01 Sep 2020

A high level summary of what's being discussed in recent committee meetings:

  • The Committee is overseeing the work of the AREF Brexit Working Group to secure the best possible outcome and environment in which our industry can continue to thrive.
  • The Committee is being kept up to date on the proposal for a Professional Investor Fund.
  • The Committee is looking at the work of the Bank of England Commercial Property Forum. 
  • The Committee is monitoring the European Commission’s review of AIFMD.
  • The Committee liaises closely with RICs.

Short Term Objectives

  • Open-ended funds and illiquid assets
    Liaise with AREF Retail Funds Committee on the implications of the FCA Policy Statement on illiquid assets and open-ended funds (PS19/24) and the possible need for a new dealing model for authorised property funds.
  • UK Professional Investor Fund
    Support and assist with the proposal for a UK Professional Investor Fund in conjunction with The IA.
  • Brexit
    Oversee the work of the AREF Brexit Working Group to secure the best possible outcome and environment in which our industry can continue to thrive.
  • AIFMD 2
    Monitor the progress of AIFMD 2 and respond to any reports or consultations where necessary.
  • Respond to consultation papers published by the FCA, Government or other similar bodies that are of importance to AREF member, except ones in relation to taxation.
    This could be in the form of a response from just AREF or in partnership with other industry bodies such as The IA. Where appropriate, liaise with the AREF Tax Committee, to ensure responses do not have any tax implications.
  • Independent representatives on fund boards
    Monitor the FCA requirements for independent representatives on authorised fund boards and explore the extension of independent representation with other fund boards.

Long Term Objectives

  • Build on and maintain relationships with:
    • Regulators
    • Government
    • Other industry bodies such as RICS
    • Other AREF Committees such as AREF ESG & Impact Investing, Retail Funds and AREF Tax Committees.
  • Work closer with The IA – In particular The IA’s Government Affairs team.

Next meeting: TBC 2020 

View more on the committee here.

Author

Anthony Shayle

Anthony Shayle

Anthony Shayle formerly (until March 2020) Head of Real Estate Debt EMEA and  Portfolio Manager for UBS-PREMF within Real Estate Debt UK (RE-UK-DT), businesses-part of Real Estate & Private Markets within UBS Asset Management (UBS-AM). He was appointed Head of REUK-DT and Portfolio Manager for UBSPREMF in April 2013. In this role, he focused on growing the debt business within RE-UK-DT.

Anthony joined UBS-AM’s RE business in June 2009 as Head of RE-UK. This senior debt fund has deployed equity 1.4 times and as at September 2019 was showing an IRR at portfolio level of > 8%.

Prior to joining UBS, Anthony worked for AXA REIM (20052009), where he was initially Head of Business Development and Marketing UK and then Regional Head of UK, Benelux and Nordics. Anthony held various senior investment asset management, debt structuring, finance and accounting positions in the area of private equity and real estate in Curzon Global Partners, AXA REIM (in a previous period), RODAMCO, UBS, BZW and Bankers Trust. Over the last 20 years he has raised circa €2.3 billion of equity for real estate investment and debt strategies representing approximately €5.5 billion potential AUM.

Anthony is both a Fellow of the Association of Chartered Certified Accountants and the Royal institution of Chartered Surveyors.