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在全球金融危机之后（2009年及之后）开始投资 的基金所获得的回报（从净内部收益率和净倍数 来看）都比之前的基金大得多。较新年份的基金 仍处于其基金生命的早期，因此这些年份的数字 可能会随着基金的成熟而发生变化。
 

• The impact of the pandemic has been pervasive with economic dislocations now reverberating across the world, hitting consumption, tourism, and supply chains. Financial market volatility has also increased with equity prices dragged lower through 2020.
• While REITs have not been spared in the current selloff, the recent price drops have upped the distribution yields of the region’s REITs, which rose to 4.4% in February, from 4.0% in January, according to the GPR/APREA Composite REIT Index.
• Historically, returns for REITs have demonstrated lower volatility over the longer term, supported by their stable dividend pay-outs. The main reason is that the overall performance, especially for office and industrial, is tied to relatively long-term leases.

• COVID-19: Comparable to GFC shock and bigger, but unlike GFC, is a socio-biological calamity-driven stress and  has  engulfed the entire world. Damage is physical and psychological.
• Global economic decline projected in upcoming quarters- loss of investor confidence, consumption slowdown, loss of jobs (World GDP growth could even fall to 0% in initial two quarters of 2020, on the lower side*).
• Post COVID-19, however, the world to witness large-scale transformation and business boost.

Heightened political tensions, along with the weak economy and the lingering impact of the COVID-19 pandemic, continued to affect business sentiment. Office tenants remained cautious and continued to seek downsizing and other cost-saving options, resulting in a 30% reduction in monthly rental costs because of downsizing and relocation since January 2020. In some sectors, such as banking and finance, office tenants put their plans on hold. Recent news about MNCs surrendered Grade-A office space highlighted the challenges office landlords face.