The INREV Annual Fund Index delivered a total return of -4.36% in comparison to -1.34% in 2022.
The latest annual release includes 341 funds with a combined GAV of €316.7 billion as of the end of 2023.
Key highlights:
- Capital growth of -7.36% was the main driver of this year’s performance whilst distributed income return decreased to 3.00% from 3.87% in 2022.
- Core funds outperformed their value-added peers, core funds’ gearing was 22.4% compared to value-added funds’ 44.3%.
- Retail was the top-performing single-sector strategy for the second consecutive year. It was also the only sector strategy to report a positive total return of 0.56% in 2023.
- French and German funds were the outstanding performers amongst the single-country strategy funds and were the only countries reporting positive returns (3.80% and 1.56% respectively).
View detailed analysis via the Index Analysis Tool or download the report, Excel and snapshots below.
INREV Annual Index
Last updated on 23 Apr 2024
The INREV index is a performance index for the European non-listed real estate funds investing 90% of GAV or more in Europe. The INREV Index measures annual Net Asset Value based performance. The information for the annual index goes back to 2001. The Annual Index is published in the third week of April. INREV members are able to analyse the INREV Index in more depth on the INREV website using the INREV Index Analysis Tool..org (47)