ANREV, INREV, NCREIF and PREA are pleased to jointly release for industry consultation the first globally comparable measure of fees and costs named Total Global Expense Ratio (TGER).

The new proposed global standard measures the fees and costs related to participation in a real estate investment vehicle and enables comparison across products, regardless of the vehicle domicile, structure and management activities.

The Total Global Expense Ratio incorporates definitions from the Global Definitions Database, bringing consistent terminology for the most widely used vehicle fees and costs that may be charged directly and indirectly by investment managers and service providers.

The consultation process for TGER runs until 21 June to provide the industry with the opportunity to help design a global standard that is simple, practical and facilitates comparison and consistent reporting of fees and costs.

TGER and the GDD are initiatives of the Global Standards Steering Committee, established as a collaboration between INREV, ANREV, NCREIF and PREA to jointly develop comparable reporting standards for institutional real estate investment vehicles on a global basis.

For further information please contact:

Amelie Delaunay, ANREV

Constantin Sorlescu, INREV

Marybeth Kronenwetter, NCREIF PREA Reporting Standards

ANREV has launched the third release of the IRR by vintage index. The ANREV IRR/Investment Multiple Index (The IRR Index) measures performance of value added and opportunistic non-listed closed end funds focused in Asia Pacific.

As this index is still relatively new, we would welcome any comments - please email [email protected]

ANREV has launched the first release of the ANREV Pan Asia Open-End Diversified Core Fund Index (Pan Asia ODCI).

The index serves demand from institutions investing in diversified core funds in Asia Pacific. 

As this is a new index, we would welcome any comments - please email Ricky Cheng at [email protected] or Amélie Delaunay at [email protected]

ANREV’s Technology & Innovation Working Group is working on a series of short papers aimed at helping ANREV members to better understand technology-related topics, share information and organisational best practices. The first paper deals with blockchain.

If members have any questions, or require a more detailed explanation of any of the points referenced in this note, please contact the ANREV Technology and Innovation Working Group at the following e-mail address: [email protected]

We would also be keen to hear members’ experiences of blockchain, and/or their views on how this technology will impact the industry in the coming years.

The ANREV Australia Monthly Index saw a total return of 0.32% in March 2018, the one year rolling return at 12.47% illustrating the strong performance of the Australian market. The ANREV Australia Core Open End Fund Monthly Index currently includes 19 funds with a total GAV of AUD 96.43 billion.

The February 2018 release includes 2 new funds as well as 2018 year to date figures.

Please contact Amélie Delaunay at [email protected] or Ricky Cheng at [email protected] if you have any questions regarding the Index.

Chateau Mount Tai is a high-quality neo-Chinese residential development located in Tai’an city at the foot of Mount Tai. White Peak (“WP”), a Swedish fund manager and developer, acquired the land in 2014 and developed it with a vision to create one of the most iconic ecocommunity in this famous and historically significant city.

The project received exceptional sales result with transaction price of 30% higher than market competitors. Chateau Mount Tai has become an iconic development in Tai’an bringing new living standard to the local market. The success of Chateau Mount Tai was followed with a second investment from White Peak in Tai’an.

The ANREV Australia Monthly Index saw a total return of 0.35% in January 2018, the one year rolling return at 12.78% illustrating the strong performance of the Australian market. The ANREV Australia Core Open End Fund Monthly Index currently includes 17 funds with a total GAV of AUD 90.53 billion.

Please contact Amélie Delaunay at [email protected] or Ricky Cheng at [email protected] if you have any questions regarding the Index.

At this briefing Mr. Richard White, a senior UK real estate tax partner at EY shared an update on the significant changes in the UK in relation to the taxation of real estate.From April 2019, UK tax will be chargeable on gains made by non-residents upon direct and indirect disposals of UK immovable property, regardless of the nature of the property and investment or trading intentions. Join us to hear more about these key updates from EY’s leading expert.