ANREV has launched the Q4 2020 IRR Index by vintage. The IRR Index measures performance of value added and opportunistic non-listed closed end funds investing in Asia Pacific.

The Q4 2020 sample of the ANREV IRR index includes 77 funds. 

We welcome any questions or comments - please email Daisy Huang or Kip Kong.

In March’s issue, we have included:     
              

Australia

• New foreign investment laws in place from 1 January 2021
• CORIE framework launched to test cyber resilience of Australia's financial services industry
• ASIC issues information sheet on managing conduct risk during LIBOR transition

Cayman Islands

• DITC Economic Substance update – January 2021
• Cayman Islands and the FATF "Monitoring List"

China

• China and EU reach agreement in principle on investment

Hong Kong

• Bill providing tax concessions for carried interest distributed by eligible private equity funds operating in Hong Kong gazetted
• SFC previews new electronic licensing services
• SFC shares inspection findings of anti-money laundering/counter-financing of terrorism controls and compliance practices

Japan

• FSA announces publication of first report by Working Group on Capital Market Regulations of Financial System Council

Korea

• FSC to promote role of securities firms in corporate financing and venture capital market

Singapore

• Guidelines on Environmental Risk Management for Asset Managers
• MAS announces launch of grant scheme to support green and sustainability-linked loans

Lastly, we would like to thank our committee who helped putting together the newsletter. Details about this committee can be found here.

Welcome to the March 2021 update of the Global Real Estate Fund Index (GREFI). It is an index showing the performance of non-listed real estate funds on a global basis and is created by ANREV, INREV and NCREIF. This publication includes performance figures up to end of Q4 2020.

The GREFI All Funds Index was updated for the first time on a quarterly basis following the second quarterly release of the ANREV Index for Q1 2014. From Q1 2014 onwards, GREFI has been updated 12 weeks after the quarter end. This index release follows the same structure of previous releases. All numbers are also available in an Excel file.

The history of the Global Real Estate Fund Index (GREFI) has been extended to Q1 2005, now offering almost 15 years of performance across all regions. 

The GREFI All Funds Index delivered a total return of 1.80% over Q4 2020, up from 0.83% posted over Q3 2020, according to the latest release of the Global Real Estate Fund Index (GREFI).

Key highlights:

Total returns improved across all regional strategies, with Asia Pacific funds in the lead in Q4, while European funds outperforming on a 1 year rolling basis.

GREFI non-core funds continued to outperform core vehicles, with the Q4 total returns of 2.73% and 1.64% respectively.

Please send any queries to Daisy Huang  or Amélie Delaunay.

In light of the COVID-19 pandemic, ANREV has conducted an additional survey investigating funds’ valuations under COVID-19.

The ‘Impact of COVID-19 on valuations’ survey was distributed to fund managers during the data collection of ANREV Quarterly Index Q4 2020. They were asked to fill in the extra questionnaire to look into the impact of the “Material Uncertainty clause” on asset valuations, suspension of trading and status of rent collection.

For any questions, please contact Amélie Delaunay.

•ANREV’s All Funds Index returned 3.05% in Q4 2020, up from 1.62% in Q3 2020.

•Value added funds outperformed core and opportunity funds with returns of 5.41% versus 2.77% and 1.88% respectively.

Data contributions were received from 79 funds with a total gross asset value of US$131.4 billion. Further detail of the sub-indices which cover fund style and various geographies can be found in the full report.

We would like to thank all the companies that supported the data collection exercise and look forward to your continued support in the next round of data collection.

If you have any questions about the ANREV Index or want to take part in this industry-led initiative, please contact Daisy Huang or Kip Kong.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.41% in February 2021. The ACOE includes 19 funds with a total GAV of AUD 112.49 billion.

The ACOE Index also reports data on geographic allocation by sectors.

Please contact Kip Kong if you have any questions regarding the Index.

The ANREV Australia Farmland Index provides financial performance of 42 different properties of market value over $1.07 billion in farmland.

ANREV Australia Farmland Index returned 11.69% on a 12 month rolling basis in Q4 2020.

On an annualized rolling return basis, the income return was at 7.31% in Q4 2020.

Capital growth rose to 4.11% in Q4 2020 on a 12 month rolling basis.

We would like to thank all the managers for their data contribution.

If you have any questions about the Index, please contact Daisy Huang or Katrina Wong.