The Association of Real Estate Funds (AREF) has appointed Kames Capital’s director of property investment David Wise as its new chairman.
AREF is the representative body for UK unlisted real estate funds with 68 members that have a collective net asset value of circa GBP40bn under management.
Wise (pictured) joined Kames Capital in October 2007 and is currently responsible for Kames’ direct property investment team and for the four funds the team runs. He will also be in charge of Kames’ new property authorised investment fund which launches in Q1 2014.
He was previously at Morley Fund Management (now Aviva Investors) and its predecessors (Commercial Union and CGU) for 21 years from 1986 to 2007 where he was property investment director. During his time at Aviva he launched the Ashtenne Industrial Fund, one of the first large indirect property funds, and was manager of a number of major funds including the Commercial Union Life Fund, General Accident Life Fund, Norwich Union Linked Life Fund and Aviva Investors Pooled Pension Fund.
Wise is a Chartered Surveyor and is a director of AREF, a member of its management committee and chairman of its corporate governance committee. He also served on the government’s 2007 lease code working party.
John Cartwright, AREF chief executive, says: “David is one of our longest-standing and most active Committee members and has already contributed hugely to the success of AREF so I am delighted to be working more closely with him as chairman.”
Wise says: “I am keen to raise awareness of some of the excellent work that AREF has been quietly doing to assist the development of the property investment fund market. I would like to thank my predecessor Paul Dennis-Jones for his unstinting hard work on behalf of AREF.”