This ANREV Vehicles Universe document provides data on 392 vehicles with a total gross asset value (GAV) of US$ 291.8 billion as of Q2 2022. Data on 251 vehicles (total GAV US$183.0 billion) was extracted from the ANREV Vehicles Database. Data on the remaining 141 vehicles came from secondary sources.

If you have any questions, please contact Daisy Huang, Justin Wong, or Donald Lam.

The thirteenth gross return report shows a 3-month total gross return of 1.97% for the period between July and September 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.

ANREV has launched the eleventh 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.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 1.35% in September 2022. The ACOE includes 19 funds with a total GAV of AUD 131.45 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 eleventh consultation release of the Global IRR Index includes 341 funds with non-core strategies, comprising of 299 value added and 42 opportunity funds.

Key highlights:

• This Global IRR Index release features 72 Asia Pacific, 118 European and 151 US funds
• Funds launched in 2018 reported the highest single vintage performance of 18.3% average IRR
• Funds launched in 2020 showed a biggest quarterly decrease of -2.26% in IRR among all vintage 
• By region, the USA’s 2008-2010 vintage group continued to be the best performing group compared to other vintage groups with an average IRR of 18.7%

In September's issue, we have included:

Australia

• ASIC extends transitional relief for foreign financial services providers
• Australian Government consults on taxation treatment of digital currency
• Australian Treasury consults on multinational tax integrity and enhanced tax transparency measures

China

• China releases security assessment measures for data export
• Joint Announcement of the People’s Bank of China, the Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority

Hong Kong

• SFC publishes review of online brokerage, distribution and advisory services
• SFC updates FAQs relating to investment-linked assurance schemes

Japan

• FSA publishes draft guidelines providing details on creating, recordkeeping and reporting of transaction information in respect of derivatives transactions
• FSA publishes report and draft code of conduct for ESG evaluation and data providers

Singapore

• MAS publishes circular on disclosure and reporting guidelines for retail ESG funds
• MAS publishes information paper on strengthening AML/CFT practices for external asset managers
• MAS publishes circular on reporting of significant redemption, gating and suspension of funds

Lastly, we would like to thank our committee who helped putting together the newsletter. Details about this committee can be found here.

ANREV has launched the Q2 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 Q2 2022 sample of the ANREV IRR index includes 72 funds.

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

The ANREV Management fees and terms study explores fees and costs structures of Asia Pacific non-listed real estate funds with a focus on the Total Global Expense ratios (TGERs) and real estate expense ratios (REERs).

This year’s study includes 57 vehicles managed by 27 managers that provided information on general fees and terms (representing a combined total GAV of US$110.9 billion). Of those, 42 funds managed by 24 managers submitted their 2021 TGERs representing a combined total GAV of US$96.8 billion.