The third release of INREV’s ODCE Flash Report provides an early insight into the performance trend of European open end diversified core equity (ODCE) funds. It provides preliminary results just 15 business days after quarter end, ahead of the full release of the ODCE Index eight weeks after quarter end.
Key highlights:
- The preliminary total return stood at 1.23%, up 11 bps from 1.12% in Q4.
- Capital growth increased by 14 bps to 0.51%, as distributed income return marginally decreased by 3 bps to 0.72%.
- The Q1 2026 net capital inflow of €541.3 million was the second consecutive strong positive result, comprising of €577.2 million capital calls and €36.0 million redemptions.
- The Q1 2026 one year rolling return stood at 3.47%. The three-, five- and seven year average annual rolling returns were at -1.15%, 0.18% and 1.00% respectively.
For the first time, the flash report sample represents all 16 ODCE funds, with a total NAV of €31.4 billion. Results are preliminary and subject to change with the full ODCE Index publication.
Download the Q1 2026 ODCE Flash Report below.
ODCE Flash Report
Published on 22 Jan 2026
The ODCE Flash Report delivers an early snapshot of performance across European open end diversified core equity (ODCE) funds.
Developed in response to investors’ growing demand for timely access to performance data, the ODCE Flash Report is the first of its kind in the market. It provides preliminary results just 15 business days after quarter end, giving investors early visibility into the direction of European core real estate performance ahead of the comprehensive ODCE Index, released eight weeks after quarter end.