Welcome to the June 2020 update of the Global Real Estate Fund Index (GREFI). It is an index showing the performance of non-listed real estate funds on a global basis and is created by ANREV, INREV and NCREIF. This publication includes performance figures up to end of Q1 2020.

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

The history of the Global Real Estate Fund Index (GREFI) has been extended to Q1 2005, now offering almost 15 years of performance across all regions. 

The GREFI All Funds Index delivered a total return of 0.28% over Q1 2020, down from 1.78% posted over Q4 2019, according to the latest release of the Global Real Estate Fund Index (GREFI).

Key highlights:

• Total returns stood at -1.36% for Asia Pacific funds, 0.22% for European funds and 0.98% for US strategy funds over Q1 2020
• GREFI Non-core funds posted the lowest return since the last 10 years, with a quarterly performance of 0.22% over Q1 2020.

From Q3 2018 edition onward, the GREFI Index will no longer include US closed end value added funds (NPI - CEVA Index)

Please send any queries to Daisy Huang , Kip Kong or Amélie Delaunay.