#1A Investor event: Diversity & Inclusion Investor Event from the Real Estate Investors' Forum, PropertyMatch and AREF AREF Wednesday 15th September 2021 PropertyMatch Real Estate Investors' Forum#2Moderator Welcome Melville Rodrigues, Head - Real Estate Advisory at Apex Group AREF PropertyMatch A Real Estate Investors' Forum#3Agenda for today 09.15 Webinar start 09.15 09.20 09.25 09.35 09.45 10.00 Welcome and Housekeeping - Sam Witham at PropertyMatch Introduction - Melville Rodrigues at Apex Group Presentation from Helen Price at Brunel Pension Partnership 'The goals of the Asset Owner Diversity Charter and opportunities for collaboration with fund management organisations.' Presentation from Anne Breen at Aberdeen Standard Investment 'The AREF D&I Taskforce plans with a focus on AREF Investor Members' Discussion session Closing remarks from Melville Rodrigues AREF PropertyMatch Real Estate Investors' Forum#4Speakers Anne Breen Head of Investment Strategy (Real Estate) Aberdeen Standard Investment Helen Price Stewardship Manager Brunel Pension Partnership AREF PropertyMatch Real Estate Investors' Forum#5AREF A Helen Price, Stewardship Manager at Brunel Pension Partnership PropertyMatch Real Estate Investors' Forum#6Asset Owner Diversity Charter །།། ༡༡༡༠༩ HELEN PRICE 15/09/2021#7Asset Owner Diversity Working Group Formalise a set of actions that asset owners can commit to in order to improve diversity, in all forms, across the investment industry BRUNEL Pension Partnership LOTHIAN London CIV nest PENSION FUND RPMI RAILPEN UNIVERSITY OF CAMBRIDGE Cambridge University Endowment Fund West Midlands Pension Fund#8State of Play According to Knight Foundation, ethnic minorities and women owned asset management firms managed only 1.3% of global Assets Under Management in 2017 Women in fund management roles reached 11 per cent in 2020. In 2016, women accounted for 10.3 per cent of fund managers. There are 13 black portfolio managers "among thousands" in London's asset management industry In 2018 there were 12 black portfolio managers in London 9/10 senior roles in financial services are held by people from higher socio-economic backgrounds, compared to a 1/3 of the UK working population.#9Risk of Regulation "I want to consider whether the diversity of management teams - and the inclusivity of the management culture they create - could be part of our consideration of senior manager applications. Nikhil Rathi CEO FCA •Working with the Prudential Regulation Authority on a joint approach to D&I for all financial services firms •Exploring premium listing rules#10Signatories AVON PENSION FUND BARNETT WADDINGHAM beyond the expected BRUNEL Pension Partnership THE CHURCH OF ENGLAND PENSIONS BOARD Coal Pension Trustees INVESTMENT Cornwall Pension Fund London Environment Agency Pension Fund LOTHIAN PENSION FUND + LCP LPP Local Pensions Partnership Investments CIV S RPMI RAILPEN INSIGHT CLARITY ADVICE LGPS Central Limited nest REDINGTON West Midlands Pension Fund Willis Towers Watson II'I'LI#11The Asset Owner Diversity Charter commits signatories to incorporate diversity and inclusion into: Manager Selection Manager Monitoring Collaboration#12Questionnaire Who has responsibility and oversight for the diversity strategy and Board/Leadership targets? If there are no targets, explain why? Promotion Culture Recruitment Industry How do you ensure you operate an equal opportunity development and promotion process? How are you fostering inclusivity? Do you undertake staff surveys, ensure polices are accessible? Is take up measured? Often sighted as a barrier. How are barriers being broken and how are firms ensuring the process is inclusive and bias is removed? How are firms improving representation and perception of the industry? How are involved and supporting collaborative initiatives?#13Become a Signatory -C ? ASSET OWNER CHARTER ASSET OWNER CHARTER TOOLKIT ASSET MANAGER D&I QUESTIONNAIRE FAQS https://diversityproject.com/assetownerdiversitycharter ☑ BECOME A SIGNATORY. Email us at: [email protected]#14A Anne Breen, Head of Investment Strategy (Real Estate) at abrdn & Member of the AREF D&I Taskforce AREF PropertyMatch Real Estate Investors' Forum#15● Scope of the group To be aware of, monitor and discuss, all emerging UK and EU legislative and regulatory developments in relation to D&I initiatives that may have a potential impact on AREF member funds and AREF best practice. Subject to approval of financial spend by AREF Management Committee, commission specialist advice, research or reports where there are benefits to a broad sample of AREF members. Produce and/or procure explanatory material for dissemination to members and other relevant audiences. Keep under review, and advise wider membership on, appropriate measurement and benchmarking of D&I issues to define best practice. AREF PropertyMatch Real Estate Investors' Forum#16Potential workstreams ■ Gender ◉ Diversity of Thought/Neuro-diverse ■ BAME ▪ LGBT Disability Ethnicity AREF PropertyMatch Real Estate Investors' Forum#17Social Mobility ■ Grass roots - student/school outreach/career advice/cultural inclusion ■ Recruitment into real estate ■ Interview help ■ Property Bootcamp/learning & sharing of basic property industry knowledge ■ Reverse mentoring AREF PropertyMatch Real Estate Investors' Forum#18Best Practice Guides: ■ Shared parental leave/Returning to work ■ Gender pay gap ■ Future world of work ■ Unconscious bias training ■ Podcasts on real life experiences ■ Learning Resources Library AREF PropertyMatch Real Estate Investors' Forum#19Capturing & measuring data: ■ Surveys? Adding additional questions to Quarterly Fund Questionnaire? Incorporating D&I objectives/guidance into AREF Code of Practice? AREF PropertyMatch Real Estate Investors' Forum#20Collaboration with the IA From April 2019, AREF extended its strategic partnership with the Investment Association, becoming a Special Member. This partnership materially enhances the resources available to both parties. The Investment Association has been working extensively on their own Diversity & Inclusion agenda and has a library of useful information available to AREF members. More information can be found here: https://www.theia.org/campaigns/diversity-and- inclusion AREF PropertyMatch Real Estate Investors' Forum#21Consultations ■ BOE/PRA/FCA DP 21/2 - Diversity and inclusion in the financial sector - working together to drive change: https://www.fca.org.uk/publication/discussion/dp21-2.pdf ■ FCA CP 21/24 - Diversity and inclusion on company boards and executive committees: https://www.fca.org.uk/publication/consultation/cp21-24.pdf AREF PropertyMatch Real Estate Investors' Forum#22Discussion A AREF PropertyMatch Real Estate Investors' Forum#23AREF An AREF initiative! Property Investor's Voice Group video-call sessions Set your own agenda Let's discuss what matters to you as investors Date for the next event: Wednesday 20th October 2021 Register through the AREF website or email [email protected] Co-hosted by AREF's MD, Paul Richards and a Peter Martin, MDU & AREF Investor Committee Member Open to any and all qualified investors in property funds, no AREF membership required Get involved. We are here. We are listening.#24Thank you AREF PropertyMatch A Real Estate Investors' Forum#25Contact details - ■ Melville Rodrigues – [email protected] Helen Price, Brunel Pension Partnership- [email protected] ■ Anne Breen, abrdn - [email protected] AREF PropertyMatch Real Estate Investors' Forum