The European ODCE Index returned 0.03% in Q3 2024, down from 0.20% a quarter earlier. The total gross asset value (GAV) of the European ODCE Quarterly Fund Index increased by 0.24% quarter-on-quarter. It stood at €41.9 billion at the end of Q3 2024.
Key highlights:
- The Q3 2024 return is a 17 bps decrease compared to the 0.20% reported in Q2 2024. Capital growth marginally improved by 2 bps, albeit remaining in the negative territory, at -0.61%.
- The accrual-based income return increased for the ninth consecutive quarter, recording the highest level since Q3 2020 (0.85%).
- The ODCE Index outperformed the wider INREV core Pan-European multi-country - multi-sector excluding ODCE vehicles segment, which returned -0.45% in Q3 2024.
- After the first negative net flows since the index’s inception in Q2 2024, they are positive again in Q3.
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European ODCE Quarterly Index
Last updated on 19 Nov 2024
The Index is wholly comprised of open end core commingled equity real estate funds that have a strategy to invest across pan Europe and across multiple sectors. Funds must comply with a strict eligibility criteria for four consecutive quarters in a row to be included in the index.