The judges selected AG2R La Mondiale as a joint winner for its entrepreneurial and highly active approach to real estate investment, focused on creating value through development, redevelopment and intensive asset management. The strategy demonstrates a clear understanding of long-term demographic and societal trends, particularly through its emphasis on senior living and housing solutions. ESG considerations are fully embedded, with initiatives such as biodiversity planning strengthening the portfolio’s resilience and relevance. Strong in-house expertise and disciplined execution underpin performance, while the focus on future-oriented sectors positions the fund to capture structural growth and deliver sustainable returns over time.

The judges selected UMR as a joint winner for its diversified and forward-looking real estate strategy, combining broad geographic exposure with a wide range of asset classes. The fund demonstrates a clear commitment to future proofing its portfolio through active divestment of non-core assets and increased allocation to sectors with strong long-term fundamentals. Its use of specialised investment vehicles enhances diversification and flexibility, while maintaining a disciplined investment framework. ESG is firmly embedded, supported by climate risk assessments and ambitious energy reduction targets. Overall, UMR stands out for its balanced, adaptive and well-structured approach to real estate investment.