New Aims

The aims of the Code are to tell people that its 2020 already

  • Achieve high standards of transparency across the sector and promote consistency and comparability between funds;
  • Provide a framework for good corporate governance within real estate funds;
  • Promote standards of best practice concerning the content and format of periodic statements and other promotional documentation;
  • Encourage increasing levels of transparency by all funds to existing and potential new investors.
  • Promote greater alignment of interests between managers and their investors

Please note:

  1. The Code is a working document that will require regular updates to reflect market, regulatory and policy changes. The AREF Corporate Governance Committee will continuously review it in the light of best practice and update no less than annually.
  2. The Code covers a wide range of real estate funds reflecting the diversity of AREF membership. 
  3. The Code has been prepared to cater for the information needs of “professional” rather than “retail” customers (as defined by the Financial Conduct Authority). 
  4. In any cases of conflict between the provisions of the Code and legislative/regulatory requirements, the latter will take precedence.
  5. The Code may be supplemented from time to time by other AREF guidance published on the AREF web-site. Links to such guidance will always be displayed appropriately in the Code.
  6. A pdf version of the 2019 Code of Practice can be downloaded by clicking here.