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Continued decline in ODCE index performance during Q3

The Q3 2023 European ODCE Index delivered a -2.55% return, down by 59 basis points compared to the previous quarter

Key highlights:

  • The capital growth of –3.11% dropped by 0.38% compared to Q2 2023.
  • At the end of Q2 2023, the gross asset value (GAV) of the index stood at €42.6 billion across the 16 participating funds, €1.2 billion below the previous quarter.
  • The share of the office sector continued to decline, initiated 15 quarters ago, and currently represents 31% of the total GAV of the index.
  • The net capital flows stood at €180 million at the index level. This represents a major drop compared to the €616 million equivalent reported in Q2 2023 but remains positive.

Download the report, Excel, snapshot and the ODCE Management Fees and Terms report below.

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European ODCE Quarterly Index  

Published on 21 Nov 2023

The Index is wholly comprised of open end core commingled equity real estate funds that have a strategy to invest across pan Europe and across multiple sectors. Funds must comply with a strict eligibility criteria for four consecutive quarters in a row to be included in the index.