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Best Practice Modules
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GL03 —
| COMPLIANCE OBJECTIVE |
SELF-ASSESSMENT PROCESS |
DISCLOSURE | OVERSIGHT AND ASSURANCE |
| 1. Corporate governance | |||
| Managers should evaluate the level of adoption of INREV best practices using the Corporate Governance INREV Guidelines Assessment Tool. | Managers and investors should refer to and consider adopting INREV corporate governance best practices when designing and implementing an oversight framework for a specific vehicle. | Managers should describe in their annual report and vehicle documentation their corporate governance practices and the degree to which they adopt INREV best practices. | Management and non-executive officers should review the adequacy of the description of the corporate governance framework. |
| 3. Property valuation | |||
| Managers should follow the valuation best practices when determining the fair value of the property portfolio and prepare required disclosures to investors. | Managers should evaluate the level of adoption of INREV property valuation best practices. | Managers should describe their property valuation policies and the degree to which they have adopted INREV valuation best practices in their annual report and vehicle documentation. | Management and non-executive officers should review the basis and adequacy of disclosure to investors summarising the level of adoption with the property valuation best practices. |
| 7. Liquidity | |||
| Managers and investors should refer to and consider adopting INREV liquidity best practices when designing non-listed vehicle products. | Managers should evaluate, using the Liquidity Guidelines Assessment, the level of adoption of INREV liquidity best practices. | Managers should describe their liquidity policies and the degree to which they have adopted INREV best practices in their annual report and vehicle documentation. | Management and non-executive officers should review the basis and adequacy of disclosure to investors summarising the level of adoption with the liquidity best practices. |
| 9. Code of Tax Conduct | |||
| Managers should evaluate their level of adoption of Code of Tax Conduct best practices when examining their own tax policies and practices. | Managers and investors should refer to and consider adopting Code of Tax Conduct best practices when designing and implementing an oversight framework for a specific vehicle. | Managers should describe in their annual report and vehicle documentation their practices referred to in the Code of Tax Conduct and the degree to which they adopt INREV best practices starting with reporting periods ending on or after 31 December 2021. | Management and non-executive officers should review the adequacy of the description of the Code of Tax Conduct framework. |
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