Press Releases

21 March 2018, Amsterdam – INREV, ANREV, NCREIF and PREA are pleased to jointly release for industry consultation the first globally comparable measure of fees and costs named Total Global Expense Ratio (TGER). The new proposed global standard measures the fees and costs related to participation in a real estate investment vehicle and enables comparison across products, regardless of the vehicle domicile, structure and management activities. Barbara Flusk, Citco Fund Services, Co-chair Global Fee and Expense Metrics task force: “TGER...

16 January 2018, London – Fifty six percent of global investors plan to increase their exposure to real estate over the next 24 months, targeting an average 10.2% of total capital allocation. This would amount to a minimum commitment of just over €51 billion this year. Data from the global Investment Intentions Survey 2018, published today by INREV, ANREV and PREA, suggest continued positive sentiment toward real estate in general, and non-listed real estate in particular. The survey reinforces a continuing favourable upward trend. Regionally, investors from Europe are expected to make the most significant allocations to real estate, accounting for 57.7% of total investment capital in 2018. North American investors will likely commit 25.2%, while those from Asia Pacific are forecasting 17.1%. Europe is also the regional destination of choice likely to attract an anticipated 41.2% of allocated capital, followed by the Americas (35.2%) and Asia Pacific (17.4%). However, given that more than half of this allocation will come from Europe the region could see a net outflow, while the Americas could see a net inflow, of capital.

INREV and AREF have today launched a joint industry-wide consultation paper aimed at accelerating the debate on open end fund pricing policies. The consultation paper, entitled Open End Fund Pricing, will lead to greater consistency and clarity on pricing policies in the longer term. The accompanying study looks in detail at the main pricing methodologies generally used by market participants and also introduces an alternative pricing model, which blends the best of the existing models.

11 October 2017, Amsterdam – Usage of the INREV Guidelines rose to 96% in 2017, according to the association’s recent Member Satisfaction Survey. Originally developed in 2005, the INREV Guidelines have been adopted by growing numbers of investors and investment managers to help them improve performance and risk management. The Guidelines form part of a growing suite of initiatives designed to promote effective, consistent and detailed management reporting. In 2016, INREV introduced standards for Performance Measurement, Sustainability Reporting; and the...

INREV has announced the appointment of Lonneke Löwik as the association’s new CEO, effective from December 2017. The appointment marks a return to INREV for Löwik who, between 2009-2014, held two separate positions as Director of Research and Market Information, and then as Director of Professional Standards. Löwik will bring a fresh perspective to the role of INREV CEO, having recently gained valuable experience in two other significant global real asset organisations.

A total of 47 European non-listed real estate funds are scheduled to terminate between now and 2019, returning a potential €8.5 billion to the market, according to new research from INREV, the European Association for investors in Non-Listed Real Estate Vehicles. The Funds Termination Study 2017 also found that, for the first time in four years, extension has overtaken liquidation as the preferred strategy when it comes to termination decisions.

INREV, ANREV, NCREIF and PREA are pleased to jointly unveil the Global Definitions Database (GDD). The GDD represents one unique depository of definitions comprising of real estate market related terms. A common glossary of terms is a critical step towards convergence of reporting standards for institutional real estate investment vehicles and creates a one-stop resource that has not existed until now.

The total value of real estate assets under management (AUM) reached €2.4 trillion in 2016, up 20.1% on the €2 trillion peak achieved the previous year, based on an increase in the sample size of the global Fund Manager Survey 2017. The joint report by INREV, ANREV and NCREIF, also revealed significant growth in the average AUM of the top 50 global real estate fund managers with a 14.9% uplift from €35.6 billion in 2015 to €40.8 billion.

The Netherlands posted the strongest non-listed real estate performance on record with total returns of 14%, according to the INREV Annual Index 2017. Despite this boost, annual returns across Europe dropped to 6.0% in 2016 from a nine-year high of 9.7% in the previous year. Much of the fall was driven by weaker performance in Q2 and Q3 which stemmed from much lower valuations in the UK during the turmoil of a Brexit referendum.