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This survey looks at total real estate assets under management (AUM) of fund managers active in the non-listed real estate fund industry globally.
The full survey lists the Top 50 Fund Managers by total real estate AUM, non-listed real estate vehicles under management broken down by region and by non-listed real estate funds under management broken down by region.

This survey has been conducted annually since 2012.  Since 2015, the survey has been global in scope, thanks to the involvement of ANREV and NCREIF.

On 9 December 2015 the European Court of Justice issued a ruling on the VAT exemption for fund management services deciding that the management of real estate funds may also qualify exempt. However in order to qualify for the exemption an investment fund must be regulated (i.e. subject to governmental supervision). Consequently, the management of a regulated real estate fund is exempt from VAT. However, property management of real estate held by such fund cannot benefit from the VAT exemption for fund management according to the ECJ.

During this webinar Maarten de Bruin and Wim Panis Partners at Stibbe provide participants with an overview of the ruling  and the implications it will have on the real estate investment management industry in the major European jurisdictions:

The webinar will cover the following topics:

• Scope of the ruling
• Definition of regulated vs unregulated funds and how this affects the VAT exemptions
• Impact on fund structuring and fees
• Case studies
• Future outlook

The webinar is aimed at fund managers, investors as well as advisors who wish to get a practical update on the current changing tax regime and how this affect fund structuring efficiency.

A guide to developing the business case for saving energy in real estate portfolios.

This toolkit is a practical guide for organisations to plan and initiate energy efficiency programmes. It provides a variety of corporate approaches towards achieving efficient building portfolios, which assist in developing an approach that best fits your organisation.

The tool guides you through a five step process, first the creation of a vision, the planning of the implementation process, and the organisational implementation. This is followed by evaluation and measuring of the outcome and the final step is the conclusion of results and related feedback.

There are three main components to the Vision Stage of this toolkit that help establish a clear vision which is vital for a successful energy efficiency program. The tool helps with (1) formulating a clear statement of intent, (2) demonstrating an organisation's commitment and (3) forming a framework for subsequent program development and implementation.

In addition the tool helps set up the monitoring systems that are essential to support any energy reduction measures. Whilst this toolkit has been designed for standalone use, it can also be used to assist companies working towards the ISO 50001 Energy Management System Certification.  

Stakeholders who may be interested in using the tool are finance, sustainability, corporate, social responsibility, communication teams.

Prepared by the World Business Council for Sustainable Development

A report connecting global risks to local economies.

60 million people, equivalent to the world’s 24th largest country, are forcibly displaced, and crimes in cyberspace costs the global economy an estimated US$445 billion, higher than many economies’ national incomes.

The Global Risks Report 2016 highlights the most significant long-term risks worldwide. The year 2016 marks a forceful departure from past findings, as the risks which the Report has been warning about over the past decade are starting to manifest themselves in new, sometimes unexpected ways and harm people, institutions and economies.

The responses from Europe show that the most dominant risks include fiscal crises, cyber-attacks, unemployment, asset bubbles and energy prices. In this context, the Report calls for action to build resilience – the ‘resilience imperative’ – and identifies practical examples of how it could be done. 

As resilience building is helped by the ability to analyse global risks from the perspective of specific stakeholders, the Report - for the second year - also provides country-level data on how businesses perceive global risks in their countries.

Prepared by The World Economic Forum

Infographic to clarify myths into facts about commercial real estate.

Consistency in reporting and transparency of performance metrics have become increasingly important for both institutional investors and fund managers as the industry strives for greater comparability.

To help the industry create a greater global alignment for fund managers, INREV has developed the new Performance Measurement module.

In this webinar Katie Smith, Head of Analytics at CBRE Global Investment Partners and Stafford Biddulph, Associate Partner at Rockspring presents the new INREV Guidelines module, its benefits and the practical implications.

The webinar will cover:

• An overview of the Performance Measurement module.
• Guidance on implementation.
• Comparison with GIPS.
• Practical examples.
• Potential impacts on the industry.

This research explores whether there is evidence of persistent performance among core open end European non-listed real estate funds.

In line with INREV Guidelines, this one hour webinar introduces the key building blocks to support best practice in the area of adjusted NAV calculation.

It includes a high level examination of using INREV Net Asset Value (NAV), including short explanation of the calculation examples.

The webinar includes the following topics:

• INREV NAV principles.
• Calculation example.
• How to report on INREV NAV and the level of disclosure according to INREV Guidelines.
• Q&A.

The webinar is led by Jef Holland partner at Deloitte.

Investors will commit a minimum of €48 billion to real estate in 2016 globally – an increase of almost 13% compared with last year’s €42.5 billion – according to the Investment Intentions Survey 2016, published today by INREV, ANREV and PREA.