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Currency effects on Q1 2024 asset-level performance
The ANREV ODCE Asset Level Performance Consultation Report revealed that assets owned by Asia Pacific open-end diversified core equity (ODCE) funds posted a total return of 0.85 percent in the first quarter of 2024. The total return comprised –0.14 percent capital growth and 0.99 percent income return, according to the latest data compiled by the Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV). This is a slight improvement from the previous quarter, which registered a total return of 0.33 percent on a quarter-on-quarter basis, comprising income returns of 1.02 percent and capital growth of –0.69 percent during the fourth quarter of 2023. The three-year and five-year annualised total return stands at 5.81 percent and 6.28 percent, respectively. At the fund level, the total return for the same period in first quarter 2024 registered –3.90 percent, while the local currency equivalent return came in at 0.30 percent, showing a significant currency impact
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