26 Oct 2021

Last year Property Funds Research conducted a significant research project, commissioned by my predecessor in 2019, in which many of you took part.  A section of the project consisted of a series of interviews with AREF Members and other industry participants looking at the issues which they thought would be important for AREF to address over the next decade. 

An important theme in the responses was some fairly hard-hitting feedback on the AREF/MSCI UK Property Funds Index, in particular around the need to update the data collection process, to provide greater sector disaggregation and to include more information on performance with regard to ESG and climate change. 

MSCI were already considering a number of changes to the index and the process but, in response to the Member feedback from the research project, AREF and MSCI are running a series of roundtables to gather Member feedback on detailed proposals for the collection of additional data. 

The Index is fundamental to AREF’s mission to promote transparency in the UK property funds industry in order to attract capital into the sector, and it is important to AREF and MSCI that we make sure that the Index is fit for purpose for the next decade. 

I therefore urge you or someone from your team to attend one of the roundtables taking place in the coming weeks and to have your say in these developments. 

 

Author

Paul Richards

Paul Richards

CEO, AREF

Paul is the CEO of AREF.  Before joining AREF in 2020, Paul was Head of the European Real Estate Boutique within Mercer’s investment consulting business for almost 10 years, previously he was Head of Indirect Real Estate Investment and Global Managed Accounts at LaSalle Investment Management, where he was responsible for managing global portfolios of unlisted real estate funds for clients from Europe and Asia Pacific.

He has over 25 years of real estate experience in investment, corporate finance and research, and has advised investors, occupiers and venture capital companies on property portfolio strategy and on financial structuring, including PFI, senior and mezzanine debt and joint venture arrangements. His employers have included LaSalle Investment Management, Cushman & Wakefield and Henderson Investors.

Before coming into the world of real estate, Paul worked in marketing and market research. He originally studied Physiological Sciences at Lincoln College, Oxford and has a Master of Science in Real Estate from City University Business School, London, now Cass Business School.