ANREV, INREV and NCREIF are pleased to present a series of quarterly snapshots on what’s happening in the global real estate investment market.

In this short two-page snapshot, the Global Research Committee will share their views and paint a picture of the global landscape drawing on data and insights from recent global indices and global surveys, conducted by all three associations.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.23% in January 2023. The ACOE includes 19 funds with a total GAV of AUD 133.96 billion.

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

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

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.

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

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.

Key highlights:

• 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 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.

Please provide feedback and comments to Amélie Delaunay or Daisy Huang.

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.

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

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. 

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.

We welcome any questions or comments - please email Daisy Huang or Justin Wong.