The Q2 2025 ANREV index included data contributions from 79 funds with a total gross asset value of US$142.8 billion.

Key highlights:

• ANREV’s All Funds Index posted a total return of 1.91% in Q2 2025, up from 0.88% posted in the previous quarter.

• Core funds with a total return of 2.34%, outperformed value-added and opportunistic funds which posted 0.41% and -1.32% respectively.

• Multi country strategy funds outperformed other single country strategy funds, posting total returns of 2.62%, Australian funds maintained their third consecutive quarter of positive performance with 1.51%.

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.