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Regional fund performance converges in Q1 2018

The GREFI All Funds Index returned 2.19% in Q1 2018 compared with 2.73% over the previous quarter.

Key highlights:

  • All regions but global showed performance within 30 bps of each other - European funds delivered 2.27%, compared with 2.43% for Asia Pacific and 2.13% for the US. Funds with a global strategy delivered 0.74% total return over the first quarter.
  • By style, non-core funds outperformed core funds once again with a quarterly return of 2.59% compared with 2.10% for core. US and European non-core funds outpaced the GREFI All Funds Index with a return of 2.65% and 2.60% respectively.
  • The GREFI Open End Funds Index returned 2.19%. European open end funds outperformed other regions, delivering quarterly returns of 2.41% over Q1 2018, versus 2.22% for Asia Pacific and 2.14% for US.

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Global Real Estate Fund Index (GREFI) Quarterly  

Published on 25 Sep 2018

The Global Real Estate Fund Index (GREFI) is jointly produced by INREV, ANREV and NCREIF and measures the performance of non-listed real estate vehicles on a global scale.

Please send feedback to edgar.orlovskis@inrev.org, daisy.huang@anrev.org, or ddierking@ncreif.org

The GREFI is an index showing the performance of non-listed real estate funds on a global scale. The GREFI is updated on a quarterly basis and is published 12 weeks following the quarter end.

The aims of the GREFI are to improve transparency of real estate as an asset class and to help our members make better informed investment decisions. As an industry, it is vital that we work towards being able to make robust global and intra-regional comparisons.

This initiative represents the integration of three member-driven non-profit organisations to meet the data collection and information needs of their expanding global activities, and to serve as the basis for further collaboration in the future.