Lonsec gave the Vanguard Property Securities Index Fund a highly recommended rating after reviewing 19 funds.
Three funds had not previously been rated: the Aviva Investors Listed Property Fund, Legg Mason Property Securities Fund and Macquarie Master Property Securities Fund.
"Each of these new funds attained a recommended rating, reflective of the quality of the investment teams and robust investment processes," Lonsec investment analyst Thembi Matabiswana said.
Small REITs had preformed better than their larger counterparts as their ability to move easily in and out less of less liquid stocks proved to be a competitive advantage, Matabiswana said.
This advantage proved to be more important than participation in the heavily discounted capital raisings of last year.
