New index confirms market strength
The strong performance of the Australian market has been illustrated in the recently launched ANREV Australia Monthly Index which revealed a total return of 0.36 per cent in July 2017, and a one year rolling return of 11.87 per cent.
The index revealed that office focused funds were delivering the best returns with a one year rolling return of 14.06 per cent with the Investa Commercial Property Fund outperforming the index delivering a net total return of 15.25 per cent on an annualised rolling return basis.
ANREV, the Asian Association for Investors in Non-listed Real Estate Vehicles, launched the Australian domestic product in January this year as a pilot to answer the need of industry fund managers for a reliable monthly index for Australian core open end funds. The index measures post fee NAV total returns of core non-listed wholesale funds covering the office, retail, industrial/logistics and diversified sectors.
The index will be published nine business days after the end of the month.
ANREV chief executive, Alan Dalgleish said the creation of the index had been in direct response to members who required a reliable and long-term data provider for core non-listed funds in Australia
“In addition to our existing ANREV Quarterly Index, the Australian Monthly Index will provide monthly data for core open end funds in the Australian investment market, which we hope will further improve the transparency of the non-listed real estate industry,” he said.
The ANREV Australia Core Open End Fund Monthly Index currently includes 14 funds with a total GAV of $69.88 billion. The NAV of the index is currently $58.03 billion and the index grew by $7.11 billion since July 2016, with a gearing level nearly stable at 14.20 per cent (compared to 14.9 per cent in July 2016).
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