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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.

EMIR, the European Market Infrastructure Regulation, will subject many derivatives, including ordinary interest rate and currency swaps typically used by non-listed real estate fund managers, to significant new requirements.

These requirements include clearing through a central counterparty, posting of cash collateral, and reporting and disclosure obligations.

This webinar, led by Jeff Rupp, Director of Public Affairs, brings some clarity and guidance on the impact of EMIR on these new requirements and covers the following topics:

• Overview of EMIR
• Scope of applicability
• Clearing, collateral, reporting and disclosure requirements
• Strategic considerations

The INREV Public Affairs Committee's response to the consultation to encourage informed consideration of non-listed property funds as a long-term investment.This report explores the impact of regulatory change on long-term investing strategies and on the real economy.

Long-term investment enhances the productive capacity of the economy and often has wider public benefits, since it generates greater returns for society as a whole by supporting essential services and improving living standards. Public debate is currently focused on how to encourage long-term investment in Europe.

The global Investment Intentions Survey from industry associations INREV, ANREV and PREA shows encouraging signs for real estate investments in 2014.

This study examines management fees and costs. There are two parts to the study: the European part and the global comparison.

Europe

INREV's Management Fees and Terms study provides an overview of the fees, costs and total expense ratios (TERs) of European non-listed real estate funds. This part has been conducted on a regular basis (but not annually) since 2007.

Global Comparison

The Management Fees and Terms Global Comparison Study compares the fees and costs and, where applicable, total expense ratios (TERs) of non-listed real estate funds in Europe, Asia Pacific and the US. This part has been conducted on a regular basis (but not annually) since 2007. The global comparison has been conducted since 2010.

The European non-listed property funds industry is laying the groundwork for an improved focus on sustainability. This report takes GRESB's data on non-listed real estate funds and analyses their sustainability performance, with a particular focus on European funds, to provide more tailored information and guidance to our members on this topic.

As part of its commitment to supporting its members to improve their sustainability efforts, INREV is a partner in the Global Real Estate Sustainability Benchmark (GRESB), a global consortium of institutional investors and real estate industry associations committed to assessing the sustainability performance of real estate portfolios. One of GRESB’s main initiatives is its annual survey, which provides focus and direction for the real estate sector by benchmarking sustainability performance. The results provide an overview of sustainability activities and trends in global real estate for both the public and private sector.

INREV's Annual Report and Financial Statements are available since 2009 and provide the Chairman's Report, Mission, History, Association Stucture, and describes INREV's platforms, committees, membership status, activities, and financial report.

The European non-listed property funds industry is laying the groundwork for an improved focus on sustainability. This report takes GRESB's data on non-listed real estate funds and analyses their sustainability performance, with a particular focus on European funds, to provide more tailored information and guidance to our members on this topic.

As part of its commitment to supporting its members to improve their sustainability efforts, INREV is a partner in the Global Real Estate Sustainability Benchmark (GRESB), a global consortium of institutional investors and real estate industry associations committed to assessing the sustainability performance of real estate portfolios. One of GRESB’s main initiatives is its annual survey, which provides focus and direction for the real estate sector by benchmarking sustainability performance. The results provide an overview of sustainability activities and trends in global real estate for both the public and private sector.