What are the best funds to invest in real estate?
Updated:
5 FEB, 2026
By Joanna Piwko from RankiaPro Europe
Investing in the real estate sector is one of the favorite options of European managers and investors. On this occasion, we have chosen to analyze the best funds to invest in real estate, according to data obtained from Morningstar.
For this, we have selected the funds that invest in the real estate sector that have performed the best in the last three years within the categories of Property - Direct Global and Property - Indirect Global in euros.
What are the best real estate funds in euros?
Global BR FIL Student Residences
The Global BR FIL Student Residences fund allocates almost 100% of its total exposure to the E class shares of the GSA Coral Student Portfolio compartment (hereinafter, the underlying fund), integrated into GSA Coral Portfolio S.C.A. SICAV-SIF, a Luxembourg entity constituted under the figure of Specialized Investment Fund (SIF). Therefore, the vehicle is not supervised by the CNMV.
The investment objective of GSA Coral is to achieve long-term capital growth by primarily investing in a diversified portfolio of assets in the student housing rental sector worldwide, mainly in various regions of the G20 countries. The PBSA sector is underpinned by global demand for higher education and is driven by a fundamental imbalance between supply and demand in the world's main university markets.
GSA Coral offers a unique opportunity to gain immediate investment access to a market-leading and globally diversified PBSA asset portfolio, in 69 of the main higher education cities in the UK, USA, Ireland, Spain, Germany, Australia and Japan.
This strategy promotes environmental and/or social characteristics, in accordance with the provisions of Article 8 of the SFDR Regulation.
On the other hand, if we look at the Property - Indirect Global category of Morningtar, the following investment funds from the managers GVC Gaesco Gestión, PGIM and Morgan Stanley IM stand out. All vehicles have had a positive performance over the last three years.
GVC Gaesco Opportunity Real Estate Companies RV, FI
The GVC Gaesco Opportunity Real Estate Companies R.V., FI fund, managed by Josep Monsó, seeks to capture value through the cyclical divergence of the real estate sector globally, identifying markets that are in different phases of the cycle. It prioritizes capital allocation in countries located in the lower part of the cycle (valley), with potential for recovery and improvement of fundamentals, as well as in those in an expansive phase, avoiding as much as possible geographies with signs of overvaluation or overheating.
The portfolio is mainly concentrated in property companies (owners and managers of real estate assets) with diversified exposure to different segments: residential, logistics, data centers, offices, retail, senior residences, student residences, among others. These companies generate recurring income mainly through the collection of rents associated with the leasing of these properties.
PGIM Global Select Real Estate Securities
The PGIM Global Select Real Estate Securities fund, co-managed by Michael Gallagher and Daniel Cooney, aims for long-term capital appreciation. To this end, it invests in equity and equity-linked instruments issued by global real estate sector companies.
The management team applies a value approach, based on the analysis of the intrinsic value of the underlying real estate assets, as well as on the evaluation of historical performance, execution capacity and strategic consistency of the management teams of the selected companies. Additionally, the selection process incorporates the study of the quality and resilience of the cash flows generated by the assets, along with the analysis of the dividend policy, paying special attention to its sustainability and growth potential.
The fund integrates ESG (environmental, social and governance) criteria within the investment process and promotes certain sustainability characteristics. In this sense, PGIM Real Estate classifies the product as a "Light Green Fund", in line with the requirements of Article 8 of the SFDR, as it is a vehicle that promotes environmental and/or social characteristics.
Morgan Stanley Investment Funds - QuantActive Global Property
The MSINVF QuantActive Global Property Fund, co-managed by Mehdi Barone, Emmanuel Caro, CFA and Celine Karanci, invests at least 70% of its portfolio in shares of companies, including real estate investment funds (REIT) and collective investment vehicles related to the real estate sector.
Its investment policy is clear: to invest in real estate sector companies located anywhere in the world. This includes funds such as Real Estate Investment Trusts (REIT) and property unit trusts listed on public markets.
The management team uses fundamental analysis to identify companies whose values may offer the best potential for profitability, based on a multi-level filtering process. Among the factors to consider are, among others, trend, valuation and market capitalization. In addition, it incorporates accounting and valuation assessments to identify the shares that will be included in the portfolio.
Morgan Stanley IM actively integrates sustainability into the investment process by assessing the main ESG risks and opportunities in the bottom-up stock selection process, mainly leveraging external ESG data providers to evaluate and quantify the ESG performance of issuers. The vehicle includes exclusions related to tobacco, climate, and weapons.
