Chapter 3

INREV Strategic Value Drivers
2021

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INREV strives to achieve its goals with the support of the committees and focus groups. Projects for the year are driven by a set of priorities and value drivers. An overview of our key achievements under the value drivers are set out below.

Strategic value drivers

Key achievements

Provide the highest quality European and global insights and indices

  • Eleven quarterly indices published
  • European ODCE index reaches €41.5 billion in GAV
  • Asset Level Index grew to 6499 assets valued at €205 billion
  • Debt Vehicles Universe Study published
  • Market Insights report and sentiment survey published over four quarters
  • Two fundamental-for-the-industry research papers published: ‘Characteristics of non-listed real estate in the investment portfolio’ and a second paper on the productisation of Real Estate, ‘Real Estate as a Commodity, Product and Service’
  • Joined a study on ESG trends in real estate with IEIF and Green Soluce
  • Study conducted on the impact of potential tax changes and paper published, ‘Charting the course of tax changes in Europe’
  • First Global DEI survey published with Ferguson Partners and 6 other leading industry associations
  • Global Fund Management Survey published with Ferguson Partners and NAREIM
  • Return of monthly Research and Market Information briefings on the first Thursday of every month
  • 189 pieces of press coverage spanning Research, ESG and Technology.

Increase awareness and adoption of INREV Standards globally

  • First INREV Standards Month held in October
  • Guidelines Review project initiated
  • Phase one of two completed of Guidelines Review – Performance Measurement and Corporate Governance Modules
  • Fund of Funds DDQ and Social Aspects appendix launched
  • Q&A published on treatment of assumptions for INREV NAV and TGER calculations
  • Global AUM paper and basis for calculation tool published in IQ magazine, trade press and NCREIF/PREA podcast
  • DDQ and GDD promoted to North American members at ‘Europe in Focus’ briefing
  • 31 new definitions added to Global Definitions Database
  • Response submitted to RICS review of Real Estate Investment Valuations

Represent the industry in European policy making

  • Engaged with OECD in developing BEPS Pillar II recommendations
  • Fifteen responses submitted to various industry consultations including EU Merger Control, AIFMD, UK Funds Review and ELTIF consultation
  • SFDR briefing paper published in collaboration with Standards
  • Round Tables held focused on Brexit related challenges for compliance officer and for legal and tax counsel
  • Country-by Country Tax and Regulatory Guide updated
  • Four IQ articles updating the industry on insights from Brussels
  • Hosted six virtual European Real Estate Forum (EREF) meetings

Inspire, educate and inform

  • 55 events organised
  • Autumn Conference in Copenhagen
  • ‘Europe in Focus’ briefings launched for North American members to update on European market
  • ESG main theme across 2021 event programmes
  • ESG Trends event co-organised with IEIF, Green Soluce and EPRA
  • 17 Training courses delivered
  • First course on Impact investing launched
  • ESG and Foundation course offered twice to meet increasing demand
  • 16 Graduates of the INREV/Henley Certificate
  • University outreach programme delivered at 9 institutions
  • 39 IQ articles published over 4 editions
  • Young Professionals summer newsletter launched

Ensure an innovative, accessible and secure online platform

  • All data collected via the new INREV/ ANREV Data Platform
  • All Vehicle and Asset Level data migrated to Data Warehouse
  • At survey level, Capital Raising and Fund Manager Data migrated to Data Warehouse
  • Progression of ISO27001 international standard implementation and certification
  • Website review initiated

Grow and strengthen the non-listed real estate community

  • INREV membership net growth of 12 to a total of 478 by year end
  • 24% investor representation (1% increase on 2020)
  • 4480 registrations for INREV events
  • 606 attendees joined an INREV Course
  • New functionality to Member Directory as well as ability for members to add a corporate description
  • 20% growth of online INREV community