Real estate funds, as their name indicates, are special mutual funds investing in good-quality real estate, either directly or through real estate companies.  A minority part of their portfolios is also invested in bond instruments and money market instruments ensuring fund liquidity. Investors have the opportunity to use the advantages resulting from the ownership of good-quality real estate without personal liability for obligations arising out of the operation of this real estate. They participate in various segments of the real estate market – offices, shopping centres, logistics parks, residential real estate, hotels, etc. with a different development cycle and thus with the opportunity to further optimise the total yield by choosing the right investment strategy. In combination with the growth of the real estate value, they can achieve an attractive yield comparable with more risky types of investment, in particular in the long-term horizon. Real estate funds are particularly good for investors not interested or without the opportunity of directly owning their own real estate. The funds are classified into the category of so-called alternative investments. Given that the yields of real estate funds do not directly depend on the development of stock and bond markets directly, they are good for supplementing the investment portfolio for increasing the yield potential and distribution of market risks.