Asian fund body endorses the Inrev guidelines

The Asian Association for Investors in Non-listed Real Estate Vehicles (Anrev) and its European counterpart, Inrev, have announced Anrev is endorsing the Inrev Guidelines in Asia. The two bodies have also agreed on the sharing of expertise on research projects and data systems.

This is the next phase of the co-operation to promote transparency in the Asian non-listed property funds industry.

The Inrev Guidelines provide fund managers and investors with an integrated set of principles guidelines and recommendations for governance and information provision for non-listed property funds. Under the co-operation, Anrev will promote adoption of the Inrev Guidelines to its members.

In addition, Anrev will develop an Asian vehicles database based on the same model and data system used by Inrev in Europe. The Inrev Vehicles Database has information on 476 funds with a gross asset value of €271 bn. The results of the database provide the basis for analysis on the size and composition of the market. It is also the foundation for all other Inrev research projects. The Asian vehicles database and the results of the research projects will be made available to Inrev's membership.

Inrev will open up its programme of research projects to Anrev to be replicated in Asia. The two organisations have already co-operated on two Investment Intentions Asia reports, which analyse expected trends in the Asian non-listed funds market for the next 12 months.

'We are pleased that the building blocks to Inrev's success in Europe can now be implemented in Asia to the benefit of both memberships. As the non-listed property funds industry continues to become increasingly global, a common platform for guidelines and research in Europe and Asia will ensure a high level of consistency for investors and fund managers,' said Johan van der Ende, chairman of Inrev and CIO of PGGM.