Welcome to the March 2022 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 Q4 2021.

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 almost 15 years of performance across all regions. 

The GREFI All Funds Index delivered a total return of 5.93% in Q4 2021. The latest results are the strongest on record for the GREFI, considerably above the pre-pandemic levels of 2019 and pre-GFC levels.

Key highlights:

• US funds showed the strongest performance out of the regional strategies, recording a total return of 8.05% this quarter.
• Non-core funds outperformed their core peers, with the quarterly total returns of 7.34% and 5.66%, respectively.

Please send any queries to Daisy Huang, Justin Wong or Amélie Delaunay.

• ANREV’s All Funds Index returned 4.69% in Q4 2021, up from 1.57% in Q3 2021.

• Core funds outperformed value added and opportunity funds with returns of 5.15% versus 1.82% and 0.62% respectively.

Data contributions were received from 73 funds with a total gross asset value of US$143.4 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.

If you have any questions about the ANREV Index or want to take part in this industry-led initiative, please contact Daisy Huang or Justin Wong.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.34% in February 2022. The ACOE includes 19 funds with a total GAV of AUD 124.76 billion.

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

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

The ANREV Australia Farmland Index provides financial performance of 65 different properties of market value over $1.8 billion in farmland.

ANREV Australia Farmland Index returned 13.14% on a 12 month rolling basis in Q4 2021.

On an annualized rolling return basis, the income return was at 7.22% in Q4 2021.

Capital growth was at 5.62% in Q4 2021 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, Justin Wong or Yingying Ma.

The Q4 2021 ANREV ODCE Fund Index - Open End Diversified Core Equity (ODCE) results were released on 1 March 2022 and showed a total return of 2.78% for 8 funds.

Please provide feedback and comments to Justin Wong or Amélie Delaunay.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.33% in January 2022. The ACOE includes 19 funds with a total GAV of AUD 124.77 billion.

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

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

This presentation will introduce the new ANREV Analysis Tool and Vehicles Universe, and provide an update on the ANREV/INREV IT Roadmap.

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

The tenth net / gross return report shows a 3-month total gross return of 5.75% for the period between October and December 2021.
 
The net / 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 or Justin Wong if you have any questions regarding the Index.

ANREV has launched the eighth 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 Justin Wong or Amélie Delaunay.

The eighth consultation release of the Global IRR Index includes 336 funds with non-core strategies, comprising of 288 value added and 48 opportunity funds.

Key highlights:

• This Global IRR Index release features 80 Asia Pacific, 108 European and 148 US funds
• The average IRR of funds launched in 2019 increase by 533 bps to 1.5%