ANREV, INREV and NCREIF have released the first Global IRR index providing data on the performance of value added and opportunity closed end non-listed real estate funds in Asia Pacific, Europe and the US.

The webinar discussed the relationship between ANREV, INREV and NCREIF, and provide an overview of the new index.

Panelists:

Amelie Delaunay - ANREV
Dan Dierking - NCREIF
Henri Vuong - INREV
Joe D'Alessandro - NCREIF

This index is a consultation index and we would like to encourage the industry to provide feedback @Amelie Delaunay.

Data contributions were received from 100 funds with a total gross asset value of US$136.5 billion. The All Asia Index headline return was 7.9% in local currency for 2019 compared with 9.6% in 2018.

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 next year.

Together with the release of Annual Index 2019, ANREV has recalculated the Q4 2019 Quarterly Index. Members can move to ANREV Analysis Tool to check out the updated results.

If you have any questions about the ANREV Index or wish to take part in this industry-led initiative, please contact Daisy Huang or Kip Kong.

ANREV, INREV and NCREIF have released the first Global IRR index providing data on the performance of value added and opportunity closed end non-listed real estate funds in Asia Pacific, Europe and the US. 

Highlights of the first index release show:

• The first consultation release of the Global IRR features 294 closed end non-core strategy funds
• Asia Pacific region is represented by 62 funds, European region by 102 and US – by 130 funds 
• Funds launched between 2011 and 2013 posted the highest average IRRs across the time series of the index, while those launched between 2004 and 2008 – the lowest

This index is a consultation index and we would like to encourage the industry to provide feedback @Amelie Delaunay

In April's issue, we have included:     

Australia

• ASIC releases new regulatory framework for foreign financial services providers.

British Virgin Islands

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

Cayman Islands

• Cayman Islands Private Funds Law, 2020.
• Cayman Islands and the EU's Annex I list of non-cooperative tax jurisdictions.
• AEOI 2020 Amendments. 

European Union

• New EU ESG Disclosure requirements for Asset Managers.

Hong Kong

• Limited Partnership Fund Bill.
• Hong Kong Budget 2020-2021: Carried Interest (Carry) Tax Concession.

Japan

• Green Bond Guidelines 2020 and Green Loan and Sustainability Linked Loan Guidelines 2020.

Korea

• Korea Government prepares to launch Asia Region Funds Passport in May.

Singapore

• MAS revises guidelines on licensing, registration and conduct of business for fund management companies.

COVID-19 Library

• ANREV members websites for country specific COVID-19 related regulatory guidance.

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

The third net / gross return report shows a three months' total gross return of -1.01% for the period between January and March 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.

Message From The Chief Executive To ANREV Members And Stakeholders

ANREV has launched the first 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.

This webinar was the third installment in a series, which looked at material issues in the sustainability performance of real estate investments.  In this series, presenters from leading organizations have taken you through their ESG practices, as well as touching upon key components of GRESB’s Real Estate Assessment.

During this session, Amélie Delaunay, Director of Research and Professional Standards at ANREV joined by Ruben Langbroek, Head of Asia Pacific at GRESB  to provide an introduction of ANREV’s ESG initiatives and GRESB’s Real Estate Assessment; followed by presentations by Ian Lieblich, Sustainability Manager at Investa Property Group , and Karen Xu, Head of Investor Relations  at White Peak Real Estate Investment, who touched upon the ESG practices of their respective organizations, with a slight focus on the Development component of GRESB’s assessment

To view the recording of the webinar, please download the attached pdf and access the link stored with any browser.

The slides used in presentation can also be downloaded below.

ANREV would like to thank the speakers for their contribution.

With the popularity of the Asia Pacific non-listed real estate market continuing to increase, it is timely to assess how much capital is entering the market and what this figure represents on a global basis.

The Capital Raising Survey was first launched in 2014. This survey gives an insight into capital raising activities within the non-listed real estate industry by region, product type and investment strategy. The non-listed real estate products include separate accounts, joint ventures, club deals, funds of funds and non-listed real estate debt products. The report offers detailed insights into global and regional capital raising figures.

The 2020 survey attracted the participation of 159 fund managers globally, and although this is lower compared to last year when over 200 respondents were included, the total capital raised for new investments into real estate ran up to a record of US$225.8 billion.

Capital was sought for 982 vehicles which equate to a minimum of US$220.3 billion of new equity raised for investments into non-listed real estate, a substantial increase compared to the previous record of US$185.4 billion for 2018. The Asia Pacific region attracted US$32.8 billion of equity, a significant increase to the previous years’ figure of US$26.9 billion.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of -1.88% in March 2020. The ACOE includes 19 funds with a total GAV of AUD 113.8 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.