Global Definitions Database

Access, learn and discover all terms related to the non-listed real estate sector.

Used in

Source

Topic

Non-Discretion or Non-Discretionary

The level of authority granted to an adviser or investment manager over the investment and management of client capital that permits only the undertaking of specific tasks that are authorized on a per task basis; in general, the investor retains the decision on whether to invest.

Source: NCREIF | Date: 09 September 2025 | ID: D1321 | Version: 1