The sixth edition of the Global ODCE Index again saw negative performance continuing across Asia Pacific and the US. However, European ODCE funds delivered positive returns for the first time since Q2 2022.
The Q2 2024 release features the performance of 49 funds with a combined GAV of USD 350 billion.
Key highlights:
- Q2 2024 Global ODCE reported a net total return of -0.97% in Q2 2024, up by 137 bps from -2.34% posted in the previous quarter. On a 1-year rolling annual basis the total return stands at -7.36%.
- Europe outperformed the other regions with a total return of 0.19%, followed by the US with -0.66%, and -2.43% in Asia Pacific. All regions saw a quarter-on-quarter increase in performance.
- At 0.77% in Q2, the (accrual based) income return reached its highest level in three years. On a 1-year rolling annual basis the income return stands at 3.05%. Europe recorded the highest 1-year rolling income return of 3.35%, followed by the US with 3.06%, and 2.76% 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.