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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.


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.