24 Sep 2020

As outlined in the previous update from the AREF CTI & Expense Ratios Working Group, they have completed their work on the Cost Transparency Initiative and have now moved on to reviewing and updating AREF's Guidance on Expense Ratios 

INREV (European Association for Investors in Non-listed Real Estate Vehicles), ANREV (Asian association for Investors in Non-listed Real Estate Vehicles), NCREIF (National Council of Real Estate Investment Fiduciaries in the US) and PREA (Pension Real Estate Association in the US) have agreed a common standard for a Total Global Expense Ratio (TGER). This is to be used from 1st January 2021. The AREF Working Group has concluded that unless there are compelling reasons for diverging, AREF should follow the new global standard.

The Working Group is working to have updated guidance for AREF members available prior to the year end. Anyone who has views on this or wishes to contribute should contact the Working Group at info@aref.org.uk

 

Author

Jacqui Bungay

Jacqui Bungay

Head of Policy and Company Secretary, AREF

Jacqui is AREF’s Company Secretary and provides policy guidance and secretariat services to AREF’s Board and Management Committee as well as many of AREF's committees and working groups.

Jacqui joined AREF in 2014 after working for over 25 years in fund compliance, client relationships and administration in the trustee and depositary sector.