The second net / gross return report shows a three months' total gross return of 1.77% for the period between October and December 2019.

The net / gross return report is a supplementary report to the ANREV Australia Core Open End Fund Monthly Index (ACOE) published one month after every quarter showing aggregated gross returns of the 19 ACOE funds.

Please contact Daisy Huang at [email protected] or Draco Mok at [email protected] if you have any questions regarding the Index.

ANREV is pleased to present the results of its seventh global Investment Intentions Survey with a specific focus on non-listed real estate funds. The survey was conducted in conjunction with the European Association for Investors in Non-listed Real Estate Vehicles (INREV) and the Pension Real Estate Association (PREA). By joining the forces of all three organizations, the survey is able to present a truly global view on expected trends and investment intentions within the real estate industry. This is the thirteenth edition of the regional survey which attracted 140 respondents: 125 investors (89.3%), and 15 funds of funds managers (10.7%).

Chapter 2 explores global real estate allocations, providing insight into investment trends globally and is based on the full sample of respondents. This is a common section that can also be found in the INREV and PREA 2020 Investment Intentions reports.

Chapters 3 through 7 focus on the Asia Pacific real estate market, including insights on preferred structures, markets, sectors, styles and trends. These chapters are based only on those investors and fund of fund managers who are already investing in the Asia Pacific market or intend to do so in the next two years.

ANREV has launched the Q3 2019 IRR Index by vintage. The IRR Index measures performance of value added and opportunistic non-listed closed end funds investing in Asia Pacific.

The Q3 2019 sample of the ANREV IRR index includes 72 funds.

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

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.98% in December 2019. The ACOE includes 19 funds with a total GAV of AUD 113.78 billion.

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

Please contact Daisy Huang at [email protected] or Draco Mok at [email protected] if you have any questions regarding the Index.

Welcome to the January 2020 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 Q3 2019.

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 return showed a slight increase over Q3 2019 with a total return of 1.39% compared with 1.31% recorded over Q2, according to the latest release of the Global Real Estate Fund Index (GREFI).

Key highlights:

• Global strategy funds take the lead, outperforming European, US and Asia Pacific funds
• Non-core funds outperformed core funds with returns of 1.74% and 1.33% respectively

From Q3 2018 edition onward, the GREFI Index will no longer include US closed end value added funds (NPI - CEVA Index)

Please send any queries to Daisy Huang , Kip Kong or Amélie Delaunay.

•The ANREV’s All Funds index returned 1.13% in Q3 2019, down from 2.11% in Q2.

•Value added funds underperformed with a reported return of -3.01% vs 1.57% for core and 2.41% for opportunity funds.

Data contributions were received from 100 funds with a total gross asset value of US$133.3 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 at [email protected] or Kip Kong at [email protected].

The ANREV Australia Core Open End Fund Monthly Index (ACOE) saw a total return of 0.27% in November 2019. The ACOE includes 19 funds with a total GAV of AUD 113.70 billion.

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

Please contact Daisy Huang at [email protected] or Draco Mok at [email protected] if you have any questions regarding the Index.

The industry looks for common metrics to report and compare performance of real estate investment vehicles that operate across different regions of the globe.

However, in practice we use different NAV calculations in different regions. To better understand the differences between IFRS, INREV NAV and US GAAP Fair Value NAV a comparison and first gap analysis was developed by INREV, ANREV, the NCREIF and PREA Reporting Standards.

The resulting short paper explains the main differences when calculating NAVs across regions and the potential impact of these differences.

This is an initiative from the Global Standards Steering Committee.