Welcome to the March 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 Q4 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 returns showed an improvement over Q4 2019 with a total return of 1.86%,up from 1.39% posted over Q3, according to the latest release of the Global Real Estate Fund Index (GREFI).

Key highlights:

• Asia Pacific funds posted a total return of 2.42% over Q4 2019, outperforming European, US and Global strategy funds
• European non-core funds posted a quarterly return of 3.00% over Q4 2019, outperforming Asia Pacific and US non-core funds

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.