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Welcome to our new investors page.

Both our fund members and AREF itself have your, the end investor's, best interests at heart. We intend to build this page to become a one-stop-shop for professional investors on industry matters and I hope you find it both informative and educational. We would love to hear from you, particularly regarding what you would like to see on this page. Please email your ideas to

Deborah Lloyd, Chair of AREF

AREF August Newsletter 2018

Read the full newsletter by clicking here

04 September 2018

AREF July Newsletter 2018

Read the full newsletter by clicking here

31 July 2018

Institutional Investor Cost Disclosure

The Institutional Cost Disclosure Working Group (IDWG) was formed to gain agreement on templates for cost and fee disclosure by asset managers to institutional investors including one dedicated to physical assets. 

The Group published a summary of its recommendations in July 2018. Click here to view the IDWG webpage, includingthe recommendations. The use of the templates is expected to be voluntary, though encouraged. 

24 July 2018

AREF's response to BEIS consultation on Limited Partnership Law

AREF submitted its response to this consultation on Friday 20th July. 
For a link to the consultation click here.
For a link to AREF's response click here.
To read more about this and other initiatives the Public Affairs Committe are working on click here.
20 July 2018

Chairman's Overview

Please click here to view the Chairman's Overview

19 July 2018

Capital Gains Tax legislation released

The draft legislation (excluding funds) and the proposed treatment of funds were published on Friday 6th July 2018. For more information and links to the legislation please click here.

13 July 2018

AREF June Newsletter 2018

Read the full newsletter by clicking here.

29 June 2018

Great Brexpectations? Opportunities and threats for real estate funds- a paper commissioned by AREF

With Brexit just months away, we still have no certainty on what this means for the investment fund industry. At the Association of Real Estate Funds we asked a selected group of experienced individuals , all grappling with different Brexit issues, for their views on the implications, opportunities and threats.
22 June 2018

AREF Inaugral FutureGen Drinks Event - 11th July

For more information on the AREF FutureGen event see the events page of the AREF website here

This event is open to FutureGen contacts at Investor Firms. 

05 June 2018

AREF promotes transparency & corporate governance with launch of Quality Mark. 

Click here to view full press release.

04 June 2018

Tax: UK pension Funds digest implications of proposed tax change

Deborah Lloyd, Chair of AREF and Cathryn Vanderspar, Eversheds Sutherland explore what the UK's capital gains tax proposals could mean for pension funds, and how AREF is responding.

Click here to read the full article.

29 May 2018

MSCI Consultation on EU Benchmark regulation regarding EU Real Estate Indexes

MSCI have released a consultation (Link) on EU Benchmark Regulation in relation to the MSCI Asset-based and Fund-based Real Estate Indexes. The deadline to respond to this consultation is 18 May. 

To view the summary of the roundtable AREF held on 3 May please click here.

25 April 2018

Retail Property: Time to check out? 

Amid poor retail data, the rise and rise of internet shopping and recent high-profile retail failures, John Cartwright, CEO of the Association of Real Estate Funds (AREF) asked three prominent members of AREF to give their views on this troubled sector.

This article was written specifically for the IFA investor channel and published by Adviser-hub, who have over 15,000 subscribers.
5 April 2018

AREF Code of Practice & Self Certification Matrix

One of our key aims is to ensure that fund members offer consistently high products and services to professional investors and advisers by adopting the highest possible standards of transparency and corporate governance.  The AREF Code, and the policing of it, is the critical element of that aim.  Click the link above to view our most recent version of the Code as well as the Self-Certification Matrix.

14 March 2018

Budget 2017 -  Capital Gains Tax for non-residents

AREF recently hosted two events on CGT to gather industry views for the response to the HMT/HMRC Consultation.  Click the link above to view further information.

19 February 2018

Survey of Financial Advisors - Quarterly report - November 2017

15 December 2017

Open Ended Fund Pricing Study

AREF partnered up with INREV, the European Association for Investors in Non-Listed Real Estate Vehicles, to initiate a focus group of real estate investment managers and advisors to fully discuss and analyse the issues involved. Click the link to read more about the project and view the consultation.

29 November 2017

A review of Real Estate fund behaviour following the EU referendum

This report, commissioned by AREF, from John Forbes Consulting assess the impact of the EU referendum result on the real estate market and evaluates whether any improvements could be made.  Click the link to read the report.

April 2017

For more information on our Investor Committee, please click here.

For all Professional Investor queries or questions for our Investor Committee, please email: