The 2013 full year results of the ANREV Annual Index show that the performance of Asia Pacific non-listed real estate funds performance has improved compared to 2012.
The headline returns for the “All Funds” index show an overall return of 9.2 per cent, an increase from 7.7 per cent in 2012.
The ANREV Annual Index 2013 included participation of 91 funds with a total gross asset value of USD87 billion.
The increased sample size also allowed ANREV to publish sub-indices on structure and sector for the first time. The structure sub-indices shows that open end funds outperformed closed end funds in 2013, which was not the case in 2012. Single sector funds outperformed multi sector funds in 2013.
In terms of geographies, single country funds in Japan and China were strong performers compared to multi country funds. Japanese non-listed real estate funds recovered after a negative return in 2012 to return 9.4 per cent in 2013.
“Coverage of the ANREV Index has continued to improve with 91 funds included in the 2013 annual Index compared with 65 in 2012. This is another important step forward in our efforts to make the Anrev Index more robust. The ANREV Index Input and Analysis tools, launched last year, not only helps fund managers to contribute data more easily but also provides members with further performance analysis possibilities and enables them to create tailor-made benchmarks to compare performance of their funds using specific criteria,” says Amélie Delaunay, director of research and professional standards at ANREV.
“The ANREV index has improved the coverage substantially and shortened the publication date. I believe this is a great achievement by the ANREV team and very important for the non-listed industry in the ongoing process of further professionalisation,” says Maarten van der Spek, senior strategist real estate at major Dutch investor PGGM.
ANREV’s index data, together with INREV and NCREIF index data, contributes to the Global Real Estate Fund Index that measures the performance of non-listed real estate vehicles on a global basis.
Global non-listed real estate funds showed a dramatic uptick in 2013, with overall returns of 8.08 per cent, according to the Global Real Estate Fund Index.
The global gains were driven largely by positive performances in Asia at 9.22 per cent and the US at 13.23 per cent. Europe also performed well with the INREV Quarterly Index posting total returns of 3.53 per cent in 2013, compared with -0.50 per cent in 2012.