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Global ODCE net total return increased slightly to -2.43% in Q3 2023

The third edition of the Global ODCE Index again saw negative performance continuing across Asia Pacific, Europe and the USA.

The Q3 2023 release features the performance of 49 funds with a combined GAV of US$ 376 billion.

Key highlights:

  • Q2 was the fifth consecutive quarter of negative performance as all three regional ODCE indices again showed negative returns. The US outperformed the other regions with a total return of -2.10%, followed by Europe with -2.55%, and -2.64% in Asia Pacific.
  • Other than Europe, all regions saw a quarter-on-quarter increase in performance.

On a five-year annualised basis, the Global ODCE Index shows an aggregated total return of 3.35%. Out of the three regions, the US showed the highest annualised total return of 4.72%, Asia Pacific posted 3.40%, while Europe delivered 1.67%.

The Global ODCE (open end diversified core equity) fund index was launched in July 2023 by ANREV, INREV and NCREIF. Performance is calculated in the reporting currency and aggregated by converting to USD.

View detailed analysis via the Index Analysis Tool or download the report, Excel and snapshots below.