To enable a representative cross-section of member funds’ investors, advisers and industry bodies to share views, experiences and requirements objectively and openly with each other. Through the Chair, and in consultation with other AREF committees, assist AREF in promoting (i) best practice in corporate governance; (ii) provision of the highest quality information and data to both existing and prospective investors and (iii) AREF membership as an acknowledged quality standard.

Membership Structure (Preferred)

  • Members are appointed as individuals, according to their personal skills, experience and current post. (For the avoidance of doubt, if a member is unable to attend, their current firm may not send an alternate). 
  • In order to maintain independence, no member of this Committee may be a representative of a Full Member (individuals separated by Chinese Walls within representative firms may be acceptable).
  • Affiliate Members are generally acceptable.
  • The Chair is appointed by the AREF Board
  • Members are approved by Management Committee, after recommendation by the Chair
  • The AREF Chief Executive is not a member of the Committee but likely to be in attendance on a regular basis.
Chair  Senior industry professional; member of Management Committee
Investment Consultants  Maximum 2
Investment House Asset Allocators  Maximum 2
Multi-Managers Maximum 4
Pension Funds Representatives/Managers Maximum 2
Life Company Representatives Maximum 2
Other End Investor Representatives Maximum 2
IFAs, Wealth Managers, etc  Maximum 2
Investor Organisation Reps, e.g. NAPF, ABI  1 each from agreed invitee organisations
AREF Secretariat 1


Current Membership  


  • Keep under review AREFs Code of Practice, in the light of evolving commercial and regulatory requirements on investors and inform AREF of potential areas for enhancement.
  • To be aware, and inform AREF of, developments in investor relationships in other asset classes and in other real estate markets.
  • Working with the Corporate Governance Committee to provide input to the evolution of the Code, including direct participation in the Code of Practice Working Group.
  • Provide AREF with insight into broader social and political issues and trends concerning investor groups, working with the Environmental and Social Governance Committee as necessary.
  • Provide opportunity for investors to give feedback to AREF who are not on the Committee.
  • Provide input into the evolution of the Pooled Property Fund Indices, AREF Questionnaire and AREF Investment Quarterly Report, working with the Indices and Data Committee as necessary.
  • Assist AREF in raising awareness of role and benefits of the association to funds, managers, investors and official bodies, by suggesting topics for events, articles, member notes and web-site content to the appropriate committees through the CEO.
  • Consider items specifically delegated from Management Committee
  • Support the Chair in identifying and recruiting appropriate members to the Committee.
  • Review terms of reference biennially

Reports to

AREF Management Committee

Liaises with

  • AREF Corporate Governance Committee
  • AREF Environmental and Social Governance Committee
  • AREF Indices and Data Committee
  • Other real estate and investor organisations as required

Meeting timing and frequency

Quarterly full meetings, ideally a month or thereabouts before the AREF Management Committee
Ad hoc full or partial meetings as required
Minutes circulated to Committee and included in AREF Management Committee papers
Requests for approvals to AREF Management Committee required at least two weeks in advance