AREF recognises key talent within the property fund industry at 2017 annual awards
The Association of Real Estate Funds (AREF) has recognised the key talent within the property fund industry at its annual awards dinner held on Wednesday 20th September. The awards dinner, which was held at the Dorchester Hotel, was attended by over 400 members of the property fund and real estate industry.
The awards, which are now in their seventh year, are given in the following categories: Performance: 5-year, risk-adjusted, relative return; Performance: 5-year, risk-adjusted, absolute return; Outstanding Individual Contribution; and AREF Affiliate of the Year. The awards given on performance are based on the long-running AREF/IPD UK Quarterly Property Fund Index, with independent calculations provided by MSCI.
The 2017 awards were presented to the following companies:
- Performance: 5-year, risk-adjusted, relative return: (1st) AEW UK Core Property Fund with an average quarterly risk adjusted relative return of 1.5%; (2nd) L&G’s Industrial Property Investment Fund with an average quarterly risk adjusted relative return of 1.3%; (3rd) Hermes Property Unit Trust with an average quarterly risk adjusted relative return of 1.1%
- Performance: 5-year, risk-adjusted, absolute return: (1st) L&G’s LPI (limited price inflation) Income Property Fund with an average quarterly risk adjusted absolute return of 3.1%; (Joint 2nd) M&G Secured Property Income Fund and Standard Life Investments Long Lease Property Fund with an average quarterly risk adjusted absolute return of 2.6%
- Outstanding Individual Contribution: John Forbes – for his work on cost transparency and for producing a flagship review of real estate fund behaviour following the EU Referendum
- AREF Affiliate of the Year: Intertrust – for its contribution to the Public Affairs Committee and collaboration on events
Deborah Lloyd, AREF Chairman, said: “The success of the real estate funds industry depends on a wealth of skilled individuals and businesses. Our awards recognise this exceptional talent by rewarding those who have made a significant contribution to the industry and highlighting funds which excelled in meeting investor expectations.”
Richard Tanner, Portfolio Manager of the AEW UK Core Property Fund, commented: “We are delighted to have been recognised by AREF in this way, which reflects all the hard work by the team since the inception of the Core Property Fund. It is also testament to the team’s enduring quality, having outperformed the index by over 2% per annum over the past 20 years. We will continue to pursue our successful investment strategy of seeking superior investment returns for our investors through exposure to a diversified range of commercial property assets.”
Derek Gilby, Senior Fund Manager at Legal & General Investment Management, said “I am delighted that the LPI Income Property Fund has received the prestigious AREF 2017 award for 5-year, risk-adjusted, absolute return performance. The flagship LGIM Real Assets Fund was launched in 2010 offering Defined Benefit pension schemes an innovative way to invest in direct property and has since grown to in excess of £1bn. Investors’ needs are met through acquiring assets that offer long-term income streams and investment grade credit providing an attractive hedge against inflation through uplifts built into the lease structures, and the portfolio generates income yields well in excess of those from comparable asset classes such as index-linked gilts.”
John Forbes of John Forbes Consulting LLP said "It was an immense honour to be asked to undertake these important pieces of work for the industry and it is a huge privilege to be further rewarded by AREF for completing the task”.
Commenting on the win, Global Head of Fund Services, Paul Lawrence at Intertrust Group said: "We're delighted to have received the Affiliate of the Year award. It's important for us to work closely with industry bodies like AREF and to contribute to the work that AREF is doing on behalf of the real estate industry. It is more important than ever for real estate to be represented by a strong voice."
Photos of the 2017 AREF Annual Dinner & Awards can be viewed by clicking here.
Notes to Editors
Annual dinner & award sponsors: Gold sponsor: RBC Investor & Treasury Services; Silver sponsor: Lothbury Investment Management
The purpose, selection criteria and process for the awards can be found on the AREF website: http://www.aref.org.uk/www.aref.org.uk/aref_annual_awards
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About The Association of Real Estate Funds (AREF):
- The Association of Real Estate Funds (AREF) is the voice of the real estate funds industry.
- Full members have a collective NAV of circa £65bn under management and the majority are benchmarked using the leading AREF/IPD UK Quarterly Property Fund Indices (QPFI).
- We are recognised by policy makers, regulators, tax authorities and other official organisations as the leading representative of real estate funds and therefore have the ability to influence the way our industry evolves.
- Investors and advisers are aware of the high standards our members adhere to, both in transparency and corporate governance, promoting confidence in investing in real estate through member funds.