Secondary Market Trading

One of AREF’s key aims is to ensure our Fund Members adopt the highest possible standards of transparency and corporate governance.  To assist in this we expect our Fund Members to contribute to the Property Fund Vision (PFV) Handbook. Many of AREF’s Fund Members permit trading of their units on secondary markets. Each quarter, data on secondary market trading in these funds is published in the PFV.

If you would like to know more about investing in the non-listed real estate funds secondary markets we would recommend reading INREV’s Pocket Guide to Secondary Markets 2020 Paper. This provides non-listed real estate investors with insights into secondary markets, their uses and benefits.

To improve transparency and comparability within the non-listed real estate funds secondary markets, AREF supports the use of a standardised Sale and Purchase Agreement. INREV have developed a template for a Sale and Purchase Agreement which has been designed as a general guide to understand the main rights and obligations of buyers and sellers.

If you have any suggestions or thoughts on how AREF could assist in improving the experience of investors trading in the non-listed real estate funds secondary markets please contact our Policy Secretariat, Jacqui Bungay (