The ANREV Quarterly Index measures the net asset value performance of Asia Pacific non-listed real estate funds on a quarterly basis. Performance is measured net of fees and costs.

The Index was launched in 2012 and is now published 11 weeks after quarter end. The ANREV Quarterly Index is an unfrozen index, in which the historical data can change with future updates.

The Index results are based on the fund level data that is provided to ANREV directly from the managers. Data collection starts in the 5th week after quarter end. ANREV encourages managers to deliver data via the Data Input Tool.

  • The Q4 2023 ANREV index included data contributions from 71 funds with a total gross asset value of US$135.4 billion.

    Key highlights:

    • ANREV’s All Funds Index posted a total return of -0.97% in Q4 2023, down from -0.93% recorded in Q3 2023.
    • Value-added funds reported the only positive total returns of 3.24% over the quarter, outperforming both core and opportunity funds which reported -1.45% and -0.11% respectively.
    • The underperformance from the Index was highly impacted by the continued negative performance of the Australian funds which posted -2.66% this quarter. The All Funds ex Australia Index saw a recovery, posting a total return of 2.86%.

    Further details of the sub-indices which cover different fund styles and various geographies can be found in the full report.

    We would like to thank all the funds that contributed data, and look forward to your continued support in the next round of data collection.
    If you have any questions about the index or wish to take part in this industry-led initiative, please contact Daisy Huang or Eileen Chiu.

    ANREV Quarterly Index Q4 2023PDF
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    ANREV Quarterly Index Q4 2023 Excel SupplementXLSX
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    ANREV Quarterly Index Q4 2023 SnapshotPDF
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    • ANREV’s All Funds Index returned -0.97% in Q3 2023, up from -2.43% in Q2 2023.
    • Opportunity funds was the only one posting positive total returns of 0.75% over the quarter, outperforming both core and value-added funds which returned -1.03% and -0.93% respectively.
    • Closed-end funds with a total return of -0.10% outperformed its open-end counterparts which posted -1.13%.

    Data contributions were received from 78 funds with a total gross asset value of US$144.0 billion. Further detail of the sub-indices which cover different fund styles and various geographies can be found in the full report.

    We would like to thank all the funds that contributed data, and look forward to your continued support in the next round of data collection.

    If you have any questions about the index or wish to take part in this industry-led initiative, please contact Daisy Huang or Eileen Chiu.

    ANREV Quarterly Index Q3 2023PDF
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    ANREV Quarterly Index Q3 2023 Excel SupplementXLSX
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    ANREV Quarterly Index Q3 2023 SnapshotPDF
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    • ANREV’s All Funds Index returned -2.45% in Q2 2023, down from 0.31% in Q1 2023.
    • All sub-indices funds reported negative returns in this quarter.
    • Value added funds returned -0.78% over the quarter, outperforming both core and opportunity funds which returned -2.73% and -1.01% respectively.

    Data contributions were received from 78 funds with a total gross asset value of US$151.3 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 or Eileen Chiu.

    ANREV Quarterly Index Q2 2023PDF
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    ANREV Quarterly Index Q2 2023 Excel SupplementXLSX
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    ANREV Quarterly Index Q2 2023 SnapshotPDF
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  • • ANREV’s All Funds Index returned 0.33% in Q1 2023, up from 1.68% in Q4 2022.

    • Value added funds outperformed core and opportunity funds with returns of 1.99% versus 0.13% and 1.49% respectively.

    Data contributions were received from 77 funds with a total gross asset value of US$156.3 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 or Justin Wong.

    ANREV Quarterly Index Q1 2023PDF
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    ANREV Quarterly Index Q1 2023 Excel SupplementXLSX
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    ANREV Quarterly Index Q1 2023 SnapshotPDF
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  • • ANREV’s All Funds Index returned 1.80% in Q4 2022, up from 0.22% in Q3 2022.

    • Value added funds outperformed core and opportunity funds with returns of 4.51% versus 1.50% and 2.68% respectively.

    Data contributions were received from 75 funds with a total gross asset value of US$144.5 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 or Justin Wong.

    ANREV Quarterly Index Q4 2022 SnapshotPDF
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    ANREV Quarterly Index Q4 2022PDF
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    ANREV Quarterly Index Q4 2022 Excel SupplementXLSX
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  • • ANREV’s All Funds Index returned 0.23% in Q3 2022, down from 0.89% in Q2 2022.

    • Core funds outperformed value added and opportunity funds with returns of 0.76% versus -3.60% and -2.57% respectively.

    Data contributions were received from 80 funds with a total gross asset value of US$148.4 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 or Justin Wong.

    ANREV Quarterly Index Q3 2022 SnapshotPDF
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    ANREV Quarterly Index Q3 2022PDF
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    ANREV Quarterly Index Q3 2022 Excel SupplementXLSX
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  • • ANREV’s All Funds Index returned 0.87% in Q2 2022, down from 1.94% in Q1 2022.

    • Core funds outperformed value added and opportunity funds with returns of 1.62% versus -4.01% and -6.01% respectively.

    Data contributions were received from 76 funds with a total gross asset value of US$152.4 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 or Justin Wong.

    ANREV Quarterly Index Q2 2022 SnapshotPDF
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    ANREV Quarterly Index Q2 2022PDF
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    ANREV Quarterly Index Q2 2022 Excel SupplementXLSX
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  • • ANREV’s All Funds Index returned 1.91% in Q1 2022, down from 5.09% in Q4 2021.

    • Value added funds outperformed core and opportunity funds with returns of 2.52% versus 1.96% and -0.48% respectively.

    Data contributions were received from 83 funds with a total gross asset value of US$155.3 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 or Justin Wong.

    ANREV Quarterly Index Q1 2022 SnapshotPDF
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    ANREV Quarterly Index Q1 2022PDF
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    ANREV Quarterly Index Q1 2022 Excel SupplementXLSX
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  • • ANREV’s All Funds Index returned 4.69% in Q4 2021, up from 1.57% in Q3 2021.

    • Core funds outperformed value added and opportunity funds with returns of 5.15% versus 1.82% and 0.62% respectively.

    Data contributions were received from 73 funds with a total gross asset value of US$143.4 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 or Justin Wong.

    ANREV Quarterly Index Q4 2021 SnapshotPDF
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    ANREV Quarterly Index Q4 2021PDF
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    ANREV Quarterly Index Q4 2021XLSX
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  • • ANREV’s All Funds Index returned 1.54% in Q3 2021, down from 3.60% in Q2 2021.

    • Core funds outperformed value added and opportunity funds with returns of 1.62% versus 0.93% and 1.54% respectively.

    Data contributions were received from 87 funds with a total gross asset value of US$151.1 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.

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

    ANREV Quarterly Index Q3 2021 SnapshotPDF
    Download
    ANREV Quarterly Index Q3 2021PDF
    Download
    ANREV Quarterly Index Q3 2021XLSX
    Download