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New index puts United States on top of the world
A new global real estate index has been launched. The Global Real Estate Fund Index, or GREFI, represents an integration of data from three member-driven, nonprofit organizations: NCREIF, INREV (the European Association for Investors in Non-Listed Real Estate Vehicles) and ANREV (the Asian Association for Investors in Non-Listed Real Estate Vehicles). The GREFI initiative aims to meet the data collection and information needs of the expanding global activities of the organizations’ combined membership and serves as a basis for future collaboration.
The GREFI third quarter 2015 release includes the performance of 454 funds with a total net asset value of $396.5 billion, compared with 389 funds with $357.8 billion NAV as of second quarter 2015. Coverage expanded this quarter because of the initial inclusion of funds tracked for NCREIF’s Closed-end Value Added Fund Index (CEVA) and global funds that target multiple regions.
Europe represents the largest count of funds