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Since the financial crisis industry demand for information and reporting has only increased. Having more practical, relevant industry guidelines can only help to improve transparency and encourage standardised reporting in our sector.

This report aims to provide insight into current market practices in investor reporting across non-listed real estate vehicles investing in Europe, and specifically the extent to which reporting complies with the requirements and recommendations of the INREV Guidelines.

In later years, this report has been titled 'Review or Reporting Best Practice'.

After 18 months of consultation, including input and feedback from over 300 industry participants, the revised INREV Guidelines are online and ready for implementation.

The Debt and Derivatives Disclosure Notes include examples of tables that can be used to present information on financing and hedging arrangements to investors. Large parts of the information to be disclosed covers existing fund GAAP requirements, but there may be other items required. The Notes suggest to disclose the information both in the year end accounts and in quarterly management information for investors.

The topics covered by the Notes are:

Loans and borrowings

• Analysis by category (debt from credit institutes, shareholder loans etc.)
• Analysis of maturity for each loan
• Analysis of interest and fair value for each loan
• Overview of quantitative covenants applicable for loans and borrowings

Foreign Currency

• Analysis of foreign currency exposure

Derivative financial instruments

• Analysis of derivative financial instruments   Interest rate sensitivity analysis
• Analysis of foreign exchange derivative financial instruments
• Foreign exchange sensitivity analysis

The full document can be downloaded in a Word and Excel format.

Example from INREV Guidelines.

This report aims to provide insight into current market practices in investor reporting across non-listed real estate vehicles investing in Europe, and specifically the extent to which reporting complies with the requirements and recommendations of the INREV Guidelines.

In later years, this report has been titled 'Review or Reporting Best Practice'.

INREV's Fund Style Classification was created to provide the industry with a robust classification and a consistent basis to understand and compare risk in funds. It was first released in 2010 and updated in 2012.

The revised INREV Style Classification Report provides the non-listed real estate industry with a robust, enduring and workable style classification (Core, Value Added, Opportunity) for funds.

Also view Global Pension Funds Landscape 2015