Focus Groups
Tailoring the INREV Guidelines
INREV is to set up focus groups to help tailor the INREV Guidelines in line with the range of diversified products in the market and the increasingly global nature of the industry. The establishment of product groups supports INREV’s remit to cover an expanded range of non-listed products for investing in real estate and the different styles and structures available in the market. At the same time, global groups will support consistency across the regions.
The product groups will initially be created for opportunity funds, open end funds and debt funds. They will not create stand-alone guidelines but will instead replace guidelines that are not applicable and/or add guidelines, tools and examples for specific products, vehicles structures and styles. “With the Guidelines, the principles are applicable to different types of non-listed real estate vehicles, but there might be differences in implementation. We want to ensure the industry has the support it needs to bridge any perceived gaps,” explains Matthias Thomas, INREV CEO.
The outcome of the product groups will be integrated in the online Guidelines. The online system is already set up so that users can select specific vehicle characteristics to receive tailored guidelines which are aligned to their individual fund structure and style.
“The breadth of products is one signal of a maturing industry, and these focus groups will work on ensuring good access to a diversity of approaches to suit fund managers and investors’ requirements,” said Thomas. “After these initial groups, other product groups will be established so the Guidelines meet the needs for all different non-listed vehicles.”
The breadth of products is one signal of a maturing industry
The global groups will be responsible for the global dialogue with other regional industry bodies such as ANREV and REIS and continue the work that had already started with the revision of the INREV Guidelines over the past two years. Initially, the focus will be on global alignment of the Standard Data Delivery Sheet (SDDS), INREV Net Asset Value and Fee Metrics. These groups are the next step in an ongoing process to ensure that the INREV standards are understood and adopted globally and are compatible with existing industry standards.
The Reporting Committee, with the support of other relevant committees such as the Secondary Markets & Liquidity and Corporate Governance committees will operate as an umbrella group to supervise and support the different groups and to guarantee the link with the Guidelines.
Any INREV members that are interested in joining one of the Focus Groups – either a Product Group or one of the Global Groups – should contact us via anne.boeker@inrev.org.
