A global fund index which will capture the investment performance of around 670 vehicles worth a combined €519bn (£410bn) is set to be launched.
Europe’s and Asia’s associations for non-listed real estate, INREV and ANREV, have teamed up with the National Council for Real Estate Fiduciaries (NCREIF) to create the landmark index.
The guide will allow investors to compare the performance of the non-listed real estate sector against equities and bonds on a global basis for the first time.
In June, IPD announced plans to launch a global fund index of its own, capturing core open-ended quarterly-valued funds amounting to an investable universe and creating a direct property benchmark for core investors globally.
The combined INREV, ANREV and NCREIF index includes closed-ended funds, so will monitor a wider pool of vehicles than the IPD index to reveal overall performance trends.
In comparison, the IPD’s “investable” global fund index measures only those funds that are open for investment from which tracker funds could be built for potential investors.
The three trade bodies aim to present initial index results at the ANREV Annual Conference in Hong Kong in October and the NCREIF Fall Conference in Florida in November.
