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%

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 ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 4.54% in December 2021. The ACOE includes 19 funds with a total GAV of AUD 124.52 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.

ANREV is pleased to present the results of its ninth global Investment Intentions Survey 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 fourteenth edition of the regional survey which attracted 99 respondents: 91 investors (92%), and 8 funds of funds managers (8%).

Chapter 2 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 2022 Investment Intentions reports.

Chapters 3 through 7 focus on the Asia Pacific real estate market, including insights on preferred structures, markets, sectors, styles and trends. These chapters are 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.

Welcome to the January 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 Q3 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. 

Key highlights:

• The GREFI All Funds Index delivered a total return of 4.31% in Q3 2021, its strongest performance since Q4 2005.
• US funds showed the strongest performance out of the regional strategies, recording a total return of 7.01% this quarter.
• The performance gap between non-core funds and core funds grew to 255 bps this quarter, up from 220 bps in Q2 2021.

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

ANREV has launched the Q3 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 Q3 2021 sample of the ANREV IRR index includes 80 funds.

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

Global DEI Survey results published for the first time.

ANREV in collaboration with six other Industry Associations INREV, NAREIM, NCREIF, PREA, REALPAC and ULI joined forces with Ferguson Partners in 2021 to track global real estate diversity, equity and inclusion (DEI) data around corporate practices. Diversity is a priority for majority of CRE firms, global benchmark reveals.

According to the results of the 2021 DEI Survey, 92% of commercial real estate firms globally have a DEI program or initiatives highlighting a clear mandate and momentum for DEI to be a priority within the industry.

• ANREV’s All Funds Index returned 1.54% in Q3 2021, down from 3.60% in Q2 2021.

• Core funds outperformed value added and opportunity funds with returns of 1.62% versus 0.93% and 1.54% respectively.

Data contributions were received from 87 funds with a total gross asset value of US$151.1 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.

In light of the COVID-19 pandemic, ANREV has conducted an additional survey investigating funds’ valuations under COVID-19.

The ‘Impact of COVID-19 on valuations’ survey was distributed to fund managers during the data collection of ANREV Quarterly Index Q3 2021. They were asked to fill in the extra questionnaire to look into the impact of the “Material Uncertainty clause” on asset valuations, suspension of trading and status of rent collection.

For any questions, please contact Sharon Chan.