8 June 2022 9am – 10am + Add to calendar Webinar Webinar

We are delighted to invite you to join our webinar discussing the Guidance on Expense Ratios. Our expert speakers will discuss the TGER requirements, changes to the current guidance and how this affects members. 

Following a consultation with AREF members in early 2022, AREF has brought its Guidance on Expense Ratios in line with the Total Global Expense Ratio (TGER ) agreed by INREV, ANREV, NCREIF and PREA. The new guidance should be followed  from 1st April 2022. AREF Fund Members are expected to follow the TGER  requirements.  

More information, including a Q&A section, can be found on the AREF webpage here

Confirmed speakers:

  • Speaker: Jacqui Bungay, Policy Secretariat at AREF
  • Speaker: John Forbes, Consultant at John Forbes Consulting discussing changed to the guidance
  • Speaker: Constantin Sorlescu, Professional Standards Manager at INREV discussing the TGER

Jacqui Bungay

Policy Secretariat, AREF

Jacqui provides policy guidance and secretariat services to the AREF Board and AREF Management Committee as well as the following AREF Committees: Corporate Governance, ESG & Impact Investing, Investor, Public Affairs, Research and Information and Retails Funds. In addition, Jacqui monitors members’ compliance with AREF’s Code of Practice. 

Jacqui joined AREF in 2014 after working for over 25 years in fund compliance, client relationships and administration at Natwest Trustee & Depositary Services.

John Forbes

Independent Consultant, John Forbes Consulting

John Forbes is an independent consultant advising real estate investment managers, investors and others in the real estate industry in the rapidly changing areas of product development, governance and regulatory matters for real estate funds.  He has advised on the restructuring of high profile open and closed-ended real estate funds in the UK and elsewhere in Europe, as well as the establishment of new funds. He has advised service providers to the real estate investment management industry on the strategic implications of regulatory and other changes.  Prior to setting up John Forbes Consulting LLP in 2013, he spent over twenty-five years with PwC, where he led the firm's Real Estate Industry Practice in Europe, the Middle-East and Africa across all of the firm's services to the real estate industry.

John is the chairman of the Independent Supervisory Board of the UBS Triton Property Fund, independent chair of the Urban Splash Residential Fund and non executive chairman of Ginkgo Advisor UK Limited.

Constantin Sorlescu

Director of Professional Standards, INREV


Wednesday 8th June 2022


09.00hrs - 10.00hrs

Webinar details: 

Webinar details will be sent out ahead of the event.


  • This webinar is FREE and open to all staff from AREF Fund, Affiliate, Associate and Investor member firms (view our list of members here). 


If you would like to join, hit the book button below and add to your calendar!

Please register using this link, or click the button below. Alternatively you can contact us on Info@aref.org.uk