The ANREV Australia Monthly Index saw a total return of 0.66% in November 2017, the one year rolling return at 12.29% illustrating the strong performance of the Australian market.  The ANREV Australia Core Open End Fund Monthly Index currently includes 17 funds with a total GAV of AUD 87.42 billion.

Please contact Amélie Delaunay at [email protected] or Daisy Huang at [email protected] if you have any questions about the Index.

• Funds of funds delivered positive returns of 7.7% in 2016

• Open end vehicles outperformed their closed end peers in 2016

• Core vehicles returned 7.9% while non-core generated 7.1%

Four consecutive years of positive growth saw funds of funds achieve a positive return of 7.7% in 2016, making 2016 the fifth best year since 2005.

In total, ANREV and INREV Funds of Funds Universes (‘Universe’) contains 58 funds of funds that are managed by 24 managers. Collectively these vehicles represent a total Net Asset Value (NAV) of $12.9 billion.  Nine fund of funds indicated their preference to remain anonymous and therefore the online vehicles universe only shows 49 funds of funds.  Performance data was based on 16 vehicles. 

The performance data presented in this report is not intended to serve as a benchmark and should be used for research and information purposes only.

For further information please contact [email protected]

In November’s issue, we have included: 

Australia

              -       New Australian corporate collective investment vehicle – an attractive option for offshore investors in

             Australian property?

China

-       Guidelines on outbound investment

-       Interim Regulations on the Administration of Privately Placed Investment Funds

Hong Kong

-       SFC publishes conclusions on proposals to enhance asset management regulations and point of sale transparency

-       SFC issues circular on common instances of non-compliance in managing funds and discretionary accounts

-       SFC identifies irregularities in private funds and discretionary accounts

-       FSDC releases report on promoting Hong Kong’s private equity fund businesses

Singapore

-        MAS responds to feedback on review of competency requirements for representatives conducting regulated activities under the SFA and FAA

-        MAS consults on changes to notification requirements in relation to representatives of financial institutions serving only non-retail customers

Korea

-        The Ministry of Strategy and Finance announced Korea’s 2017 Tax Revision Proposal

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

The ANREV Australia Monthly Index saw a total return of 0.34% in October 2017, the one year rolling return at 12.21% illustrating the strong performance of the Australian market.  The ANREV Australia Core Open End Fund Monthly Index currently includes 17 funds with a total GAV of AUD 86.75 billion.

Please contact Amélie Delaunay at [email protected] or Daisy Huang at [email protected] if you have any questions about the Index.

PwC and ANREV are delighted to publish the results of our real estate fund managers’ benchmarking survey, which was designed to gather, analyse, and share information about key industry operational trends and metrics of real estate fund managers with significant operations in Asia Pacific. We gathered data covering industry practices relating to organisational information, governance, risk management, administration,valuation, technology and operations, regulatory information and reporting. This report represents the summary of the data and includes key takeaways, by section, to assist you with your review.

Given the data is collected from various fund managers with different business models and structures, the same operational arrangement does not apply to all the fund managers. Naturally the scale of investment mandates, the number, location and diversity of investments, reporting and governance needs of investors, together with the institutionalisation of the wider business, are factors which will impact the operational structures needing to be put in place. Thus, we have explored how the practices may vary depending on the geographical locations and the size of the managers.

PwC conducted this survey to explore trends that would help real estate fund executives and management teams benchmark their practices against their industry peers. We have extracted some key takeaways on the next page. We hope that you find our results and analysis helpful.

This document is for members only.

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