To represent the interests of AREF members and investors in ensuring the positive development of the:

  1. AREF/IPD UK Quarterly Property Fund Indices (UK QPFI)
  2. Property Fund Vision (PRV) Handbook

and initiate and oversee research and statistical analysis of data provided for the index and the PRV Handbook.

Membership Structure (Preferred)

The majority of members of this committee are likely to be from Investment Houses, rather than Affiliate firms. In accordance with normal AREF policy, there may not be more than one committee member from a single house as the same type of representative.

Chair Chair must be a Fund Management Representative
Fund Management Representatives Minimum 2 in addition to Chair
Investment House Operations  Minimum 2
AREF Secretariat 1


  • Ensure quality control around the production of the UK QPFI.
  • Liaise with MSCI concerning all performance measurement, analysis and data collection issues.
  • Promote consistency and integrity of UK QPFI in order to improve transparency and confidence in the industry.
  • Liaise with other AREF committees and working groups on the subject of performance measurement and data analysis within AREF.
  • Liaise with investors and all their representatives with the objective to meet their data analysis requirements.
  • Through the AREF Executive and Secretariat, ensure an appropriate level of profile for the UK QPFI and other products both within the membership and externally.
  • Inform AREF membership promptly of urgent matters through AREF Executive and Secretariat.
  • Subject to approval of financial spend by AREF Management Committee, commission specialist research where there are benefits to AREF members or the wider property investment community.
  • Review Terms of Reference annually.

Reports to

AREF Management Committee

Liaises with

Other AREF Committees, as appropriate
Other real estate and investment organisations as required

Meeting timing and frequency

Quarterly full meetings.
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