The ANREV Funds Termination Study examines the preferred termination options and associated issues among Asia Pacific closed end non-listed real estate funds.

The report also looks at trends in continuation strategies, the impact of current market conditions on fund managers' decision-making process, as well as other issues related to funds terminations.

  • ANREV is pleased to present the results of its fourth Fund Termination Study with a specific focus on the preferred termination options and associated issues among Asia Pacific non-listed real estate funds. 

    The survey was conducted between July and August 2021 through an online questionnaire. We received participation from 16 fund managers managing 22 non-listed real estate funds in Asia Pacific with a combined gross asset value (GAV) of US$8.2 billion.

    Fund Termination Study 2021PDF
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    Fund Termination Study 2021 - SnapshotPDF
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  • This is the third fund termination study conducted by ANREV. The survey aims to examine the options fund managers consider as their funds approach their termination dates. The survey was conducted in October 2019 through a questionnaire. We received participation from 11 fund managers managing 19 non-listed real estate funds in Asia Pacific with a combined gross asset value (GAV) of US$4.4 billion.

    Fund Termination Study 2019PDF
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    Fund Termination Study 2019 SnapshotPDF
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  • This is the second fund termination study conducted by ANREV. The survey aims to examine the options fund managers consider as the termination date of their fund approaches. The survey covers funds that are due to terminate in the coming two years as well as those that were liquidated in the past two years. We received participation from 21 funds managers managing 29 non-listed funds in Asia Pacific with a combined gross asset value (GAV) of US$6.43 billion.

    ANREV Fund Termination Study 2017PDF
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  • This is the first fund termination study done by ANREV. The survey intend to examine the options fund managers consider as the termination date of their fund approaches. The survey covers funds that are due to terminate in the coming two years together with funds that have been liquidated previously. We received participation from 35 funds managers about 52 non listed funds in Asia Pacific with a combined gross asset value (GAV) of US$17.2 billion.

    ANREV Fund Termination Study 2015PDF
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