• The ANREV All Funds index returned 2.84% in Q4 2018
• Value added funds overperformed core and opportunity funds returning 4.40% compared with returns of 2.93% and -0.70% respectively.

Data contributions were received from 89 funds with a total gross asset value of US$124.7 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 at [email protected] or Kip Kong at [email protected].

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.31% in Feb 2019. The ACOE includes 19 funds with a total GAV of AUD 108.28 billion.

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

ANREV has launched the fifth release of the ANREV Pan Asia Open-End Diversified Core Fund Index (ODCI).

Please provide feedback and comments to Kip Kong at [email protected] or Amélie Delaunay at [email protected]

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.33% in Jan 2019. The ACOE includes 19 funds with a total GAV of AUD 108.00 billion.

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

In January's issue, we have included:

Australia

• Managed Investment Trusts: applying a 30 per cent withholding rate on residential and agricultural property
• Extending the definition of a Significant Global Entity (SGE)
• ASIC extends relief for foreign financial services providers
• Australian government consults on Corporate Collective Investment Vehicle Bill

Cayman Island

• CIMA issues amendments to the AML Guidance Notes

Hong Kong

• SFC concludes consultation on amendments to anti-money laundering and counter-financing of terrorism guidelines
• Proposed changes to the funds tax exemption in Hong Kong

India

• Amendments in the long term capital gains tax

Japan

• Consumption tax amendments and transitional rules effective from October 2019
• 2019 tax reform proposals for the financial services industry and real estate market

Luxemburg

• ALFI Real Estate Investment Fund (REIF) Survey available for download.

Malaysia

• Taxation of unit holders of Real Estate Investment Trust/Property Trust Funds
• Qualifying expenditure and computation of industrial building allowance

Singapore

• Singapore parliament passes the Variable Capital Companies Bill
• MAS publishes FAQs on definition of accredited investor and opt-in process
• MAS guidelines on liquidity risk management practices for fund management companies

South Korea

• Debt Service Ratio (DSR) to be introduced as Household Debt Management Standard
• Proposed changes to the overseas investment vehicle (OIV) regime in Korea
• Financial measures to stabilize housing prices

Thailand

• New property tax in Thailand

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

ANREV is pleased to present the results of its sixth 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 twelfth edition of the regional survey which attracted 154 respondents: 144 investors (93.5%), and 10 funds of funds managers (6.5%).

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 2019 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.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 1.79% in Dec 2018. The ACOE includes 19 funds with a total GAV of AUD 107.82 billion.

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