DPAM Real Estate Europe Sustainable
Real Estate · Europe · Listed Real Estate
Figures refer to the share class ISIN BE6246059354, currency EUR, retail share class.
Key facts
- Management company
- Degroof Petercam Asset Management SA
- Asset class
- Real Estate
- Geography
- Europe
- Strategy
- Listed Real Estate
- Share class currency
- EUR
- Share class inception
- 14.08.2013
- Fund size
- 491 million (as at 14.09.2026)
- Management fee
- 0.80%
- Performance fee
- No
- Liquidity
- Not available in this publication
- UCITS
- Yes
- Risk grade (SRRI)
- Not available in this publication
- Registered in Switzerland
- Yes
Price history
Fund and benchmark rebased to 100 at 30.09.2021.
Table view
| Period | From | Fund (100 at start) | Benchmark (100 at start) |
|---|---|---|---|
| 1Y | 03.10.2025 | 94.2 | 90.3 |
| 3Y | 29.09.2023 | 118.2 | 110.2 |
| 5Y | 30.09.2021 | 80.4 | 64.2 |
| Since 1999 | 30.09.2016 | 102.3 | 71.8 |
Total return: distributions reinvested.
In EUR, the currency of the share class shown.
Fund history to 29.09.2026.
Benchmark history to 28.09.2026.
The table shows each series at its own ending date; the comparison periods are not identical.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
| 1M | 3M | 6M | YTD | 2025 | 2024 | 2023 | 1Y | 3Y | 5Y | Volatility | Sharpe R. | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FundISIN BE6246059354, currency EUR, retail share class | -4.10 | -0.26 | -8.47 | 1.49 | 7.01 | -3.11 | 19.64 | 1.56 | 7.27 | -4.41 | 18.64 | 0.32 | -14.04 |
| BenchmarkEuropean property (tracker proxy) EUR | -4.52 | -6.81 | -14.94 | -3.37 | 5.07 | -2.99 | 13.75 | -4.79 | 4.88 | -8.42 | 19.92 | 0.20 | -14.94 |
| Differencefund minus benchmark, in percentage points | 0.42 | 6.55 | 6.47 | 4.86 | 1.94 | -0.12 | 5.89 | 6.35 | 2.39 | 4.01 | – | – | – |
Within the list: OpenList — Real Assets
Compared with the real estate funds on OpenList — Real Assets (5 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
| This fund | Group median | Position | |
|---|---|---|---|
| Return 1Y | 1.56 | 1.91 | 4 of 5 |
| Return 3Y p.a. | 7.27 | 10.21 | 5 of 5 |
| 3Y p.a. over its own benchmark | 2.39 | 4.58 | 5 of 5 |
| Volatility 3Y | 18.64 | 15.57 | 4 of 5 |
| Sharpe ratio 3Y | 0.32 | 0.41 | 5 of 5 |
| Max drawdown 3Y | -14.04 | -12.00 | 5 of 5 |
| Management fee | 0.80% | 0.80% | 3 of 5 |
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
Return against risk, 3 years
WSP report
Ask WSP which research is available for this fund and what it covers.
Enquire about WSP researchBack to the list: OpenList — Real Assets
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
This fund is an actively managed European real estate equity fund designed to give investors exposure to securities representing the European property sector. It sits in the equities asset class, carries a synthetic risk indicator of 5 out of 7, and assumes a recommended holding period of 5 years. The target investor is described as someone with sufficient knowledge and experience of equity markets and funds, seeking European real estate exposure, interested in environmental and social characteristics with a minimum share of sustainable investments, and able to bear losses of more than 20% per year. Given its focused sector and regional exposure, it fits more as a specialist satellite allocation than a broad core equity holding.
Investment strategy
The stated objective is to offer exposure to securities representative of the European real estate sector while promoting environmental and social characteristics under Article 8 of Regulation (EU) 2019/2088 and maintaining a minimum proportion of sustainable investments. The compartment invests mainly in real estate-related securities, including real estate certificates and shares of Regulated Real Estate Companies (SIR), real estate debt investment companies (SIC), and property companies or companies active in property promotion and development, issued by companies headquartered in Europe or with a significant share of assets, activities, profit centres or decision centres there. It is actively managed and does not aim to replicate its benchmark, although the benchmark named is GPR Europe UK 25% Capped Net Return, used for performance comparison and, in the KID, for selecting a large part of the portfolio securities. The share class is a capitalisation share class, the fund may use derivatives such as options, futures and forwards for investment purposes or for hedging interest-rate and credit risks, and subscriptions/redemptions are available daily with a 5-year recommended holding period.
Investment philosophy
• The portfolio invests primarily in listed European real estate securities, including real estate certificates and shares of SIRs, SICs, and property companies or companies active in property promotion and development, issued by firms with headquarters or significant assets, activities, profit centres or decision centres in Europe.
• Security selection applies portfolio-wide exclusions for companies not compliant with certain global norms including the UN Global Compact, as well as companies involved in controversial activities such as tobacco, gambling and thermal coal, or in severe ESG controversies.
• For the portion targeting a sustainable investment objective, the process also uses ESG profile analysis and scoring through an ESG Scorecard focused on the most relevant and material ESG risks, and an impact/sustainability thematic review of the share of company revenues financing sustainable development.
• The fund is actively managed against the GPR Europe UK 25% Capped Net Return benchmark, and portfolio weights can differ significantly from the benchmark; as of 31 August 2026 the portfolio held 45 positions and had major country weights in the UK (25.9%), France (21.4%), Germany (14.4%), Belgium (13.2%) and Switzerland (10.4%).
• Current positioning shows leading subsector exposures in logistics/industrial (23.6%), retail stores (22.8%), offices (18.7%) and residential (14.2%), with top holdings including Unibail-Rodamco (8.7%), Swiss Prime Site (7.2%), Vonovia (6.3%), Segro (5.5%) and Merlin Properties Socimi (4.9%); the report also notes concentration risk in European real estate equities and liquidity risk in real estate instruments, especially in stressed markets.
The asset manager
The fund is a compartment of DPAM B, a Belgian-law SICAV, and is managed by CA Indosuez Fund Solutions SA. The KID states that CA Indosuez Fund Solutions SA, abbreviated CAI FS, is the product manufacturer and management company, is based at 12 Rue Eugène Ruppert, L-2453 Luxembourg, forms part of the Crédit Agricole group, is authorised in Luxembourg and regulated by the CSSF. The monthly report also states that the compartment is managed by CA Indosuez Fund Solutions SA and that DPAM B is a Belgian UCITS under FSMA supervision. Degroof Petercam Asset Management is cited as the source of performance data in the report.
Strengths
The fund is distinguished by its focused mandate in European real estate equities and by its active management approach, with the ability to differ significantly from the GPR Europe UK 25% Capped Net Return benchmark. It combines this sector specialisation with Article 8 environmental and social promotion and a minimum proportion of sustainable investments, using both exclusion rules and ESG scorecard analysis for the sustainable sleeve. The portfolio is relatively concentrated at 45 holdings and is available with daily liquidity. Ongoing charges are stated at 0.91%, including 0.80% management fees, with no exit fee and no performance fee.
Risks
The product has a synthetic risk indicator of 5 out of 7, described as a risk class between medium and high, and the KID assumes a 5-year holding period. The documents state that there is no protection against market movements, so investors could lose all or part of their investment. They specifically identify concentration risk because the portfolio is mainly composed of equity securities issued by European real estate companies, making it especially exposed to economic developments in that sector and region. They also identify liquidity risk, noting that real estate sector instruments can display high liquidity risk, particularly during periods of market stress; the fund may also use derivatives, and returns for investors can be affected by currency fluctuations.