Liquidity Management

View the updates on this topic.

Public Policy Committee - Update

The Committee is monitoring proposed changes to a wide range of regulations and legislation that affect AREF members. Also, they are actively lobbying policy makers in the UK and internationally. Click for more info.

Sustainable finance and climate change disclosures

Find out more about the policy work being undertaken by governments, regulators and standard setting bodies in relation to sustainable finance and climate-related disclosures.

Reserved Investor Fund

Legislation for an unauthorised co-ownership contractual scheme, the Reserved Investor Fund (RIF), was included in the Finance Act (No.2) 2024. Click here to see AREF's response to the Government's consultation on tax rules for the RIF which it is hoped will be implemented in secondary legislation in the summer of 2024.

Press Release: New fund type expected this year to unlock billions for levelling up and other essential projects

European Long-Term Investment Fund (ELTIF)

Find out more about the review of the ELTIF regulations here

AIFMD

View AREF's work on this topic...

Enabling DC pension schemes to invest in illiquid assets

Find out more here about the Government's work to enable DC pension schemes to invest in illiquid assets. Also, there are links to guidance from TPR and cases studies from PLSA which supports this and AREF's own lobbying to the Government on this matter.

ESG Ratings and Data Providers

In December 2023, ICMA and IRSG launched their voluntary Code of Conduct for ESG Ratings and Data Products Providers. More details can be found here about the work by regulators and governments on ensuring good governance by ESG ratings and data products providers.

Long-Term Asset Fund (LTAF)

The FCA have confirmed that they will not be taking forward their proposal to exclude FSCS cover for regulated activities relating to LTAFs at this time. Click here for more details about this and the Long-Term Asset Fund (LTAF) in general.

Review of the UK Funds Regime

Find out more about the review of the UK Funds Regime by the Government and the FCA.

Member only content

Productive Finance

View the update on this topic.

Open End Fund Pricing Guidance

The Open End Fund Pricing Project is an industry-wide project conducted in collaboration with INREV. View the latest updates with the project.

FCA - Consumer Duty

The FCA have published their Consumer Duty rules. This is the first of 5 milestones to prepare for the new rules to take effect.

Cost Transparency Initiative

View materials on the Cost Transparency Initiative (CTI)

UK Limited Partnership

SDLT & LBTT - PAIFs & CoACSs

View AREF's work on this topic...

Report - A review of real estate fund behaviour following the EU referendum

Report for AREF Unlisted funds - Lessons from the crisis.pdf

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