NCREIF Townsend Fund Returns
This report presents the performance information of private equity real estate funds pursuing core, value added, and opportunistic investment strategies using both open-ended and closed-ended structures.
The performance data is comprised of both active investments, as well as funds that have completed their full lifecycle or discontinued operations. Return information is represented both in the time-weighted format which is most appropriate for open-end vehicles and vintage-year descriptive statistics which are most appropriate for closed-ended vehicles that exhibit performance patterns dependent on their lifecycle.
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The table below represents historical Total Returns for the NCREIF Townsend Fund Index. You can filter the results by Core, Value-Added and Opportunistic funds.
| Year | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 |
|---|
| 1978 | 2.87% | 3.72% | 3.33% | 6.33% |
| 1979 | 3.86% | 5.64% | 3.97% | 4.78% |
| 1980 | 5.12% | 3.74% | 3.67% | 4.19% |
| 1981 | 3.81% | 4.26% | 3.77% | 4.05% |
| 1982 | 2.65% | 2.53% | 2.04% | 1.98% |
| 1983 | 2.16% | 3.52% | 3.26% | 4.68% |
| 1984 | 3.67% | 3.04% | 3.04% | 3.48% |
| 1985 | 2.43% | 2.49% | 2.39% | 2.69% |
| 1986 | 2.31% | 1.78% | 1.81% | 2.11% |
| 1987 | 1.73% | 1.41% | 2.1% | 1.79% |
| 1988 | 1.76% | 2.14% | 2.22% | 2.34% |
| 1989 | 1.88% | 1.73% | 1.91% | 1.75% |
| 1990 | 1.46% | 1.36% | .49% | -2.02% |
| 1991 | -.05% | -.8% | -1.65% | -5.05% |
| 1992 | -.7% | -.84% | -1.1% | -2.34% |
| 1993 | .51% | .52% | .92% | .45% |
| 1994 | 1.44% | 1.51% | 1.15% | 1.75% |
| 1995 | 1.75% | 2% | 1.72% | .51% |
| 1996 | 2.18% | 2.36% | 2.36% | 2.77% |
| 1997 | 2.49% | 3.19% | 3.08% | 5.96% |
| 1998 | 3.06% | 4.48% | 3.71% | 3.78% |
| 1999 | 2.68% | 2.87% | 2.86% | 3.41% |
| 2000 | 2.6% | 3.27% | 3.64% | 3.43% |
| 2001 | 2.29% | 1.87% | 1.06% | .3% |
| 2002 | .77% | 1.39% | 1.78% | 1.81% |
| 2003 | 1.89% | 2.41% | 2.39% | 2.43% |
| 2004 | 2.72% | 3.1% | 3.32% | 3.91% |
| 2005 | 4.36% | 5.18% | 5.02% | 5.13% |
| 2006 | 3.88% | 3.92% | 3.63% | 4.11% |
| 2007 | 3.96% | 5.08% | 4% | 2.04% |
| 2008 | 1.34% | .26% | -.75% | -10.75% |
| 2009 | -13.44% | -9.2% | -7.3% | -3.7% |
| 2010 | 1% | 4.5% | 5.7% | 4.99% |
| 2011 | 4.1% | 4.6% | 3.5% | |
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