The ANREV Management fees and terms study explores fees and costs structures of Asia Pacific non-listed real estate funds with a focus on total expense ratios (TERs) and real estate expense ratios (REERs).

For the first time in 2020 the study will also cover the first data on the Total Global Expense Ratio (TGER) which is the new global standards adopted by ANREV, INREV and NCREIF PREA reporting standards to facilitate comparison of fees and costs between real estate investment vehicles that operate across the different regions.

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.25% in September 2020. The ACOE includes 19 funds with a total GAV of AUD 111.55 billion.

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

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

Tackling transparency is the top priority for new ANREV chairman Willem de Geus, in order to attract more capital to non-listed Asia Pacific real estate.

De Geus, who took over from founding chairman Nicholas Loup in September, is a long-time advocate of improved transparency and information in the real estate sector and was involved in the launch of EPRA, the European Public Real Estate Association, in 1999 and INREV, ANREV’s European sister organisation, in 2003. He has been involved with ANREV since its earliest days and was behind the close alignment with INREV.

Member and non-members can download the full interview.

ANREV has launched the third release of the ANREV ODCE Asset Level Performance Consultation Report.

The ANREV Asset Level Performance Report is not an index as the coverage is limited to assets held by 6 funds with a pan Asia core open end strategy.

The ANREV Asset Level Performance Report results are based on asset level data that is provided to ANREV directly from managers. Data collection starts immediately after a quarter has ended for a period of up to 6 weeks after quarter end.

Please provide feedback and comments to Kip Kong or Amélie Delaunay.

ANREV has launched the Q2 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 Q2 2020 sample of the ANREV IRR index includes 79 funds. 

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

The third Global IRR Index consultation release includes 316 closed end funds across vintages from pre-2002 to 2018 with a non-core manager defined strategy.

Key highlights include:

> The third consultation release of the Global IRR Index includes 316 funds with non-core strategies, comprising of 270 value added and 46 opportunity funds
> This Global IRR Index release features 79 Asia Pacific, 102 European and 135 US funds
> Funds launched in 2013 and 2010 delivered the highest performance with an equally weighted IRR of 18.5% and 17.8%, respectively

In light of the COVID-19 pandemic, ANREV has conducted two additional surveys investigating market sentiment and funds’ valuations under COVID-19.
 
The market sentiment survey targeted senior investors and investment managers and asked their views on the impacts of the pandemic on Asia Pacific markets. 

The ‘Impact of COVID-19 on valuations’ survey was distributed to fund managers during the data collection of ANREV Quarterly Index Q2 2020. The manager were asked to fill in this extra questionnaire to look into the impact of the “Material Uncertainty clause” on assets’ valuations, suspension of trading and status of rent collection.

The snapshot summarising the findings of the 'market sentiment' and ‘Impact of COVID-19 on valuations’  surveys can be downloaded here.