Steady returns in Q2

• The ANREV All Funds index returned 3.04%
• Value added and opportunity funds returned 3.69% and 3.57% respectively

Data contributions were received from 97 funds with a total gross asset value of US$115.1 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 in November.

Please contact Amélie Delaunay at [email protected] to take part in this industry-led initiative or if you have any questions about the ANREV Index.

The ANREV Australia Monthly Index saw a total return of 0.70% in August 2017, the one year rolling return at 12.43% illustrate the strong performance of the Australian market. The ANREV Australia Core Open End Fund Monthly Index currently includes 17 funds with a total GAV of AUD 83.71 billion.

Please contact Amélie Delaunay at [email protected] or Henry Lam at [email protected] if you have any questions about the Index.

The newly launched ANREV Australia Monthly Index saw a total return of 0.36% in July 2017, the one year rolling return at 11.87% illustrate the strong performance of the Australian market. Office focused funds are delivering the best returns on a one year rolling return. The ANREV Australia Core Open End Fund Monthly Index currently includes 14 funds with a total GAV of AUD 69.88 billion.

Please contact Amélie Delaunay at [email protected] or Henry Lam at [email protected] if you have any questions about the Index.

The document is a distillation of information provided to ANREV by non-listed property vehicles, as well as publicly available information of other non-listed property vehicles, in order to give a view on the size and composition of the Asia Pacific non-listed property funds market over a particular period of time.

If you have any questions, please contact Henry Lam at [email protected]

Valuation of real estate assets is one of the most critical parts within the calculation of a real estate fund’s net asset value (“NAV”). In addition to determining the fair value of the underlying real estate asset(s), fund managers and investors have to take into account other actual or contingent assets and liabilities such as deferred taxation and minority interests in determining NAV at the fund level.

In April, ANREV hosted a round table where a number of investors, managers and advisors explored current market practices around the valuation of real estate assets and NAV determination for the holding funds, including geographical, market practice, accounting adjustments and governance.

This document is for members only. Please login if you do not see the downloads below

ANREV Professional Standards Committee would like to thank the participants who have engaged in the discussion as well as Paul Walters and Michael Atkinson from PwC, who kindly helped to facilitate the discussion and wrote this paper.

To learn more about this Committee, please click here.

It is an index showing the performance of non-listed real estate funds on a global scale and is created by ANREV, INREV and NCREIF. This publication includes the performance figures up to Q1 2017.

The GREFI was updated for the first time on a quarterly basis following the first quarterly release of the ANREV Index for Q1 2014. From Q1 2014 onwards, the GREFI has been updated 12 weeks after the quarter end. This index release follows the same structure of previous releases. The technical specification has also updated and all numbers are also available in an Excel file.

The GREFI Q1 2017 update release includes the performance of 523 funds compared to 479 funds as of Q4 2016. The GREFI includes funds in Asia Pacific (94), Europe (318), US (98) as well as funds with a global strategy (13). GREFI funds represent US$626.9 billion of total gross asset value with 49% in US funds, 33% in Europe, 15% in Asia Pacific and the remainder in global funds.

Please send your queries on this release to [email protected].

Non-core funds outperformed core funds in Q1 2017

• The ANREV All Funds index returned 3.4%
• Value added and opportunity funds returns were up in Q1 2017 at respectively 4.4% and 4.0%

Data contributions were received from 94 funds with a total gross asset value of US$94.9 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 in August.

To participate in the ANREV Index, please contact Amélie Delaunay at [email protected] or Henry Lam at [email protected] to take part in this industry-led initiative or if you have any questions about the ANREV Index.

In June’s issue, we have included: 

China

-       SAFE publishes Q&A providing further operational guidance on authenticity and compliance checks for cross-border transactions

-       Cross-border data transfers: China issues new measures to strengthen data localisation

-       SAFE publishes Q&A on overall macro-prudential management of cross-border financing

Global

-       Smart buildings - not all just bricks and mortar

Hong Kong

-       SFC consults on new guidelines on online distribution and advisory platforms

-       Prudential measures for property mortgage loans

Singapore

-       MOF announces measures relating to residential property

-       MAS consults on proposed amendments to Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations 2005

-       MAS consults on proposed framework for Singapore Variable Capital Companies

Thailand

-       New property tax regime within sight: what should we expect?

USA

-       US senators raise questions about CFIUS and real estate transactions

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