The number of non-listed real estate funds captured by the Anrev Asian Vehicles Database reached 84 representing USD60bn gross asset value in the first six months of 2010.

With Anrev estimating that the universe is around 261 funds representing USD130bn GAV, the database represents 32 per cent coverage by the number of funds and 46 per cent by GAV.

“The growing number of fund managers supporting this initiative demonstrates the industry’s clear focus on improving market transparency in the region. We expect to exceed 50 per cent coverage by the end of the year as we continue to develop the database with the support of our investor members, who have been actively encouraging their managers to deliver fund data,” says Anrev executive director Jeremy Stewardson.

The 84 funds in the database are managed by 34 managers globally.

Analysis of the universe shows that the non-listed property funds industry has increased substantially over the past decade, particularly since 2004 with both the number and value of funds under management growing five folds to 261 funds by June 2010.

The analysis also highlights the diversity of products available in Asia. Historically, the Asian non-listed property funds market was dominated by core style funds. The landscape has undergone significant change since 2004 with the rapid growth of opportunity style funds. Anrev estimates the share of total GAV invested in opportunity funds has doubled since 2004, up from 22 per cent to 45 per cent.

Around two thirds of the Asian non-listed property funds universe comprises single country funds. In the main, they target mature markets such as Australia (43 funds) and Japan (40 funds). However, there is also a growing number of funds focused on the developing markets such as China (33 funds) and India (32 funds).