Presentation on theme: "1. NCREIF Mission NCREIF is a not-for-profit trade association that serves its membership and the academic and investment community’s need for improved."— Presentation transcript:
NCREIF Mission NCREIF is a not-for-profit trade association that serves its membership and the academic and investment community’s need for improved commercial real estate data, performance measurement, investment analysis, information standards, education, and peer group interaction by: – Collecting, processing and reporting data in a secure environment; – Producing performance measurement indices; – Encouraging academic and member use of NCREIF data for objective research; – Providing forums with strong educational content to address industry issues; – Publishing informed industry related articles and performance reports; and – Contributing to the development of real estate information standards. 2
NCREIF Membership Institutional Real Estate Investment Managers – 94 Major Pension Funds – 44 Service Providers (Appraisers, Accountants, Consultants, Analysts) – 102 Academics – Professors of Real Estate at major universities – 40 3
NCREIF Data Products & Services NCREIF Property Index (NPI) – Several Report and Spreadsheet products Fund Indices – Open End Diversified Core Equity (NFI-ODCE) – NCREIF Townsend Fund Indices – NFI All Open End Fund Index NCREIF Farmland Index NCREIF Timberland Index Custom Data Products – Website Query Tool – Operating Database Query Tool – Special Data Runs Specified by Members 4
NCREIF Property Database as of Wealth of information on trends and performance Data Set# Props$ Market Value Tax Exempt Core 7, Billion Non-Core 1, Billion Sub Total 8,194 $334.8 Billion Taxable Core Billion Non-Core Billion Sub Total 846 $27.9 Billion Total Active 9,040 $362.7 Billion 5
NCREIF: Recap of 2012 Objectives Objective Complete corporate structure/hire CEO Address Member needs: expand collection, provide direct reporting, provide service options. Release Timberland Fund & Separate Account Index. Release All-Open End Fund index. Make REIS “commercially viable”, strengthen relationship with PREA. Engage other industry participants; Inrev, Anrev. Maintain high standards of reporting Results/Status Hired Peter Steil, key hires, BOD Common template – 4Q2012; transition ODCE collection back to NCREIF; providing service options at November conference. Released the NPI-TFSAI in May 2012 Released NFI-OE in August NFI-ODCE is a subset Led effort to engage PREA, redraft bylaws & produce business plan. Compliance checklist complete. Work-in-progress: closed-end fund standards and debt valuation Has consistently and reliably delivered indices/products 6
Common Template Initiative – Current State Data Flow: Data contributors send data to many different receivers each quarter. Existing process adds excess time and pressure on the data contributors by: Having to submit data in different collection formats. Data definitions varying slightly between receivers. Providing data on different schedules. Often the data sent is the same (common) between receivers. Receivers are responsible for validating data each quarter. 7
Common Template Initiative – Future State Data Flow: 8
Streamline and consolidate data submission and delivery: Single industry common submission template for Fund, Property and Investment level data. NCREIF performs validation with contributors prior to distribution. Provide data to recipients in desired format and when needed. 9 Decrease time and cost data contributors spend processing data collection templates and sending to: Consultants Index producers Other industry analytical firms Decrease data validation time and cost spent validating the data each quarter. Deliver validated data to consultants and other users in desired format to support their existing systems and business process. Ensure member consent in how their information is used. Provide open-architecture and low-cost access to high-quality information. Project Overview: Project Benefits:
NCREIF Preliminary Objectives Objective Implement Common Template Implement service options as directed by the membership Address plan sponsor and consultant needs more directly Release global fund index with Inrev and Anrev. Share best practices on index construction and standards Collaborate with closed-end fund contributors to enhance fund indices Website-better access & informed insights Benefits Reduces industry costs Provide open architecture Ensure member consent Provide options to the membership, possibly reduce costs and provide common standards Identify specific deliverables for plan sponsors (consultant initiative in-progress) Provide global transparency, better comparability and best practices Improve consistency of reporting and standards Better understanding of performance drivers 10 Additional suggestions from NAREIM members?
Boards of Directors: NCREIF, Inrev & Anrev NCREIFINREVANREV Chair Mark Roberts, RREEFPatrick Kanters, APGNicholas Loup, Grosvenor Vice/Deputy ChairRon Kaiser, BailardDeborah Lloyd, NabarroWillem de Geus, Morgan Stanley CEOPeter Steil, NCREIFMatthias Thomas, InrevJeremy Stewardson, Anrev Secretary/OfficerTom Mulvin, VirginiaErwin Stouthamer, Comp. CapitalDaan van Aert, APG Treasurer/OfficerPat Tully, ClarionTimo Loyttyniemi, VER FinlandRobert Lie, CITIC Capital OfficerGraham Mackie, UBS OfficerWai Keong Kwok,GIC Directors/Mgmt Bd.Stephanie Brower, RussellChristian Delaire, AEWChris Heady, Blackstone Alyce DeJong, PrudentialIris Aalders, CBRE GlobalJohn Saunders, MGPA Blake Eagle, FounderJeff Jacobsen, LaSallePhilip Ling, LaSalle Bill Hughes, UBSJens Christian Britze, ATPWilson Leung, Angelo Gordon Asieh Mansour, CB Richard EllisMatthew Ryall, AllianzChris Reilly, Henderson Stanton West, Ohio STRSMichael Morgenroth, SIGNAMark Fogle, Baring PE Asia Neil Harris, GICRichard Price, CBRE Global Noel Manns, Europa CapitalAndrew Wieir, KPMG Udo Schaffer, E.ON AGCharles Cosgrove, ARCH Capital Cheng-soon Lau, Invesco Robert Hattersley, Lend Lease Nicholas Harris, The GPT Group 11
12 On behalf of the NCREIF Board of Directors Thank you!