Consolidated statement of financial position in accordance with INREV valuation principles
For the year ended 31 December 2023; amounts in € million
Consolidated statement of changes in equity in accordance with INREV valuation principles
For the year ended 31 December 2023; amounts in € million.
INREV expense metrics
The increase in ratio of the Total Expense Ratio (both NAV and GAV) from 2022 to 2023 is mainly due to the decrease of the average asset value in 2023.
Notes to the INREV financial statements
Amounts in € million
Independent auditor’s report
To the participants and the Supervisory Committee of Vesteda Residential Fund FGR
Annex 1: Key figures 2014-2023
* Excludes equity redemptions from Redemption Available Cash (RAC). 2018 and 2019 figures include capital repayments related to portfolio sales.
Annex 2: Legal structure
Vesteda is a mutual fund for the joint account of the participants. Investors may join the fund by taking an interest in the fund. The fund is transparent for tax purposes.
Annex 3: Members of the Management Board and Management Team
The Management Board consists of Gertjan van der Baan (CEO) and Frits Vervoort (CFO).
Annex 4: Members of the Supervisory Committee
Dutch. Former CEO of Multi Corporation and Redevco. Areas of expertise: real estate, investments, compliance, risk management.