The Association of Real Estate Funds (AREF) has appointed Kames Capital’s Director of Property Investment, David Wise, as its new Chairman. AREF is the representative body for UK unlisted real estate funds with 68 members that have a collective net asset value of circa £40 billion under management.
David Wise joined Kames Capital in October 2007 and is currently responsible for Kames’ direct property investment team and for the four funds the team runs. He will also be in charge of Kames’ new property authorised investment fund which launches in Q1 2014.
FUND MANAGERS FAVOUR ALTERNATIVE PROPERTY SEGMENTS, AREF STATISTICS REVEAL
The Association of Real Estate Funds’ (AREF) Investment Quarterly (IQ)* for the third quarter of 2012 reveals that over the last year balanced fund managers have been reweighting their portfolios to move away from mainstream to more alternative property segments – in particular leisure (either individual assets or parks), hotels, residential, student accommodation, health care and care homes.
The Association of Real Estate Funds (AREF) has voiced strong objections over the indiscriminate nature of the FSA’s proposed restriction on promoting Unregulated Collective Investment Schemes (UCIS).
In response to the European Commission’s consultation on UCITS VI, the Association of Real Estate Funds (AREF) strongly supports the proposals on long-term investment which will allow retail clients the choice to take a longer-term view when investing in property.
01 August 2012
Following extensive consultation with HMRC, the Association of Real Estate Funds (AREF) welcomes the final update to the tax regime for property authorised investment funds (PAIFs) which comes into force from today. This removes the final tax barriers to enable existing authorised funds to convert to PAIFs.
John Cartwright, Chief Executive of AREF, said:
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