The Q4 2023 ANREV index included data contributions from 71 funds with a total gross asset value of US$135.4 billion.

Key highlights:

• ANREV’s All Funds Index posted a total return of -0.97% in Q4 2023, down from -0.93% recorded in Q3 2023.
• Value-added funds reported the only positive total returns of 3.24% over the quarter, outperforming both core and opportunity funds which reported -1.45% and -0.11% respectively.
• The underperformance from the Index was highly impacted by the continued negative performance of the Australian funds which posted -2.66% this quarter. The All Funds ex Australia Index saw a recovery, posting a total return of 2.86%.

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 Core Open End Fund Monthly Index (ACOE) saw a total return of 0.27% in February 2024. The ACOE includes 17 funds with a total GAV of AUD 119.11 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.

ANREV, INREV and NCREIF present the fourth 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$ 365.2 billion. 

Key highlights include: 

• The Q4 2023 Global ODCE reported a total return of -1.81%, marking the sixth consecutive quarter of negative performance. Asia Pacific outperformed the other regions with a total return of 3.83%, followed by Europe with -4.28%, and -5.00% in the US.
• On a five-year annualised basis, the Global ODCE Index shows an aggregated total return of 2.68%. Asia Pacific showed the highest annualized total return of 3.88%, the US posted 3.34%, while Europe delivered 0.52%.
• Other than Asia Pacific, all regions recorded a quarter-on-quarter decrease in performance.

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

The ANREV Australia Farmland Index provides financial performance of 61 different properties of market value over AUD 2.05 billion in farmland.

ANREV Australia Farmland Index returned -1.51% on a 12-month rolling basis in Q4 2023.

On an annualized rolling return basis, the income return was at -1.19% in Q4 2023.

Capital growth was at -0.37%% in Q4 2023 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 or Donald Lam.

The Q4 2023 ANREV ODCE (Open End Diversified Core Equity) Fund Index results were released on 28 February 2024 and showed a net total return of 3.83%. This marks the first quarter of positive returns following three consecutive quarters of negative returns.

Key highlights:

• Capital growth recovered to 3.14%, while the distributed income return stands at 0.69%.
• After taking out the currency impact of 4.47%, the Local Currency Equivalent Net Return is reported at -0.64%.
• The index features 8 funds, accounting for US$22.3 billion of GAV as of the fourth quarter of 2023.

Please provide feedback and comments to Daisy Huang or Eileen Chiu.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.25% in January 2024. The ACOE includes 17 funds with a total GAV of AUD 118.71 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.