ANREV, INREV and NCREIF present the eleventh edition of the Global ODCE (open end diversified core equity) fund index, consisting of 49 funds with a combined total gross asset value of US$347.1 billion.

Key highlights:

• The Global ODCE fund index delivered a net total return of 0.45% in Q2 2025, down from 2.18% in the previous quarter.

• European ODCE funds outperformed the other regions, posting a total return of 0.83%, followed by the US with 0.52%, then Asia Pacific with flat returns of 0.00%.

• Capital growth turned negative in Q3 with -0.38%, down from 1.38% posted in Q2 2025. While the accrual-based income return increased by 4 bps, delivering 0.83%.

 Please contact Daisy Huang or Eileen Chiu should you have any questions regarding the index.