Derivatives are long established and widely used in the securities market, but their use for property, although established for over 10 years in the UK, has remained limited. The IPF Property Derivatives Interest Group (PDIG) has been set up to support the development of the property derivatives market, partly in response to the needs of investors and partly following changes to the regulatory and tax environment, which have made property derivatives more accessible and more attractive. The group has developed a website purely about property derivatives; to access the site please click here.
In November 2008, the PDIG Technical Sub-Group produced a Guide on 'Getting into Property Derivatives' , which provides an overview of the market, the pre-requisite regulatory and operational procedures that need to be in place before starting to trade and four case studies showing how property investors have used property derivatives. This publication was revised in January 2010.
To download a copy of the revised edition of 'Getting into Property Derivatives', please click here.
In March 2010, the PDIG Technical Sub-Group published ‘Trading Property Derivatives’, which picks up where ‘Getting into Property Derivatives’ left off. This new handbook aims to provide more practical tips and advice on how to tackle the issues involved in getting an organisation to the stage where it can trade derivatives routinely. The content within 'Trading Property Derivatives' is from a UK-based perspective, although many areas of discussion will also be relevant for other markets. Click here to download a copy of 'Trading Property Derivatives'.
PDIG organises three breakfast events each year at which the quarterly derivative trading volumes are announced by IPD. For more information on the next PDIG breakfast, please click here.
Nick Scarles - Grosvenor (Chair) Colin Barber Anne Breen - Standard Life Ian Cullen - IPD Louise Ellison - Investment Property Forum Sue Forster - Investment Property Forum Mark Kildea - Liberty International Robert Page - Alpha Beta Rawle Parris Iain Reid - Protego Real Estate Investors LLP Paul Robinson - CBRE Will Robson - PRUPIM Tony Yu - ING Real Estate Investment Management (UK) Ltd Simon Carter - British Land Andrew Baum - University of Reading Phil Ljubic - RBS Phil Bayliss - Legal and General Investment Management Frankie Clay - Investment Property Forum
Taxation: Phil Nicklin, Deloitte Legal: Mark Daley, Berwin Leighton Paisner Regulation: Paul Coleman, Barclays Capital Accounting: David Adler, Langham Hall UK LLP Public Relations: Fenella Gentleman, Grosvenor