ANREV has launched the ninth 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.

Fund managers remain focused on financial performance amidst growing interest in sustainability Sustainability has been gaining traction as a concept in recent times. Nonetheless, fund managers appear to be primarily still interested in the bottom line.
Correspondingly, this study was conducted by Jeslyn NG, to uncover the possible influence of ESG factors on the performance of private equity real estate funds in Asia Pacific.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 1.24% in March 2022. The ACOE includes 19 funds with a total GAV of AUD 126.19 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 eleventh gross return report shows a 3-month total gross return of 2.05% for the period between January and March 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 or Justin Wong if you have any questions regarding the Index.

In March's issue, we have included:

Australia

• ASIC welcomes new International Sustainability Standards Board and updated climate related disclosure guidance
• Australian Government consults on regulatory relief for foreign financial services providers

Cayman Islands

• Cayman Islands and the EU AML high risk third countries list

Hong Kong

• Circular to licensed corporations Updates to the reminder of business continuity planning in view of COVID 19 Vaccination Programme : Temporary Protection Measures for Business Tenants (COVID 19 Pandemic) Bill gazetted
• Temporary Protection Measures for Business Tenants (COVID 19 Pandemic) Bill gazetted
• Circular to Licensed Corporations and Associated Entities Anti Money Laundering / Counter Financing of Terrorism Updated AML/CFT Self Assessment Checklist
• HKEX Publishes Net Zero Guide & Announces New ESG Data Display

Japan

• FSA consults on facilitating entry of foreign securities brokers, investment advisors and investment managers into Japanese market
• JPX Publishes “Survey of TCFD Disclosure in Japan”

Korea

• Potential Comprehensive Real Estate Tax Bomb on Land for AMCs

Singapore

• Variable Capital Companies (Consequential Amendments to Other Acts) Order 2022 gazetted
• MAS revises guidelines on licensing, registration and conduct of business for fund management companies

United States

• SEC Proposes Sweeping New Interventions in the Private Funds Market

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 Q4 2021 IRR Index by vintage. The IRR Index measures performance of value added and opportunistic non-listed closed end funds investing in Asia Pacific.

The Q4 2021 sample of the ANREV IRR index includes 70 funds.

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

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.