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Global Definitions Database

Access, learn and discover all terms related to the non-listed real estate sector.

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Global Investment Performance Standards (GIPS®)

The Global Investment Performance Standards are a set of standardized, industry-wide ethical principles that provide investment managers with guidance on how to calculate and report their investment results to prospective clients based on the principles of fair representation and full disclosure. The GIPS® standards are sponsored by the CFA Institute. The GIPS® standards (www.gipsstandards.org) are the Foundational Standards for performance within the Reporting Standards and INREV Performance Guidelines.

Source: Global | Date: 20 March 2020 | ID: D0412 | Version: 6

Related definitions

Accounting Standards Update (ASU)

A document issued by the Financial Accounting Standards Board (FASB) in the United States, which details accounting standards and guidance on selected accounting policies set out by FASB. See www.fasb.org

ANREV

ANREV is the Asian Association for Investors in the Non-Listed Real Estate Vehicles. The platform for sharing knowledge on the non-listed real estate industry and to improve transparency, professionalism and best practices across the sector to make the asset class more accessible and attractive to investors. See www.anrev.org/en.

CFA Institute

The CFA Institute is a global not-for-profit association of investment professionals. The Institute awards the CFA (Chartered Financial Analyst designation). See www.cfainstitute.org. The Institute established and interprets the Global Investment Performance Standards (GIPS®). See www.gipsstandards.org.

Emerging Issues Task Force (EITF)

The Emerging Issues Task Force (EITF) was formed in 1984 in response to the recommendations of the FASB's task force on timely financial reporting guidance and a FASB Invitation to Comment on those recommendations. The mission of the EITF is to assist the FASB in improving financial reporting through the timely identification, discussion, and resolution of financial accounting issues within the framework of existing authoritative literature. See www.fasb.org/.

INREV

INREV is the European Association for Investors in Non-Listed Real Estate Vehicles. The platform for sharing knowledge on the non-listed real estate industry to improve transparency, professionalism and best practices across the sector, making the asset class more accessible and attractive to investors. See www.inrev.org/.

International Financial Reporting Standards (IFRS)

A set of accounting standards, developed and maintained by the IASB with the intention of those standards being applied on a globally consistent basis thus providing investors and other users of financial statements to compare across their peers. See www.ifrs.org/.

International Valuation Standards Council (IVSC)

An independent, not-for-profit organisation that produces and implements universally accepted standards for the valuation of assets across the world in the public interest. See www.ivsc.org/.

National Council of Real Estate Investment Fiduciaries (NCREIF)

NCREIF is a US based not-for-profit association of institutional real estate professionals which includes investment managers, plan sponsors, academicians, consultants, appraisers, certified public accountants (CPAs) and other service providers who share a common interest in the industry of institutional real estate investment. NCREIF is a co-sponsor of the Reporting Standards. See www.ncreif.org.

Pension Real Estate Association (PREA)

PREA is a non-profit organization whose members are engaged in the investment of tax-exempt pension and endowment funds into real estate assets. PREA's mission is to serve its members engaged in institutional real estate investments through the sponsorship of objective forums for education, research initiatives, membership interaction, and the exchange of information. PREA is co-sponsor of the Reporting Standards. See www.prea.org.

Reporting standards - handbook volume I and II

Reporting standards to promote transparent, consistent and meaningful performance, risk, accounting and valuation reporting for use of the institutional real estate investment community. The Reporting Standards are mainly used in the US and are co-sponsored by NCREIF and PREA. See www.reportingstandards.info.

Uniform Standards of Professional Appraisal Practice (USPAP)

Valuation standards established through Uniform Standards of Professional Appraisal Practice in the United States. USPAP is developed, interpreted, and amended by the Appraisal Standards Board of the Appraisal Foundation. USPAP are quality control standards applicable to real property, personal property, intangibles, and business valuation appraisal and opinions which interpret the standards. USPAP is the foundational standard for valuation within the Reporting Standards. See www.uspap.org.