2014 INREV Guidelines

09 Apr 2014

After 18 months of consultation, including input and feedback from over 300 industry participants, the revised INREV Guidelines are online and ready for implementation. The Guidelines’ structure has been completely overhauled to be more user-friendly and accessible, and to respond to future market changes.

A number of substantive changes have been made, particularly in the areas of corporate governance, liquidity and reporting. This new set of industry guidelines will help boost transparency and performance analysis and promote greater investor choice.

The INREV Guidelines 2014 consist of the following:

  • Seven modules: Corporate Governance, Reporting, Property Valuation, INREV NAV, Fee and Expense Metrics, Liquidity and INREV Data Delivery
  • Seven tools: compliance checklist, corporate governance self assessment tool, due diligence questionnaires for fund managers and for fund of funds managers/ multi-manager, standard non-disclosure note, debt and derivative disclosure note, and SDDS
  • Seven examples: compliance decision tree, statement of level of adoption of INREV Guidelines, sustainability reporting recommendations, capital calls and distribution, INREV NAV computation, calculations and presentation of fee and expense metrics and structure of a private placement memorandum.

Ongoing development will see modules, tools and examples added where and when needed.


For further information on the Guidelines, please contact Amélie Delaunay at


INREV Guidelines 2014 [PDF]
INREV Guidelines 2014 Snapshot [PDF]
INREVガイドライン2014 [PDF]
INREVガイドライン2014スナップショット [PDF]
INREV Definitions 2014 [PDF]
INREVガイドライン2014 - 定義集 [PDF]