The ANREV Australia Farmland Index provides financial performance of 63 different properties of market value over AUD 2.06 billion in farmland.

ANREV Australia Farmland Index returned 4.41% on a 12-month rolling basis in Q1 2026.

On an annualized rolling return basis, the income return was at 3.25% in Q1 2026.

Capital growth was at 1.13% in Q1 2026 on a 12-month rolling basis.

We would like to thank all the managers for their data contribution.

If you have any questions about the Index, please contact Daisy Huang, Christy Lau, or Karen Yeung.

The ANREV ODCE (Open End Diversified Core Equity) Fund Index returned positive in Q1 2026, posting net total returns of 0.85%, up from -0.57% posted in Q4 2025.

Key highlights:

• Capital growth increased from -1.24% to 0.17% in Q1, while the income return remained steady at 0.69%, up 2 bps from Q4.
• The one year rolling return stands positive at 5.76%, while the three and five year annualised returns are -1.41% and 0.43%, respectively.
• The index features 8 funds with a total GAV of US$21.3 billion, covering 441 assets as of Q1 2026.

If you have any queries on the index, please contact Daisy Huang or Eileen Chiu.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.31% in April 2026. The ACOE includes 18 funds with a total GAV of AUD 119.89 billion.

The ACOE Index also reports data on geographic allocation by sector.

Please contact Daisy Huang, or Christy Lau if you have any questions regarding the Index.

The 2025 ANREV annual index included data contributions from 78 funds with a total gross asset value of US$137.3 billion.

Key highlights:

• ANREV’s Annual All Funds Index posted a total return of 5.78% in 2025, up from -5.14% in 2024.

• Core funds with total returns of 6.88% outperformed value-added and opportunistic funds, which posted 2.35% and -1.72% respectively

• Both multi-sector and single-sector funds reported positive returns of 4.72% and 6.72% respectively

Further details of the sub-indices which cover different fund styles and various geographies can be found in the full report.

We would like to thank all the funds that contributed data, and look forward to your continued support in the next round of data collection.
If you have any questions about the index or wish to take part in this industry-led initiative, please contact Daisy Huang or Eileen Chiu.

The Q4 2025 release of the Global IRR Index monitors a sample of 421 closed end funds across vintages from pre-2001 to 2022. All of these 421 funds follow a non-core strategy as defined by their managers and include 367 value added and 54 opportunistic funds.

Key highlights:

• This release of the Global IRR Index features 71 Asia Pacific funds, 163 European and 187 funds focused on the USA.

• The IRR for the post-2019 vintage group improved the most in Q4, from 0.20% to 2.13%.

• At 9.07%, the IRR for the 2022 vintage year is the highest amongst the post-2015 funds.

• The performance of the USA’s 2008-2010 fund vintage continues to lead all cohorts in all regions.

The Global Internal Rate of Return (IRR) Index is jointly produced by INREV, ANREV and NCREIF to measure the IRR performance of closed end non-listed real estate vehicles since inception on a global scale.

For any queries, please contact Daisy Huang or Eileen Chiu.

The gross return report shows a 3-month total gross return of 2.19% for the period between January and March 2026.
 
The gross return report is a supplementary report to the ANREV Australia Core Open End Fund Monthly Index (ACOE) published one month after every quarter showing aggregated gross returns of the 18 ACOE funds.

Please contact Daisy Huang and Christy Lau if you have any questions regarding the Index.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 1.41% in March 2026. The ACOE includes 18 funds with a total GAV of AUD 119.92 billion.

The ACOE Index also reports data on geographic allocation by sector.

Please contact Daisy Huang, Karen Yeung, or Christy Lau if you have any questions regarding the Index.

The Global Real Estate Fund Index (GREFI) shows the performance of non-listed real estate funds on a global basis and is jointly created by ANREV, INREV and NCREIF. This publication includes performance figures from Q1 2005 up to the end of Q4 2025. The GREFI is updated on a quarterly basis and is published 12 weeks after the quarter end.

The history of the Global Real Estate Fund Index (GREFI) has been extended to Q2 2005, now offering more than 15 years of performance across all regions.

Key highlights:

• The GREFI All Funds Index was positive for the sixth consecutive quarter in Q4 2025, delivering a total return of 1.08%, up 20 bps from 0.88% posted in the previous quarter.
• All regions recorded positive performance, with Asia Pacific outperforming the other regions, followed by Europe and then the US.
• The GREFI non-core funds slightly outperformed their core peers, both delivering positive total returns of 1.11% and 1.08% respectively.

For any queries, please contact Daisy Huang or Eileen Chiu.

The IRR Index measures the internal rate of return performance of Asia Pacific closed end non-listed real estate funds since the funds’ inception up to the end of the latest quarter. Performance is measured net of fees and costs and is computed on both a pooled return basis and an equally weighted basis (arithmetic mean).

The IRR Quarterly Index Q4 2025 includes 71 closed-end funds across vintages from pre-2005 to 2022.

For any questions or comments, please contact Daisy Huang or Eileen Chiu.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.27% in February 2026. The ACOE includes 18 funds with a total GAV of AUD 118.81 billion.

The ACOE Index also reports data on geographic allocation by sector.

Please contact Daisy Huang, Karen Yeung, or Christy Lau if you have any questions regarding the Index.