The 2013 ANREV Index covers the performance of Asian Pacific non-listed real estate funds.
Japan recovery
The results of the ANREV Annual Index show that Asia Pacific non-listed real estate funds performance has improved compared to 2012. The All Funds Index returned 9.2% in 2013 compared with 7.7% in 2012.
Looking at styles, opportunity funds outperformed core funds in 2013 at 10.9% and 9.1% respectively driven by very strong performance in Q4 2013.
In terms of geographies, single country funds in Japan and China were strong performers compared to multi country funds (7.2%): Japan funds returned 9.4% compared to a negative return in 2012 (-1.0%) and China funds returned 13.7% compared to a 1.6% return in 2012. Note that the coverage of China funds improved as we have now 10 funds included in the sub-index.
In this release, we have introduced two new sub-indices, by structure and by sector. The structure subindices shows that open end funds outperformed closed end funds in 2013, which was not the case in 2012. And single sector funds outperformed multi sector funds in 2013.”