The fourth 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 0.69%, down 59 bps from 1.28% in Q1.
- Capital growth dipped to -0.01%, as most funds reported quarter-on-quarter declines in capital values. Distributed income return decreased by 3 bps to 0.70%.
- The Q2 2026 net capital inflow was €701.7 million, comprising €783.5 million in capital calls and €81.8 million in redemptions.
- The Q2 2026 one year rolling return stood at 3.98%. The three-, five- and seven year average annual rolling returns were at -0.25%, -0.12% and 0.97%, respectively.
The Flash Report sample represents all 16 ODCE funds, with a total NAV of €32.1 billion. Results are preliminary and subject to change with the full ODCE Index publication.
Download the Q2 2026 ODCE Flash Report below.
ODCE Flash Report
Published on 20 Jul 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.