The property industry is soon to have its first global index for non-listed funds.
The Asian and European Associations for Investors in Non-listed Real Estate (ANREV and INREV) have joined forces with the National Council for Real Estate Fiduciaries (NCREIF) to create the index, which will allow investors to compare the non-listed real estate sector with other asset classes.
NCREIF and INREV already have regional fund indices, while ANREV launched an Asian fund index in November last year. The combined indices track 670 funds with an estimated gross asset value of €519bn (£409bn).
Patrick Kanters, INREV chairman and managing director Global Real Estate at APG Asset Management said: “This is a great initiative. A global index will have far-reaching benefits for the whole industry – particularly in terms of establishing universal performance benchmarks and standardisation, which is a major focus for INREV. It will also help with specific issues such as improving asset liability modelling.”
Sophia.furber@estatesgazette.com
