153 funds, respectively. Past performance is no guarantee of future results.
The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed. LSEG Lipper Fund Awards, ©2024 LSEG. All rights reserved. Used under license.
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectuses and summary prospectuses contain this and other information about the funds. For more information about a fund, please click ‘About the fund,’ which will take you to the broker-dealer site . Read them carefully before investing.
Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS). PGIM Real Estate is a unit of PGIM, Inc. (PGIM), a registered investment advisor. PIMS and PGIM are Prudential Financial companies. ©2024 Prudential Financial, Inc. and its related entities. PGIM Real Estate, PGIM, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
Mutual funds are not insured by the FDIC or any federal government agency, are not a deposit of or guaranteed by any bank or any bank affiliate, and may lose value.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.