The INREV Quarterly Fund Index delivered a total return of 2.64% in Q2, as aggregate fund performance softened by 65 bps from 3.29% achieved in Q1.
The Q2 release includes 337 funds with a combined GAV of €337.3 billion.
Key highlights:
- Capital growth of 1.93% representing a reduction of 71 bps on the first quarter was the main driver of this decrease in overall performance. Distributed income return grew marginally in the quarter, up by 6 bps to 0.71%.
- Value added funds outperformed, recording a quarterly total return of 2.73%, while their core peers followed slightly behind with a total return of 2.63%.
- Industrial sector performance has fallen back in the last two quarters but remains the strongest sector by far. Retail funds continue to improve, and offices are the weakest sector for the fourth consecutive quarter.
- The overall performance of German funds, representing 11% of the All Funds Index, improved marginally in Q2 to 2.26%, up from 2.20% last quarter. Performance of funds with a Dutch, UK and or Multi-country strategy, representing a combined 33% of the index, all weakened in Q2.
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INREV Quarterly Index
Last updated on 13 Mar 2024
The INREV Index is a performance index for European non-listed real estate funds investing 90% or more in Europe. The information for the quarterly goes back to Q2 2000. The Quarterly Index is published 8 weeks after the end of the quarter, and reports are available in PDF format. The reports cover the performance of non-listed funds in Euro, USD, GBP, JPY, AUD and in Local Currency and are available for members only, please login to download.