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 Q2 2024 includes 73 closed-end funds across vintages from pre-2005 to 2022.

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

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 up to the end of Q2 2024. 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 Q1 2005, now offering more than 15 years of performance across all regions.

Key highlights:

• The GREFI All Funds Index delivered a total return of -0.32% in Q2 2024 and was negative for the eighth consecutive quarter.
• Other than Asia Pacific, all regions recorded quarter-on-quarter increase in performance, with Europe outperforming the wider index.
• GREFI Core funds slightly underperformed their riskier non-core peers, with both strategies remaining in negative territory.

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

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.26% in August 2024. The ACOE includes 17 funds with a total GAV of AUD 114.18 billion.

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

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

The Q2 2024 ANREV index included data contributions from 78 funds with a total gross asset value of US$139.4 billion.

Key highlights:

• ANREV’s All Funds Index posted a total return of -2.83% in Q2 2024, down 112 bps from -1.71% posted in Q1 2024.

• Core funds posted the only negative total returns of -3.48%, underperforming both opportunistic and value-added funds which reported 1.25% and 0.03% respectively.

• Closed-end funds with a total return of 0.22% outperformed their open-end counterparts which posted -3.50%.

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 ANREV Australia Farmland Index provides financial performance of 61 different properties of market value over AUD 2.2 billion in farmland.

ANREV Australia Farmland Index returned -1.66% on a 12-month rolling basis in Q2 2024.

On an annualized rolling return basis, the income return was at 2.00% in Q2 2024.

Capital growth was at -3.60% in Q2 2024 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.

ANREV, INREV and NCREIF present the sixth edition of the Global ODCE (Open End Diversified Core Equity) Fund Consultation Index, consisting of 49 funds with a combined total gross asset value of US$ 349.7 billion. 

Key highlights include: 

• The Q2 2024 Global ODCE reported a net total return of -0.97%, marking the eighth consecutive quarter of negative performance. On a 1-year rolling annual basis the total return stands at -7.36%.
• Europe outperformed the other regions, posting the only positive returns with 0.19%, followed by the US with -0.66%, and -2.43% in Asia Pacific. All regions saw a quarter-on-quarter increase in performance.
• On a five-year annualized basis, the Global ODCE Index shows an aggregated total return of 1.49%. The US posted the highest annualized total return of 2.27%, followed by Asia Pacific with 1.83%, and 0.04% in Europe.
• At 0.77% in Q2, the accrual-based income return reached its highest level in three years. On a 1-year rolling annual basis, the income return stands at 3.05%.

 Please contact Amélie Delaunay, Daisy Huang or Eileen Chiu should you have any questions regarding the Index.

The Q2 2024 ANREV ODCE (Open End Diversified Core Equity) Fund Index results were released on 28 August 2024 and posted a net total return of -2.43%, up 147 bps from -3.90% posted in Q1 2024.

Key highlights:

• Capital growth increased by 143 bps to -3.18%, while the distributed income return stands at 0.75%.
• After taking out the currency impact of -1.23%, the index delivered a Local Currency Equivalent Net Return of -1.20%.
• The index features 8 funds, with a total GAV of US$20.6 billion as of the second quarter of 2024.

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

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.18% in July 2024. The ACOE includes 17 funds with a total GAV of AUD 114.34 billion.

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

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

The eighteenth gross return report shows a 3-month total gross return of -3.82% for the period between April and June 2024.
 
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 17 ACOE funds.

Please contact Daisy Huang or Donald Lam if you have any questions regarding the Index.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of -3.86% in June 2024. The ACOE includes 17 funds with a total GAV of AUD 113.12 billion.

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

Please contact Daisy Huang or Donald Lam if you have any questions regarding the Index.