In this year’s INREV Management Fees and Terms Study, the average Total Global Expense Ratio (TGER) for 2023 was 0.94% on GAV and 1.72% on NAV, based on a sample of 91 funds. Additionally, an equally weighted average REER of 1.04% on GAV was recorded from a sample of 88 funds.
Key highlights include:
- Management fees were more consistent compared to the vehicle costs. Large core funds had lower vehicle costs
- ODCE funds exhibit lower TGERs for Multi sector – Multi country strategies
- Netherlands-focused funds demonstrate a small spread of TGERs
- There were hardly any performance fees for non-core funds in 2023
- Core funds and large funds reported lower Real Estate Expense Ratios (REERs), however they were relatively consistent across sector strategies
Download the snapshot, report and Excel below for a more detailed analysis.
Management Fees and Terms Study
Last updated on 24 Sep 2024