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Younger closed end funds show improved performance in Q2 2021 

Funds that had the first closing between 2017 and 2019 recorded a since inception IRR of 7.5% on a pooled basis, up from 6.6% in Q1 2021

Key highlights

  • Core funds launched between 2011 and 2013 outperformed all other core pooled vintages, showing a since inception IRR of 8.8% on a pooled basis
  • IRRs for 2019 vintage funds remain negative in Q2 2021, despite some improvement
  • Younger single sector funds outperformed multi sector funds on both a pooled and an equally weighted basis

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INREV Internal Rate of Return (IRR) Quarterly Index  

Published on 15 Sep 2021

The IRR Index measures the since inception internal rate of return performance of European closed end non-listed real estate vehicles. Performance is measured net of fees and costs, and is computed on both a pooled return basis and an equally weighted basis.