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Management Fees and Terms Study

Research highlights regional differences in total expense ratios

3 December 2019, Amsterdam – New research reveals a divergence of non-listed real estate total expense ratios (TER) between Asia Pacific and Europe. According to the INREV / ANREV Management Fees and Terms Comparison Study 2019, the average TER for non-listed real estate funds in Asia Pacific is 1.04% on a gross asset value basis (GAV) before performance fees, compared to 0.86% in Europe. The disparity also exists when TER is calculated on a net asset value (NAV) basis.