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Friction Index 2025

Co-produced by Vistra Fund Solutions and APREA

Investment opportunities and hurdles in Asia-Pacific real assets — get the insights that matter.

Uncover New Opportunities Amid Market Complexity

The APAC real assets market is full of potential, but also operational, tax, and regulatory friction. This exclusive report reveals where the biggest opportunities lie, what’s holding investors back, and how leading firms are navigating the complexity.

Inside the Friction

Inside the Friction Index 2025:

  • Which APAC markets and asset classes are attracting institutional capital

  • Where investors face the highest levels of friction and why

  • How leaders use outsourcing, AI, and tech to gain a competitive edge

  • The trends redefining real assets: ESG, AI, and regulatory shifts

100 +
Real asset market players
12
key APAC markets

10 +
Asset classes

20 +
Survey questions

100 +
Tree planted

A Defining Paradox in APAC Real Assets

Markets with the highest investment potential also carry the greatest operational and regulatory friction. Discover where the opportunities lie — and how to navigate them.

The investment potential and operational “friction” encountered in key APAC markets: 

  • China, India and Vietnam are identified as markets with immense potential but significant challenges.
  • Japan is highlighted as a "high opportunity, moderate friction" market, valued for its stability and scale.
  • Singapore and Hong Kong stand out as a "high opportunity, low friction" hubs. 
Figure 7

Key findings

Cautious optimism prevails

A clear divide exists in asset class opportunities

Value-add and opportunistic strategies dominate

Friction is a major consideration

Artificial Intelligence and ESG are reshaping operations

Industry Leaders

Backed by Industry Leaders

Compiled from Q2 survey data and real-world experience of senior APAC real asset investors. Includes exclusive insights, quotes, and case studies from market leaders.

Get Your Copy of the Friction Index 2025

Fill in the form to access actionable insights that can help you navigate complexity and seize new opportunities in APAC real assets.

Case studies

Meet the progress makers

We are proud to support the needs of diverse multi-national clients as they push for progress all over the world, creating wealth and shaping our future

Event banner - friction index webinar

Watch our webinar recording to delve deeper into these findings:

Friction Index 2025 - Delving into the Japan, Australia, and China real asset markets

Language: English

Watch our webinar featuring experts from Vistra and leading real asset investment firms PGIM and DWS, as they explored the practical implications of the Friction Index and discuss actionable strategies to navigate this evolving landscape in Japan, Australia and China markets.

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