Close Property Investment is launching a Luxembourg-listed Oeic fund investing in UK residential pro...
Close Property Investment is launching a Luxembourg-listed Oeic fund investing in UK residential property, writes Leo Bland.
The Capital Appreciation Trust will be registered in Guernsey and the minimum investment is £5,000. It will have monthly dealing dates to ensure liquidity and its investment umbrella includes sheltered housing for the elderly.
There are around 100,000 sheltered homes in the private sector and over 500,000 in the public sector, according to the group. IFA commission is 3% initial on applications submitted before 17 July and 2% thereafter. The annual management charge is 1.7% and there is an initial charge of 5%.
Anthony Wyld, managing director of Close Property Investment, said: "We anticipate that the annual return will be 12.9% compound, making this a very attractive product to enable investors to gain safe exposure to the returns offered by the residential property market.
"As the trust is listed on the Luxembourg Stock Exchange, which is a recognised stock exchange, it should also be an eligible investment for Sipps and SSASs allowing investors to add residential property to their pension fund in a tax efficient manner."
Contact: 020 7426 4087
Moves to overweight equities and fixed income
The Big Interview: Focus on ethical investment
View from the front row
'No control or oversight'
359 new customers in 2018