The Q3 2025 ANREV ODCE (Open End Diversified Core Equity) Fund Index posted flat net total returns of 0.00%, down from 5.47% posted in Q2 2025.

Key highlights:

• Capital growth currently stands at -0.68%, down from 4.80% posted in Q2 2025. While the distributed income return was up by 1 bp from the previous quarter, posting 0.68%.

• After taking out the currency impact of -1.14%, the index delivered a local currency equivalent net total return of 1.14%.

• The index features 8 funds with a total GAV of US$21.1 billion, covering 437 assets as of Q3 2025.

If you have any queries on the index, please contact Daisy Huang or Eileen Chiu.

The Q2 2025 ANREV ODCE (Open End Diversified Core Equity) Fund Index posted a net total return of 5.47%, up from 1.68% posted in Q1 2025.

Key highlights:

• Capital growth currently stands at 4.80%, up from 0.96% posted in Q1 2025. While the distributed income return was down by 5 bps from the previous quarter, posting 0.67%.
• After taking out the currency impact of 4.87%, the index delivered a Local Currency Equivalent Net Return of 0.60%.
• The index features 8 funds, with a total GAV of US$21.0 billion as of Q2 2025

For any feedback and comments, please contact Daisy Huang or Eileen Chiu.

The Q1 2025 ANREV ODCE (Open End Diversified Core Equity) Fund Index posted a net total return of 1.68%, up from -8.19% posted in Q4 2024.

Key highlights:

• Capital growth was up to 0.96%, while the distributed income return was down by 2 bps posting 0.72%.
• After taking out the currency impact of 1.76%, the index delivered a Local Currency Equivalent Net Return of -0.08%.
• The index features 8 funds, with a total GAV of US$20.1 billion as of Q1 2025

For any feedback and comments, please contact Daisy Huang or Eileen Chiu.

The Q4 2024 ANREV ODCE (Open End Diversified Core Equity) Fund Index posted a net total return of -8.19%, down from 5.92% posted in Q3 2024.

Key highlights:

• Capital growth slid to -8.93%, while the distributed income return was up by 3 bps posting 0.74%.
• After taking out the currency impact of -8.52%, the index delivered a Local Currency Equivalent Net Return of 0.34%.
• The index features 8 funds, with a total GAV of US$19.7 billion as of the end of 2024.

For any feedback and comments, please contact Daisy Huang or Eileen Chiu.

The Q3 2024 ANREV ODCE (Open End Diversified Core Equity) Fund Index posted a net total return of 5.92%, up 835 bps from -2.43% posted in Q2 2024.

Key highlights:

• Capital growth increased by 839 bps to 5.21%, while the distributed income return was down by 4 bps posting 0.71%.
• After taking out the currency impact of 5.98%, the index delivered a Local Currency Equivalent Net Return of -0.06%.
• The index features 8 funds, with a total GAV of US$21.5 billion as of the third quarter of 2024.

For any feedback and comments, please contact Daisy Huang or Eileen Chiu.

The Q2 2024 ANREV ODCE (Open End Diversified Core Equity) Fund Index results were released on 28 August 2024 and posted a net total return of -2.43%, up 147 bps from -3.90% posted in Q1 2024.

Key highlights:

• Capital growth increased by 143 bps to -3.18%, while the distributed income return stands at 0.75%.
• After taking out the currency impact of -1.23%, the index delivered a Local Currency Equivalent Net Return of -1.20%.
• The index features 8 funds, with a total GAV of US$20.6 billion as of the second quarter of 2024.

For any feedback and comments, please contact Daisy Huang or Eileen Chiu.

The Q1 2024 ANREV ODCE (Open End Diversified Core Equity) Fund Index results were released on 29 May 2024 and posted a net total return of -3.90%, down 773 bps from 3.83% posted in Q4 2023.

Key highlights:

• Capital growth dropped by 770 bps to -4.61%, while the distributed income return stands at 0.71%.
• After taking out the currency impact of -4.20%, the index delivered a Local Currency Equivalent Net Return of 0.30%.
• The index features 8 funds, with a total GAV of US$21.3 billion as of the first quarter of 2024.

Please provide feedback and comments to Daisy Huang or Eileen Chiu.

The Q4 2023 ANREV ODCE (Open End Diversified Core Equity) Fund Index results were released on 28 February 2024 and showed a net total return of 3.83%. This marks the first quarter of positive returns following three consecutive quarters of negative returns.

Key highlights:

• Capital growth recovered to 3.14%, while the distributed income return stands at 0.69%.
• After taking out the currency impact of 4.47%, the Local Currency Equivalent Net Return is reported at -0.64%.
• The index features 8 funds, accounting for US$22.3 billion of GAV as of the fourth quarter of 2023.

Please provide feedback and comments to Daisy Huang or Eileen Chiu.

The Q3 2023 ANREV ODCE (Open End Diversified Core Equity) Fund Index results were released on 29 November 2023 and showed a net total return of -2.64%. This marks the third consecutive quarter of negative returns from the index.

Key highlights:

• Capital growth remained negative at -3.36%, while the distributed income return stands at 0.73%.
• After taking out the currency impact of -2.16%, the Local Currency Equivalent Net Return is reported at -0.47%.
• The index includes 8 funds, accounting for US$21.5 billion of GAV as of the third quarter of 2023.

Please provide feedback and comments to Daisy Huang or Eileen Chiu

The Q2 2023 ANREV ODCE Fund Index - Open End Diversified Core Equity (ODCE) results were released on 30 August 2023 and showed a total net return of -3.33% for 8 funds.

Please provide feedback and comments to Daisy Huang or Eileen Chiu.