The ANREV / INREV Management Fees and Terms Comparison Study compares the fees and cost structures of 33 non-listed real estate investment funds in Asia Pacific and 87 in Europe with a focus on Total Global Expense Ratios (TGERs), Total Expense Ratios (TERs) and Real Estate Expense Ratios (REERs). The report is based on the regional studies conducted by ANREV and INREV during 2020.

Some of the key findings identified in the report are as follow:

• Average TGERs and TERs for core and value added non-listed real estate funds in Asia Pacific are lower than those in Europe.

• Average REERs are higher in Asia Pacific than in Europe

Please contact Sharon Chan if you have any questions regarding the comparison study.

This ANREV Vehicles Universe document provides data on 384 vehicles with a total gross asset value (GAV) of US$ 283.7 billion as of Q2 2021. Data on 245 vehicles (total GAV US$172.7 billion) was extracted from the ANREV Vehicles Database. Data on the remaining 139 vehicles came from secondary sources.

If you have any questions, please contact Daisy Huang or Alfred Tang.

The ninth net / gross return report shows a 3-month total gross return of 2.1% for the period between July and September 2021.
 
The net / 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 Alfred Tang if you have any questions regarding the Index.

ANREV has launched the seventh 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 1.28% in September 2021. The ACOE includes 19 funds with a total GAV of AUD 119.61 billion.

The ACOE Index also reports data on geographic allocation by sectors.

Please contact Alfred Tang or Daisy Huang if you have any questions regarding the Index.

The seventh consultation release of the Global IRR Index includes 337 funds with non-core strategies, comprising of 289 value added and 48 opportunity funds.

Key highlights:

• This Global IRR Index release features 80 Asia Pacific, 109 European and 148 US funds
• Funds launched in 2019 reported the weakest performances of all vintages, delivering negative results

ANREV has launched the Q2 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 Q2 2021 sample of the ANREV IRR index includes 80 funds.

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

In 2021, Aurex Group in partnership with ANREV launched an Asia Pacific (APAC) Compensation & Employee Sentiments Survey for the Unlisted Real Estate Investment Management industry.

The study is the first to be conducted in the geography for this specific professional group and aims to provide a resource for further discussion and understanding of differing compensation and sentiment trends.