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General introduction

To provide investors with information on the transition from Net Asset Value (NAV) according to IFRS to adjusted NAV based on INREV valuation principles, the Vesteda Residential Fund FGR (VRF FGR) also publishes its financial statements in

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INREV expense metrics

The decrease in ratio of the Total Expense Ratio (both NAV and GAV) from 2017 to 2018 is mainly due to the extension of assets under management in 2018.

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Notes to the INREV financial statements

(Amounts in € million)

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Independent auditor’s report

To the participants of Vesteda Residential Fund FGR

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