22 Nov 2019

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

  • The Committee is looking at how the FCA's Policy Statement (PS19/24) on illiquid assets and open-ended funds will affect retail property funds.
  • The Committee is considering the impact of Brexit on daily traded PAIFs.
  • The Committee is engaging with RICS re Rapid Sale Pricing.
  • The Committee is liaising with MSCI on a NAV index for the retail funds.
  • The Committee is lobbying the platforms to ensure that all investors are able to benefit from the correct tax treatment of PAIF distributions.
  • The Committee have been assisting AREF and the Investment Association in their lobbying of HMT & HMRC for changes to Non-residents Capital Gains Tax. 

Next meeting: 12th December 2020

View more on the committee here.


Guy Glover

Guy Glover

Fund Manager, BMO Real Estate Partners

Guy is the Chair of the Retail Funds Committee and sits on the AREF Management Committee.
He is a fund manager at BMO Real Estate Partners. Prior to joining the group in 2004, Guy spent nine years at Wereldhave Property Corporation, where he was responsible for managing their UK portfolio.

Before this, he worked at Northampton Borough Council.

Guy graduated from the University of Reading with a BSc in Land Management and holds the RICS postgraduate diploma in Property Investment. He qualified as a Chartered Surveyor in 1994.