29 Sep 2020

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

  • The Committee will be monitoring the effect of the parallel run, by MSCI, of the time-weighted return methodology on the MSCI/AREF UK Quarterly Property Fund Index.
  • The Committee has commissioned a research project for 2020. 
  • The Commiittee is working with MSCI on improving the timeliness of submissions for the index and Property Fund Vision (PFV). Also, it is monitoring improvements in the production time for the PFV. 
  • The Committee is liaising with MSCI on how additional data could be collected on the AREF Questionnaire.
  • The Committee oversees output of MSCI/AREF Index Working Group.
  • The Committee is monitoring a request to MSCI for a Retail Funds Index.

Short Term Objectives

  • Production of the UK QPFI. Continue to liaise with MSCI concerning all performance measurement, analysis and data collection issues, ensuring quality control. Liaise with investors and their representatives to guarantee this meets their data analysis requirements.
  • Provide a forum for discussion about the index and PFV. Run an appropriate number of education and discussion sessions for members specifically around MSCI’s consultation 'time-weighted return methodology' for the UK QPFI.
  • Promoting consistency and integrity of UK QPFI. Working with AREF Executive and Secretariat to ensure an appropriate level of profile for the UK QPFI in order to improve transparency and confidence in the industry.
  • Lead investigation into changing nature of UK Institutional Real Estate Funds Industry. Commission, manage and articulate findings of specialised research into how the industry has and needs to adapt to the evolving needs and requirements of investors.

Long Term Objectives

  • The MSCI/AREF UK Quarterly Property Fund Index (UK QPFI)
  • The Property Fund Vision Handbook
  • Research and statistical analysis of data relevant to the UK institutional real estate funds industry
  • Providing a discussion forum for any topical issues related to research and information, allowing members to learn and network

Next meeting:26 November 2020

View more on the committee here.

Author

Justin Brown

Justin Brown

Managing Director, BlackRock

Justin is the Chair of the AREF Research & Information Committee. 

Justin is Managing Director at BlackRock, and a member of the Real Estate Team and Portfolio Manager of the BlackRock UK Property Fund. He is responsible for management and performance of the Fund. He leads a team of investment professionals dedicated to the management of the Fund.
 
Justin joined BlackRock from UBS Global Asset Management in 2012. He has worked within the UK property industry for 18 years focusing primarily on fund management and investment.
 
Justin has a Bachelor of Economics degree from University of Tasmania (Australia) and a Post Graduate Diploma in Estate Management from Southbank University. He qualified as a Chartered Surveyor in 2000.