The fifth edition of the Global ODCE Index again saw negative performance continuing across Asia Pacific, Europe and the USA.
The Q1 2024 release features the performance of 49 funds with a combined GAV of US$ 356 billion.
Key highlights:
- Q1 2024 Global ODCE reported a net total return of -2.35%, marking the seventh consecutive quarter of negative performance. On a 1-year rolling annual basis the total return stands at -9.01%.
- Europe outperformed the other regions with a total return of -0.56%, followed by the US with -2.58%, and -3.90% in Asia Pacific. Other than Asia Pacific, all regions saw a quarter-on-quarter increase in performance.
- At 0.76% in Q1, the (accrual-based) income return reached its highest level in three years. On a 1-year rolling annual basis the income return stands at 3.00%. Europe recorded the highest 1-year rolling income return of 3.23%, followed by the US with 2.92%, and 2.86% in Asia Pacific.
- Global ODCE real estate portfolios are dominated by allocations to the mainstream industrial / logistics and office sectors. In all three regions, these two sectors have a combined weight of over 50%.
View detailed analysis via the Index Analysis Tool or download the report, Excel and snapshots below.