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