In June's issue, we have included:

Australia

• ASIC consults on financial services licensing requirements for corporate collective investment vehicles

Cayman Islands

• Inspections by the Cayman Islands Monetary Authority on Registered Persons under the Securities Investment Business Act
• Enforcement Guidelines in respect of the Common Reporting Standard and Economic Substance frameworks

China

• HKEX signs MOU with CEEX to explore Greater Bay Area, international carbon opportunities

Hong Kong

• Circular to REIT managers and applicants: Consequential amendments to the REIT Code in relation to conduct requirements for bookbuilding and placing activities
• Proposed Family Office Tax Exemption Regime in Hong Kong
• Circular to licensed corporations' importance of business continuity planning amidst latest COVID-19 situation

Japan

• Japan to regulate use and purchase of strategic real estate

Singapore

• Updated conditions of Sections 13O and 13U applications for family offices
• MAS revises FAQs on licensing and registration of fund management companies

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

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.49% in May 2022. The ACOE includes 19 funds with a total GAV of AUD 126.61 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 65 different properties of market value over $1.8 billion in farmland.

ANREV Australia Farmland Index returned 14.68% on a 12 month rolling basis in Q1 2022.

On an annualized rolling return basis, the income return was at 7.21% in Q1 2022.

Capital growth was at 7.10% in Q1 2022 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 Donald Lam.

Message from the Chairman to ANREV members and stakeholders -  Charles Haase appointed as Chief Executive at ANREV

The Q1 2022 ANREV ODCE Fund Index - Open End Diversified Core Equity (ODCE) results were released on 1 June 2022 and showed a total return of 2.05% for 8 funds.

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

The Carbon Risk Real Estate Monitor (“CRREM”) initiative aims to “make decarbonization measurable” by providing a free-use Excel tool as well as decarbonization pathways which could serve as a benchmark. The CRREM pathways allow the industry to set science-based carbon targets aligned with requirements of the Paris Agreement to limit global warming to 2°C or better 1.5°C by 2050 and effectively measure the transitional risk of climate change for individual assets and portfolios.

The objective of this pilot was to test the tool and relevant pathways for Asia Pacific assets in order to help asset owners, developers, and managers to adopt the pathways as best practice in the region.

• Total real estate AUM at US$4.7 trillion, marking a new record in the history of the survey

• Top 10 RE managers reported a total of US$1.9 trillion AUM, a  28% increase on the US$1.5 trillion equivalent at the end of 2020

• GLP is making is replacing CapitaLand in the top 10

At the end of 2021, the total global real estate assets under management (AUM) reached a new record high of US$4.7 trillion compared with the US$4.1 trillion recorded a year earlier.The total AUM of the top 10 managers exceeded US$1.9 trillion. With US$475.6 billion of real estate AUM, Blackstone tops the overall list, followed by Brookfield and Prologis.
 
GLP is making is replacing CapitaLand in the top 10 and takes the first spot in APAC.