Consistent Outperformance of the Industrial Sector

The MSCI Global Quarterly Property Index’s return of 4.4% in March 2022 was primarily driven by the increase in returns for the industrial sector. The index returns have more than doubled over a period of five quarters, a trend that was observed in all sectors with the exception of the office sector. The industrial sector consistently outperformed the MSCI Global Quarterly Property Index across all five quarters.