Research - MAY 4, 2015

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Open-end fund total return continues upward trend

by Zoe Wolff

Open-end funds had a total return before fees of 3.39 percent in first quarter 2015, up from 3.26 percent in the fourth quarter 2014 and significantly higher than the first quarter 2014, which was 2.52 percent, according to the NCREIF Fund Index – Open-end Diversified Core Equity.

The National Council of Real Estate Investment Fiduciaries released first quarter 2015 results on April 30 for the NFI-ODCE, which looks at 23 funds with $173.1 billion of gross real estate assets and $133.3 billion of net real estate assets.

Income returns have decreased during the past year as cap rate compression continues amid low interest rates and strong investor demand for commercial real estate, according to a statement from NCREIF. Appreciation over the same period has pushed up the total returns.


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