ANREV, INREV and NCREIF present the twelfth 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$348.6 billion.

Key highlights:

• The Global ODCE fund index delivered a net total return of 0.42% in Q4 2025, down 3 bps from Q3.

• European ODCE funds outperformed the other regions, posting a total return of 1.12%, followed by the US with 0.70%, then Asia Pacific with -0.57%.

• Capital growth remained negative for the second consecutive quarter, with -0.34%, up by 4 bps from the previous quarter. While the accrual-based income return decreased by 8 bps, delivering 0.75%.

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