The Q1 2023 INREV Quarterly Fund Index saw performance improve to -0.97% from -6.04% in Q4 last year.
The Q1 2023 release includes 310 funds with a combined GAV of €307.7 billion.
Key highlights:
- Capital growth remained negative but improved by nearly six percentage points in the first three months of 2023 to -1.47% from -7.23% in Q4 2022.
- The total return of open end funds increased to -1.24% in Q1 from -5.93% a quarter earlier. Closed end funds reported total returns of 0.62% after registering -6.63% in Q4.
- Value add funds produced total returns of 5.74% in Q1 2023 having returned -4.45% three months earlier, outperforming core funds for the fourth consecutive quarter. Core funds returned -1.39%, which was a big improvement on -6.14% reported in Q4.
- Office, Industrial and residential funds once again experienced negative total returns in Q1. Funds specialising in retail assets and multi sector funds reported results that were marginally positive.
- Residential focused funds were the weakest by sector.
View detailed analysis via the Index Analysis Tool or download the report, Excel and snapshots below.
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INREV Quarterly Index
Last updated on 19 Nov 2024
The INREV Index is a performance index for European non-listed real estate funds investing 90% or more in Europe. The information for the quarterly goes back to Q2 2000. The Quarterly Index is published 8 weeks after the end of the quarter, and reports are available in PDF format. The reports cover the performance of non-listed funds in Euro, USD, GBP, JPY, AUD and in Local Currency and are available for members only, please login to download.