The forth net / gross return report shows a three months' total gross return of -4.07% for the period between April and June 2020.
 
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 at [email protected] or Draco Mok at [email protected] if you have any questions regarding the Index.

• Funds of funds assets under management rose to a minimum of US$ 37.7 billion globally
• As a group funds of funds delivered positive net average returns of 5.6% in 2019
• Funds of funds with a global strategy further enhanced their market dominance

On average, funds of funds have delivered seven consecutive years of positive returns, with an average of 5.6% in 2019.

ANREV and INREV Funds of Funds Universes (‘Universe’) contains 51 vehicles representing a total Net Asset Value (NAV) of US$20.2 billion. Ten funds of funds have indicated their preference to remain anonymous and therefore the online Funds of Funds Universe displays 41 of the 51 funds of funds.

The performance data presented in this report is not intended to serve as a benchmark and should be used for research and information purposes only.

In light of the COVID-19 pandemic, ANREV has surveyed the fund mangers who are currently included in the ANREV Quarterly Index and asked about the impact of COVID-19 on valuation, suspension, and rent collection.

The survey covered 78% or US$97.5 billion GAV of the ANREV Quarterly Index Q1 2020. A snapshot summaring the results can be downloaded below.

In light of the COVID-19 pandemic, ANREV has conducted a small survey to assess sentiment across the region in terms of confidence on the allocations, markets and sectors, as well as impacts on the workplace. The market sentiment survey targeted senior investors and investment managers members of ANREV Management Board and councils and asked their views on the impact of the pandemic on Asia Pacific markets.

A snapshot summarising the results of the survey can be downloaded below.

[16 July 2020 updated]

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of -0.37% in June 2020. The ACOE includes 19 funds with a total GAV of AUD 110.86 billion.

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

Please contact Daisy Huang at [email protected] or Draco Mok at [email protected] if you have any questions regarding the Index.

ANREV has launched the second 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 6 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 Kip Kong or Amélie Delaunay.

Message from the Chief Executive to ANREV members and stakeholders

The second Global IRR Index consultation release includes 313 closed end funds across vintages from pre-2002 to 2018 with a non-core manager defined strategy.

Key highlights include:

• The second release of the Global IRR Index is comprised of 267 value added and 46 opportunity funds
• The Q1 2020 Global IRR Index includes 79 Asia Pacific funds, 100 European and 134 US focused non-core closed end funds
• Older vintage funds (pre-2002) display the highest performance with an equally weighted IRR of 15.7%

In June's issue, we have included:     

Australia

• Extending the instant asset write-off for eligible businesses
• Relief for tenants and landlords

British Virgin Islands

• New regulatory regime for closed-ended funds in the British Virgin Islands.

Cayman Islands

• Registration Deadline Imminent for Private Funds

Hong Kong

• SFC proposes changes to the Code on Real Estate Investment Trusts
• Hong Kong Quality Assurance Agency launches green finance certification scheme – ESG fund

Japan

• Ministry of Finance announces implementation of new foreign direct investment regulations from 8 May 2020

Korea

• FSC and FSS finalise measures to improve regulatory framework for private equity funds

OECD

• OECD issues analysis examining tax treaties and the impact of the COVID-19 crisis

Singapore

• Personal Data Protection (Amendment) Regulations 2020 come into effect
• Securities and Futures (Offers of Investments) (Collective Investment Schemes) (Amendment No. 3) Regulations 2020 gazetted

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 Q1 2020 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 2020 sample of the ANREV IRR index includes 79 funds. 4 new funds were added this quarter.

We welcome any questions or comments - please email Daisy Huang or Kip Kong.