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From ‘why’ to ‘why not’: sustainable investing as the new normal  

Published on 15 Aug 2018

Sustainable investing and environmental, social and governance (ESG) factors are increasingly becoming a priority for worldwide investors and a trend in what refers to investment strategies and best practices. Several studies developed over the last years, correlate the sustainable investing to superior returns and the investors are increasingly integrating ESG factors in the investment strategy, which positions Sonae Sierra as a reliable partner, and our owned and managed assets as best in class investments.

To help investors capitalize on opportunities in sustainable investing, this article developed by Mckinsey offers insights on how to integrate ESG factors with the investment process—from defining the objectives and approach for an investment strategy, through developing the tools and organizational resources required to manage investments, to managing performance and reporting outcomes to stakeholders. It is based on more than 100 interviews conducted with CEOs, chief investment officers, ESG leaders, investment managers, and others at a range of investment funds, about their experiences with sustainable investing: how they got started, what practices they follow, what challenges they encountered, how they resolved them, and how they have enhanced their sustainable investing approaches over time.

Real Estate Innovations Overview  

Published on 01 Aug 2018

In a constantly evolvingworld, even a traditional sector such as real estate changes and innovates. In the view of KPMG, the future of real estate is directly linked with innovation. The startupsof today are the potential industry leaders of tomorrow. Incumbent firms that not only want to survive, but also thrive, should constantly follow developments and trends of these innovations and startupsas there are numerous lessons to be learned. KPMG gives a comprehensive overview examples and insights into the innovations and startups that might shape the future real estate landscape. Startus have been categorized by several innovation topics based on current market trends, including:

  • digitizing processes
  • flexible workspace
  • healthy workplace
  • innovative constructions
  • internet of things
  • new ways of funding
  • platforms to connect
  • sustainable innovations
  • virtual Reality & 3D mapping

The purpose of the document is to provide insight into the current innovative developments in the real estate market. The information provided for each startup includes key information such as name, country of origin, founding year, key words and website details. Not all startupsare ‘live’ or in full production yet, leaving room for innovations that might disrupt the sector at a later stage. Next to the general classification of startups into nine innovation topics key words are included to describe each startup using specific and recognizable characteristics. Besides key information the publication provides a short summary of the company and the respective product.

The Investing Enlightenment – How principle and pragmatism can create value through ESG  

Published on 30 Jul 2018

There are significant challenges in our world today, ranging from deep income-inequality to climate change. There are also advances in understanding and analysis that allow us to take a pragmatic approach to a critical but seemingly elusive question: how can we leverage capital markets to improve not just risk-adjusted returns, but our society as a whole? In other words, how can we create sustainable value?

To answer to this question, State Street conducted a global survey of almost 600 institutional investors who are, or are planning to implement Environmental, Social and Governance into their investment process. In this study, they also surveyed 750 individual investors, including both ESG and non ESG investors, and interviewed 25 executives. The goal is to provide a pragmatic approach to ESG integration that delivers on the principle of sustainable value creation through risk-adjusted returns.

INREV Due Diligence Questionnaires (DDQ)  

Published on 24 Jul 2018

The INREV Due Diligence Questionnaire (DDQ) assists investors and consultants in the due diligence process to understand a fund manager’s structure, strategy and non-listed real estate business. It also gives insight in a specific vehicle’s strategy, risk processes, management, terms and projected performance. With it, investors can determine, in principle, whether a proposal fits their investment objectives.

DDQ was updated in July 2018. New version reflects the feedback received from INREV members during a two-month consultation period.

Beyond Risk Management – How sustainability is driving innovation in real estate finance  

Published on 18 Jul 2018

With commercial real estate finance sector witnessing a dramatic shift in attitudes towards sustainability agenda, leading lenders are now exploring new opportunities that go well beyond risk management through sustainability initiatives that drive new business, strengthen customer relationships and improve the data they hold on the buildings in which they have an interest.

The report outlines the drivers and opportunities to lenders by showcasing best-practice examples, including:

  • Improved borrower engagement, where ING Bank and ABN AMRO have used innovative technology as an engagement tool to help their borrowers identify energy improvement measures that will provide both a financial return and improved environmental performance;
  • New lending products, where Lloyds Bank has launched its Green Lending Initiative;

Deep integration of sustainability practices, where Better Building Partnership (BBP) members Hermes Investment Management and TH Real Estate have taken learnings from their longstanding direct real estate investment funds and are applying this to the newer debt side of their business.

The report also issues a call to action urging real estate lenders to recognise the significant opportunities available, explore the commercial and reputational prizes to be won and collaborate to develop standards that will help products and services to become mainstream.

Funds of Funds Study 2018  

Published on 17 Jul 2018

The Funds of Funds Study 2018 provides an overview of the fund of funds industry globally, including insights by target region, by style and structure and other associated characteristics, as well as detailed analysis of the performance of funds of funds. The study is international in scope, and is conducted in conjunction with ANREV in Asia Pacific.

Open End Fund Pricing  

Published on 17 Jul 2018

There’s broad agreement within the industry that we need to establish a more structured and common approach to pricing policies. To accelerate the debate INREV and AREF are pleased to present a consultation on Open End Fund Pricing. 

In November 2017 INREV and AREF presented a consultation paper on Open End Fund Pricing, feedback was reviewed by the focus group and a conclusion of Phase 1 was released in July 2018.

Historical data deep dive webinar  

Published on 10 Jul 2018

The history of the INREV Quarterly Index was recently extended back to Q2 2000 providing the non-listed real estate industry with almost 18 years of fund performance data. The enriched data allows for greater insights into the real estate funds industry and deeper analytics into this sector.

Data has become a key input for driving growth, enabling businesses to differentiate themselves and maintain a competitive edge. Given the growing importance of data the extended history of the INREV Quarterly Index is a timely and welcome expansion.

During the webinar, Edgar Orlovskis, INREV’s Research & Analytics Associate, presents the results of the historical data collection project and demonstrate how these can be used for a deeper understanding of the non-listed real estate universe.

Edgar is joined by Stafford Biddulph, Associate Partner at Rockspring and Rob Courtens, Investment Strategist at BlueSky Group, who discusses the benefits and applications of the extended history and how it can be used for better decision making, supporting their roles and day-to-day tasks.

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