INREV expense metrics

 

2016

2015

Total Expense Ratio (NAV)

0.80%

0.68%

Total Expense Ratio (GAV)

0.54%

0.44%

   

Real Estate Expense Ratio (GAV)

1.48%

1.61%

Fund expenses are the management expenses in the consolidated statement of comprehensive income. Property specific cost are the property operating expenses including non-recoverable service charges in the consolidated statement of comprehensive income.

The weighted average INREV NAV is calculated as the closing INREV net asset value of five individual quarters (Q4 2015 – Q4 2016), divided by five. The quarterly figures of Q1, Q2 and Q3 2016 are unaudited.

The weighted average INREV GAV is calculated as the closing INREV gross asset value of five individual quarters (Q4 2015 – Q4 2016), divided by five. The quarterly figures of Q1, Q2 and Q3 2016 are unaudited.

The Total Expense Ratio (NAV) is calculated by dividing the fund expenses by the weighted average INREV net asset value.

The Total Expense Ratio (GAV) is calculated by dividing the fund expenses by the weighted average INREV gross asset value.

The Real Estate Expense Ratio (GAV) is calculated by dividing the property specific cost by the weighted average INREV gross asset value.