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John has a number of independent representation roles:
a) He is chairman of the independent Supervisory Board of the UBS Triton Property Fund;
b) He chaired the investor group on the conversion Aberdeen Asset Management's Airport Industrial Property Unit Trust closed-ended fund to semi open-ended (see press coverage here)
c) He is independent chair of the Urban Splash Residential Fund (see press coverage here)
d) He is a director of a holding company of a fund management business.
As discussed in the report 'Unlisted funds, lessons from the crisis' for the Association of Real Estate Funds (AREF), investors have reacted to the failings of some fund managers during the period of volatility by requiring greater independent oversight of real estate investment management businesses. As commented upon in the possible actions for AREF in the report:, greater use of independent representation is an important element of corporate governance. It is considered that this would help to minimise the perception of conflicts of interest. Regulatory changes, in particular the introduction of AIFMD, also increase the need for greater independent supervision.
This is an evolving area and the real estate investment management is lagging behind other asset classes. This is changing however, and the extent of independent oversight is broadening. There is also increasing recognition that the role should be one of ensuring good governance in an environment of more demanding investors and regulators, rather than second-guessing investment decisions.
John is able to
i). advise clients on governance structures
ii). sit on independent supervisory and advisory committees
iii). sit as a non-executive director for listed and unlisted property companies.
You can read about how John helps managers and investors with fund due diligence here.