The fourteenth gross return report shows a 3-month total gross return of 0.52% for the period between October and December 2022.
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 19 ACOE funds.
ANREV has launched the twelfth release of the ANREV ODCE Asset Level Performance Consultation Report.
The ANREV Asset Level Performance Report is not an index as the coverage is limited to assets held by 8 funds with a pan Asia core open end strategy.
The ANREV Asset Level Performance Report results are based on asset level data that is provided to ANREV directly from managers. Data collection starts immediately after a quarter has ended for a period of up to 6 weeks after quarter end.
The twelfth consultation release of the Global IRR Index includes 343 funds with non-core strategies, comprising of 301 value added and 42 opportunity funds.
> This Global IRR Index release features 73 Asia Pacific, 118 European and 152 US funds
>Funds with a first closing in 2020 recorded an average equally weighted IRR of 16.8% in Q3 2022
>Multi country funds show an average interquartile range of 9.6%, versus the single country equivalent of 11.7%
>The best performing vintage group for US funds is 2008-2010 with an average IRR of 18.7%. For both Asian Pacific and European funds it is 2011-2013, with average IRRs of 16.2% and 11.8%, respectively
ANREV is pleased to present the results of the Investment Intentions Survey 2023 with a specific focus on non-listed real estate funds. The survey was conducted in conjunction with the European Association for Investors in Non-listed Real Estate Vehicles (INREV) and the Pension Real Estate Association (PREA). By joining the forces of all three organizations, the survey is able to present a truly global view on expected trends and investment intentions within the real estate industry. This is the fifteenth edition of the regional survey which attracted 82 respondents: 75 investors (91%), and 7 funds of funds managers (9%).
Chapter 1 explores global real estate allocations, providing insight into investment trends globally and is based on the full sample of respondents. This is a common section that can also be found in the INREV and PREA 2023 Investment Intentions reports.
Chapter 2 focus on the Asia Pacific real estate market, including insights on preferred structures, markets, sectors, styles and trends. This chapter is based only on those investors and fund of fund managers who are already investing in the Asia Pacific market or intend to do so in the next two years.
The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of -0.03% in December 2022. The ACOE includes 19 funds with a total GAV of AUD 133.59 billion.
The ACOE Index also reports data on geographic allocation by sector.
The INREV Due Diligence Questionnaire (DDQ) assists investors and consultants in the due diligence process to understand a fund manager’s structure, strategy and non-listed real estate business. It also gives insight in a specific vehicle’s strategy, risk processes, management, terms and projected performance. With it, investors can determine, in principle, whether a proposal fits their investment objectives.
The INREV DDQ was updated in January 2023. New version reflects the feedback received from INREV members during a two-month consultation period.
To help with the transition to the new DDQ an implementation kit is available and if you have any questions please contact [email protected]
Download the updated DDQ, implementation kit and change log below.INREV DDQ 2023DOCXDownloadINREV DDQ 2022 - Funds of Funds and Multi ManagerDOCXDownloadINREV DDQ 2020 - Debt Vehicles DOCXDownloadINREV DDQ 2018DOCXDownloadINREV DDQ Implementation Kit 2023PDFDownloadINREV Due Diligence Data Room Guidelines 2023XLSXDownloadINREV Customer Due Diligence Guidance 2023PDFDownloadINREV DDQ 2023 - ESG AppendixDOCXDownloadINREV DDQ 2020 - Impact Investing AppendixDOCXDownloadINREV DDQ 2020 - Debt Vehicles – Tax AppendixDOCXDownloadINREV DDQ 2019 - Tax AppendixDOCXDownloadINREV DDQ Change Log 2023PDFDownloadINREV DDQ - FoF and MM – Change Log 2022DOCXDownloadINREV DDQ - Debt Vehicles – Change Log 2020PDFDownload
Welcome to the January 2023 update of the Global Real Estate Fund Index (GREFI). It is an index showing the performance of non-listed real estate funds on a global basis and is created by ANREV, INREV and NCREIF. This publication includes performance figures up to end of Q3 2022.
The GREFI All Funds Index was updated for the first time on a quarterly basis following the second quarterly release of the ANREV Index for Q1 2014. From Q1 2014 onwards, GREFI has been updated 12 weeks after the quarter end. This index release follows the same structure of previous releases. All numbers are also available in an Excel file.
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.
The GREFI All Funds Index delivered a negative total return of -0.12% in Q3 2022.
Funds with a global regional strategy outperformed the rest, being the only funds that saw an increase in performance quarter-on-quarter (0.42% in Q2 vs 0.83% in Q3).
Non-core funds outperformed their core peers, posting aggregated quarterly total returns of 0.99% and -0.37%, respectively.
ANREV has launched the Q3 2022 IRR Index by vintage. The IRR Index measures performance of value added and opportunistic non-listed closed end funds investing in Asia Pacific.
The Q3 2022 sample of the ANREV IRR index includes 73 funds.
• ANREV’s All Funds Index returned 0.23% in Q3 2022, down from 0.89% in Q2 2022.
• Core funds outperformed value added and opportunity funds with returns of 0.76% versus -3.60% and -2.57% respectively.
Data contributions were received from 80 funds with a total gross asset value of US$148.4 billion. Further detail of the sub-indices which cover fund style and various geographies can be found in the full report.
We would like to thank all the companies that supported the data collection exercise and look forward to your continued support in the next round of data collection.
First created in 2017 and launched as a dedicated survey covering North America in 2020, the Survey is an annual report tracking corporate practices and employee demographics on diversity, equity and inclusion for commercial real estate. In 2021, the Survey was expanded to incorporate Asia-Pacific and Europe. The Survey is produced by the industry associations and organizations ANREV, INREV, Ferguson Partners, NAREIM, NCREIF, PREA, REALPAC and ULI.
The DEI Survey 2022 represents more than 357,041 full-time employees, $2.34 trillion of assets under management and a cross section of the commercial real estate industry in terms of size, region and business classification. The Survey, conducted between July and October 2022, brings together participation from 192 unique organizations who provided 210 submissions detailing their DEI practices in North America (81.4% of respondents), Europe (12.4%) and Asia-Pacific (6.2%).
The Global Real Estate DEI Survey aggregates data on:
- DEI program structure, resources and ownership
- Policies focused on recruitment, retention, training and development, inclusivity, tracking and accountability and pay equity
- Employee demographics by gender, race/ethnicity and nationality, across seniority and job function, as well as DEI hiring, promotion and departure trends year-over-year.