Net asset value of vehicle (NAV)
NAV as per the vehicle's financial statements under the chosen GAAP before INREV adjustments.
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Cash and cash equivalents
Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.
Total number of outstanding shares (if applicable)
Represents total number of shares in issue (end of date).
% of real estate assets valued during the reporting period, externally
Indicates the % of the vehicle's real estate assets that are externally appraised during each valuation cycle (part of the vehicle's valuation policy) by GAV of the account ...
% of real estate assets valued during the reporting period, internally
Indicates the % of the vehicle's real estate assets that are internally appraised during each valuation cycle (part of the vehicle's valuation policy) by GAV of the account ...
Net asset value of vehicle (NAV)
Same as #3.2 . Starting point for calculations for rows below.
Effect of reclassifying shareholders' loans and hybrid capital instruments
Investors’ capital can take various forms aside from equity – examples include shareholders' loans and hybrid capital instruments such as convertible bonds. Some ve ...
Effect of dividends recorded as a liability which have not been distributed
Under certain circumstances dividends are recorded as a liability but have not yet been legally distributed. For the determination of INREV NAV, these accrued dividends should be r ...
NAV after reclassification of equity such as interests and dividends yet to be distributed
Sum of #4.1, #4.1.1 and #4.1.2.
Revaluation to fair value of investment properties
If a real estate vehicle uses the option to account for investment properties under the cost model, this adjustment represents the impact on NAV of the revaluation of the investmen ...