ANREV is now collecting investor reporting documents for its fifth Review of Investor Reporting Trends 2014, a survey of non-listed real estate funds in the Asia Pacific Region.

This project, which is again being undertaken in co-operation with PwC, reviews reporting practice in the Asia Pacific region in relation to the INREV Guidelines. It aims to analyse non-listed real estate funds’ investor reporting to determine the extent to which they comply with the INREV Guidelines on annual and interim reporting and to identify the current market best practices for this topic in Asia-Pacific. The INREV Guidelines were recently reviewed, updated and reissued, to access them click here: INREV Guidelines - ANREV.

Whilst 2013 investor reporting was performed whilst the new Guidelines were in White Paper form, the 2014 report will look at compliance with the new Guidelines. 

In order to assess compliance with INREV Guidelines, we would like to invite you to fill the self-assessment questionnaire, to access them click here: Guidelines_Compliance_Checklist. We would appreciate if you could send it back together with your latest audited annual reports and interim reports before 22 July 2014.  Note that in Asia, the “interim reports” required by the Guidelines, would often be the quarterly reports sent to investors, and in some cases, presentations which are made in quarterly investor calls. Each manager may determine what documents to submit, depending on how they report to investors, and where information relevant to the Guidelines is presented. Managers may wish to submit Q4 quarterly report, if one is issued to the same date as audited financial statements.

As with previous Investor Reporting studies, participating fund managers will be provided with high-level individual feedback on the reporting performance of their funds and areas for potential improvement, with a follow up physical meeting or phone call to discuss the findings.

To preserve confidentiality, your reporting documents should be submitted directly to PwC (contact details below). All information submitted by fund managers for the purposes of the study will be treated confidentially. ANREV management may also attend some feedback meetings unless a participant requests them not to. More information about PwC and their assurance on confidentiality are provided below.  

We would therefore appreciate it if you could send the latest audited annual reports and quarterly investor reports for your non-listed real estate funds to us as it becomes available at the address below, before 22 July 2014.

Private & Confidential

PwC

21/F, Edinburgh Tower

15 Queen’s Road, Central

Hong Kong

Attention: Stanley Tam

E-mail: [email protected]

If you have any questions with regard to the project please do not hesitate to contact the PwC project leader, Mr. Paul Walters, or Amelie Delaunay.

Thank you in advance for your support.We look forward to receiving your responses. 

Information on PwC

PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

CONFIDENTIALITY

PwC will treat all fund annual reports and other information provided by ANREV members and other fund managers for the purposes of this project as confidential and in accordance with PwC’s normal confidentiality policies and procedures. All such reports and other information provided for the project will only be used for the purposes of the project and will be stored in a secure location.

Neither the names of the participants in the study nor any financial data in the reports submitted will be published or referenced in the final report or otherwise.