The fourteenth consultation release of the Global IRR Index includes 346 funds with non-core strategies, comprising of 305 value added and 41 opportunity funds.

Key highlights:

• This Global IRR Index release features 71 Asia Pacific, 122 European and 153 US funds
• The IRR of funds with a first closing in 2020 has decreased by more than six percentage points
• A clear majority of funds follow a single country strategy
• At 18.7%, the performance of the USA’s 2008-2010 fund vintage is the strongest by far

ANREV has launched the Q1 2023 IRR Index by vintage. The IRR Index measures performance of value added and opportunistic non-listed closed end funds investing in Asia Pacific.

The Q1 2023 sample of the ANREV IRR index includes 71 funds.

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

Welcome to the June 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 Q1 2023.

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. 

Key highlights:

• The GREFI All Funds Index delivered a negative total return of -1.79% in Q1 2023.
• Global strategy funds outperformed regional funds, maintaining positive performance this quarter.
• The GREFI Core funds underperformed their riskier peers, with aggregated quarterly total returns of -1.98% and -0.87%, respectively.

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

• ANREV’s All Funds Index returned 0.33% in Q1 2023, up from 1.68% in Q4 2022.

• Value added funds outperformed core and opportunity funds with returns of 1.99% versus 0.13% and 1.49% respectively.

Data contributions were received from 77 funds with a total gross asset value of US$156.3 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 0.15% in May 2023. The ACOE includes 17 funds with a total GAV of AUD 124.81 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 ANREV Australia Farmland Index provides financial performance of 58 different properties of market value over AUD 1.83 billion in farmland.

ANREV Australia Farmland Index returned 4.82% on a 12-month rolling basis in Q1 2023.

On an annualized rolling return basis, the income return was at 1.12% in Q1 2023.

Capital growth was at 3.68% in Q1 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 Justin Wong.

The Q1 2023 ANREV ODCE Fund Index - Open End Diversified Core Equity (ODCE) results were released on 31 May 2023 and showed a total net return of -0.43% for 8 funds.

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

• Blackstone is the biggest fund manager with more than US$500 billion of real estate AUMBlackstone is the biggest fund manager with more than US$500 billion of real estate AUM

• Continued concentration of global AUM in the largest managers, with top four managers accounting for almost 27% of the total real estate capital.

• ESR has become the manager with the largest Asia Pacific real estate AUM

• Pan-Asian industrial and logistics players are emerging among top fund managers.

At the end of 2022, the total global real estate assets under management (AUM) reached a record of US$4.1 trillion. The total AUM of the top 10 managers exceeded US$1.9 trillion. With US$508.2 billion of real estate AUM, Blackstone tops the overall list, followed by Brookfield and Prologis.
 
ESR is making is replacing GLP in the top 10 and takes the first spot in APAC.