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Younger funds show moderation in Q1 2021 performance

Funds that had the first closing between 2017 and 2019 recorded an IRR of 6.6% on a pooled basis, down from 8.4% in Q4 2020

Key highlights:

  • Core funds launched between 2011 and 2013 outperformed all other core pooled vintages, showing a since inception IRR of 8.7% on a pooled basis
  • IRRs for 2019 vintage funds turn negative in Q1 2021
  • Recently launched 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 14 Jun 2022

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.