Reporting Committee

When the revised INREV Guidelines are released at the Investor and Fund Manager Seminar next month, one of the biggest accolades must go to the Reporting Committee.

The mandate of this committee goes to the heart of the Guidelines as it oversees topics such as the reporting cycle, INREV Net Asset Value (NAV), property valuations and fee metrics. As such, its involvement has been integral to the revision and the group has not wavered in the face of a heavy workload. “It has been a busy period but as specialists in this field, the members of the committee find the process stimulating. It is also satisfying that the results are a long term investment into the industry as well as the work we do in our jobs every day,” says Jef Holland, Chairman of the Reporting Committee.

The pace is likely to continue for a while yet as the next steps are to look at the INREV NAV, fee metrics and the Standard Data Delivery Sheet (SDDS) at a global level. “We want there to be more consistency between the regions so we will put the framework in place to work with our counterparts in the US and Asia,” Holland explains. INREV has always focused on non-listed funds as have the Reporting Guidelines but with all the upcoming regulations, the committee is seeing more need for asset level data.

The committee will also play a role in raising awareness and the implementation of the new Guidelines through the INREV training courses. This will include an updated basic level training as well as an advanced level course on the implications of the changes to reporting and valuation stemming from the revisions. The basic guidelines will also be explained in self-tutorial videos from the Reporting Committee, which will be made available online over time.

It is satisfying that the results are a long term investment into the industry

With such a large workload the group has been expanded to 12 people in the last year with a decision taken to also ensure continuity in the contribution from the “big four”, with the group set up to always include representatives from Deloitte, Ernst & Young, KPMG and PWC.

"With the revision almost complete, our remit for this year is to broaden the geographic scope of many of our topics such as INREV NAV and fee metrics while deepening the content of others in the region such as the SDDS,” concludes Holland.