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Advanced NAV

, Luxembourg

This advanced one-day course will address reporting aspects of the INREV Guidelines which are used to calculate INREV Net Asset Value (NAV) and will provide you with a better understanding of market best practice and examples related to adjustments, calculations and practical challenges.

This course presumes a good understanding of INREV NAV and the ability to calculate it, as it will go into more detailed analysis for adjustments. 
It will provide delegates with an extensive analysis of the topic as well as the practical applications for specific vehicle types. In the programme, there will be a special focus on adjustments related to the fair value of assets and liabilities as well as those related to the effects of the settlement.

In addition, participants will also have the chance to send their NAV examples and relative queries to tutors prior to the course so that they can be examined during the training.

The course will include the following topics:

  • Analysis of the INREV NAV Guidelines module
  • Detailed adjustments and advanced calculation examples
  • Common challenges when producing the calculations
  • Reporting requirements for reports and the SDDS

The course will be given by leading industry experts with an emphasis on group discussions and case studies to allow participants to share their views.

Who should attend the course?

The course will be of interest for investors, Investment managers, fund of fund managers as well as advisors who play a central role in calculating and review INREV NAV. For example, CFOs, financial officers and fund controllers.

Upon completion of the seminar participants will be able to:

  • Approach and understand details of INREV NAV calculations including in-depth adjustments
  • Recognise and understand best practice in the market for INREV NAV


For the INREV Advanced NAV course, INREV introduces a 45-minute eLearning module as prerequisite for participation in the training. This additional service will provide a stepping stone to the classroom training, making sure that everyone is at the same level before they undertake the more advanced courses. At the end of the eLearning module, your basic NAV knowledge will be tested in a quiz.

Please note that you are required to sign up for the eLearning module beforehand via this link. There are no additional costs associated with participation in this initial module.

This course is open to members and non-members and it counts towards the INREV/ Henley Certificate for non-listed real estate investments.



Luxembourg, Luxembourg

  • PwC
  • 2 rue Gerard Mercator
  • L-1014


Fees & Terms


One day course for INREV members (€ 600)

Terms and conditions

Non Member fee: 850 Euro


1.1. INREV Training Courses are open to Representatives and other interested individuals, not being Representatives (Non-Representatives).

1.2. For Representatives, the Membership Terms and Conditions fully apply to INREV Training Courses. In the event of any conflict or inconsistency between any provisions of these Training Courses Terms and Conditions and the Membership Terms and Conditions, first the Training Course Terms and Conditions and then the Membership Terms and Conditions shall prevail.

1.3. Representatives and Non-Representatives will hereinafter together be referred to as “Applicants”.

1.4. The costs of attending an INREV Training Course (Attendance Fee) will be communicated to Applicants at the time of registration at the latest.

1.5. Admission to any INREV Training Course is subject to registration and subsequent written confirmation of that registration by INREV. If you are a Representative and the Member you represent has not yet paid their annual INREV membership fee, INREV will not confirm registration of any of their Representatives until payment is made If an Applicant personally has any outstanding invoices with INREV, INREV will not confirm registration for INREV Training Courses until full payment of all outstanding invoices is made.

1.6. All personal data provided to INREV by Applicants, during the application process or afterwards, including their biographies, will be processed in accordance with the Privacy Statement of INREV, which can be found on the INREV website. Biographies of Applicants, and the personal data they may contain, will only be shared with other Applicants as part of the course documentation of an INREV Training Course, with prior consent of the Applicant,

1.7. By registering for an INREV Training, attendees accept and acknowledge that images may be taken of them during the INREV Training and give INREV express permission to use these images for reproduction. Only in the event that such an image depicts a close up of a particular attendee or a small group of attendees, INREV shall seek additional permission for the use of such an image.

Cancellation and no-show policy

2.1. When registering for an INREV Training Course, INREV will inform Representatives of the applicable attendance fee. Attendance Fees may differ for Representatives and Non-Representatives.

2.2. There is no charge for cancellation until attendance of the INREV Training Course is confirmed by INREV. Any Attendance Fees paid to INREV before confirmation will be fully restituted.

2.3. Full attendance fee is due as soon as INREV confirms an Applicants registration, , Any Attendance Fees already paid to INREV will not be refunded.

2.4. As a Representative, if you register and your registration is confirmed by INREV, but you do not attend an INREV Training Course (no-show), the full Attendance Fee is due, unless you are replaced with another Representative. As a Non-Representative, if you register and your registration is confirmed by INREV, but do not attend an INREV Training Course (no-show), you will be charged with the full Attendance Fee to cover the costs that INREV will incur. Any Attendance Fees already paid to INREV will not be refunded. As a Non-Representative, and only if full payment is made in time, you are also allowed to have someone else participate in your place.


3.1 If any provision (or part of a provision) of these Training Courses Terms and Conditions is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other provisions shall remain in force.

3.2 If any invalid, unenforceable or illegal provision would be valid, enforceable or legal if some part of it were deleted, the provision shall apply with whatever modification is necessary to give effect to the commercial intention of the parties.

3.3 These Training Courses Terms and Conditions are governed by the laws of the Netherlands.

3.4 The competent court in Amsterdam, the Netherlands, shall have jurisdiction to settle any dispute in connection with Training Course provide by INREV and/or these Training Courses Terms and Conditions, without prejudice to the right of appeal and that of appeal to the Supreme Court.

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