Post-event summary
AREF’s FUNDamentals Training Series continued on Wednesday 4 March with Session Four, “Introduction to Fund Terms”, hosted by PGIM Real Estate.
Part of AREF’s six-part training programme, developed by the Education and Training Committee and sponsored by Aztec Group, the series aims to build members’ understanding of real estate funds across key areas of fund management.
Following a welcome from Aztec Group, the session was led by:
- Will Lawrence, Partner, Funds and Indirect Real Assets, CMS UK
- Martin Gilbert, Senior Director, DTZ Investors UK
The session explored key terms commonly found in fund documentation and the considerations investors should keep in mind when assessing them.
Key topics covered
Governance
Why governance matters for investor confidence and industry reputation, including the role of fund documentation, investor committees, key person provisions and conflict management.
Economics
How fund fees work in practice – including management fees, asset-level fees and performance fees – and why investors should look beyond headline pricing to understand the total cost of running a fund.
Liquidity
The different liquidity approaches used in open-ended, closed-ended and hybrid funds, and how recent market conditions have affected redemptions, extensions and fund structures.
The session included interactive discussion and questions, helping bring technical fund concepts to life through practical examples and investor perspectives.
Thank you to Aztec Group for sponsoring the FUNDamentals series, PGIM Real Estate for hosting, and Will Lawrence and Martin Gilbert for sharing their expertise.
The materials are available to AREF members via the secure Members Area of our website. Please click here or the blue button to log-in and view.
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