Industry bodies INREV, ANREV and NCREIF have launched the first Global IRR Index, providing data on the since-inception performance of value-added and opportunity, closed-end, non-listed real estate funds in Asia Pacific, Europe and the US.
This consultation index is an extension of the ongoing collaboration between INREV, ANREV and NCREIF to provide a suite of global indices, which already includes the Global Real Estate Fund Index (GREFI). These joint initiatives further transparency to the global non-listed real estate investment industry and harmonize performance metrics across regions.
The Global IRR Index measures the internal rate of return, since inception, of closed-end, non-listed real estate funds with a non-core strategy. It measures performance net of fees and other costs, and represents the aggregate investor return.
This first consultation edition of the index is made up of 294 funds (258 value-added and 36 opportunity) with vintages dating from pre-2002 to 2018. Of the total, 62 funds are from Asia Pacific, 102 are European and 130 are from North America. The report is now available to members only on the NCREIF website.
To view the report, sign in to the Member Login on the website and click on Products, then scroll down to the Fund section and you will see the Global IRR Report there.
To learn more about this new report, please view the replay of the Global IRR Report Initiative Webinar held today featuring representatives from the three organizations.