The ANREV ODCE (Open End Diversified Core Equity) Fund Index turned negative in Q4 2025, posting net total returns of -0.57%, down from 0.00% posted in Q3 2025.

Key highlights:

• Capital growth slid to -1.24%, down from -0.68% posted in Q2 2025. While the distributed income return was down by 1 bp from the previous quarter, posting 0.67%.
• After taking out the currency impact of -1.38%, the index delivered a local currency equivalent net total return of 0.80%.
• The index features 8 funds with a total GAV of US$20.9 billion, covering 439 assets as of Q4 2025.

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